Sinclair, Inc. reported fourth‑quarter 2025 financial results, posting total revenue of $836 million, up 4% year‑over‑year, and a GAAP profit of $1.55 per share. The company’s adjusted earnings per share were $0.04, a sharp turnaround from the consensus estimate of a loss of $0.03 to $0.37 per share.
The revenue increase was driven by a 14% year‑over‑year rise in core advertising revenue and a rebound in live sports revenue. The absence of a record political advertising cycle in 2025 compared to 2024 weighed on total revenue; prior‑year Q4 revenue was $1.0 billion, so the current quarter reflects a 16% decline, largely attributable to the missing political advertising dollars.
Despite the revenue dip, Sinclair’s disciplined cost management helped the company achieve a GAAP profit margin that improved from the prior year. Adjusted EBITDA fell 49% year‑over‑year, but management highlighted disciplined expense management and portfolio simplification as key factors that mitigated margin compression.
Sinclair guided 2026 revenue to $3.40 billion to $3.54 billion, unchanged from prior guidance, and projected adjusted EBITDA of $700 million to $740 million. The company reiterated confidence in a strong mid‑term political advertising cycle, expecting at least $333 million in political advertising revenue in 2026.
Management emphasized that the Q4 results were “a year defined by disciplined execution, meaningful simplification of the portfolio and a deliberate positioning of the company for stronger performance in 2026 and beyond.” CFO Narinder Sahai noted that the company’s revenue strength and continued cost discipline drove the outperformance.
Market reaction was muted, reflecting investor caution about the company’s reliance on cyclical political advertising and the broader industry shift toward digital platforms.
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