Sinclair Q3 revenue up 16%, beats analyst estimates

Overview

• U.S. diversified media company's Q3 revenue rose 16% yr/yr, beating analyst expectations

• Q3 adjusted EBITDA more than doubled from a year ago

• Company raised full-year 2026 adjusted EBITDA guidance

Outlook

• Sinclair raises 2026 adj EBITDA guidance to $825 mln-$835 mln from $730 mln-$760 mln

Result Drivers

• POLITICAL ADVERTISING - Co said record political advertising revenue, driven by battleground races and the overall political environment, boosted results

• NETWORK AFFILIATION AGREEMENTS - Co said new agreements with ABC and CBS contributed to results

• TENNIS CHANNEL GROWTH - Co said Tennis Channel saw increased engagement and subscriber growth, supporting distribution and core advertising revenue

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the broadcasting peer group is "buy."

• Wall Street's median 12-month price target for Sinclair, Inc. is $17.00, about 26.2% above its November 3 closing price of $13.47

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)