Two weeks from right now, there’s a very good chance you’ll be digesting the second quarter 2023 earnings report from Sinclair Inc., the owner of broadcast TV stations across the U.S. in addition to such broadcast technology firms as Dielectric.
What can investors expect to hear from company executives including CFO Lucy Rutishauser and CEO Chris Ripley?
The results will likely be downbeat for some analysts and shareholders, due to poor comps to the same period in 2022, when record political revenue fueled Sinclair and some of its peers.
Sinclair’s earnings per share was probed by five analysts polled by Yahoo! Finance, and they’ve chimed in. With a low EPS estimate of -$0.74 and a high EPS estimate of -$0.27, it’s a given that Sinclair will be down from last year’s Q2 EPS of -$0.17, with the consensus estimate for Q2 2023 at -$0.60.
Meanwhile, the revenue estimate for Sinclair was offered by six analysts polled by Yahoo! Finance, and the consensus estimate is for revenue of $767.08 million.
Rather than release the results prior to the Opening Bell on Wall Street, Sinclair is doing so after the closing bell and, similar to what iHeartMedia has done after a difficult quarter, giving analysts and interested parties roughly 30 minutes to digest the details ahead of the quarterly earnings call.
While SBGI holds a 1-year target price of $21.27 per share, shares have lagged since May, and were at $14.55 per share as the 2pm Eastern hour began on July 19.
A $12.45 close on June 23 is the year-to-date low for Sinclair shares, which trade on the Nasdaq GlobalSelect market.
