Sinclair Reports First Quarter 2021 Financial Results
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Sinclair Broadcast Group (SBGI) Tops Q1 EPS by $1.82c, Revenues Beat; Offers FY21 Revenues Guidance Above Consensus
May 5, 2021 7:36 AM EDTSinclair Broadcast Group (NASDAQ: SBGI) reported Q1 EPS of ($0.16), $1.82 better than the analyst estimate of ($1.98). Revenue for the quarter came in at $1.51 billion versus the consensus estimate of $1.48 billion.
First Quarter Highlights
Consolidated total revenue decreased 6% to $1,511 million as compared to the first quarter of 2020.Consolidated operating income of $35 million, including $32 million of non-recurring costs for transaction and transition services, COVID, legal, and regulatory costs ("Adjustments") decreased compared to operating income in the first quarter of 2020 of $327 million, which included $20 million of Adjustments. Excluding the Adjustments, operating income of $67 million decreased... More