Sinclair (SBGI) Q4 2025 Earnings Call Transcript
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 25, 2026
AI-Generated Deep Dive Summary
Sinclair (SBGI) reported a mixed Q4 2025 performance, with total revenue declining to $836 million from $1.0 billion due to reduced political advertising, which dropped significantly year-over-year ($14 million compared to $203 million). Despite this, the company exceeded internal guidance, with adjusted EBITDA reaching $168 million, slightly above the high end of its forecast. Core advertising revenue grew 14% year-over-year to $354 million, driven by strong demand for live sports and incremental digital revenue from recent acquisitions like Digital Remedy. However, political advertising revenue plummeted due to the non-election quarter dynamic, reflecting broader cyclical trends in the industry.
The Local Media segment remained a key driver of Sinclair's performance, generating $734 million in revenue. Core advertising revenue grew 4% as reported and 6% pro forma, while distribution revenue saw slight declines. Notably, the Tennis Segment outperformed expectations, with revenue increasing to $62 million from $57 million, fueled by a 20% rise in core advertising and a 10% boost in distribution revenue. This growth was attributed to higher subscriber numbers for Tennis Channel 2, which saw a 12% increase in minutes viewed and an 8% rise in household ratings. The segment's adjusted EBITDA also improved by 10%, reflecting lower production expenses and
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Originally published on The Motley Fool on 2/25/2026