Sinclair Broadcast Group (SBGI) Misses Q1 EPS by 6c, Revenue Beats
Sinclair Broadcast Group (NASDAQ: SBGI) reported Q1 EPS of $0.25, $0.06 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $722.1 million versus the consensus estimate of $709.13 million.
Outlook:
The Company currently expects to achieve the following results for the three months ending June 30, 2019 and twelve months ending December 31, 2019. The outlook does not include the pending acquisition of the 21 RSNs.
2019 Outlook ($ in millions) | Second Quarter | Full Year |
Media Revenues | $716 million to $725 million | No estimate provided |
Political Revenues Included in Media Revenues | $4 million to $5 million | |
Distribution Revenues Included in Media Revenues | $365 million to $368 million | |
Media Revenue Related to Revenue-generating Initiatives | $16 million | |
Media Production Expenses and Media Selling, General and Administrative Expenses (together, "Media Expenses") | $506 million to $508 million | $1,987 million to $1,990 million |
Media Expenses Related to Revenue-generating Initiatives | $25 million | $113 million |
Stock-based Compensation Expense | $5 million | $19 million |
Non-media Revenues | $50 million | $180 million |
Program Contract Payments | $24 million | $95 million |
Corporate Overhead | $25 million | $100 million |
Stock-based Compensation Expense | $4 million | $17 million |
One-time Transaction Costs | $3 million | $11 million |
Non-media Expenses, Including ONE Media and Research and Development Costs | $46 million | $164 million |
Program Contract Amortization | $22 million | $92 million |
Depreciation on Property and Equipment | $24 million | $97 million |
Amortization of Acquired Intangibles | $44 million | $174 million |
Net Gains on Asset Dispositions | $14 million | $92 million |
Net Interest Expense | $49 million | $196 million |
Net Interest Expense - Cash Basis | $47 million | $188 million |
Equity Method Investments Loss | $12 million | $49 million |
Effective Tax Rate | 9% | 10% |
Net Cash Taxes Paid | $31 million | $34 million |
Total Capital Expenditures, Including Repack | $77 million | $246 million to $256 million |
Repack Capital Expenditures | $37 million | $136 million |
For earnings history and earnings-related data on Sinclair Broadcast Group (SBGI) click here.