Sinclair Sees Q1 2024 Revenue $793M-$806M Vs $816.82M Est.
Portfolio Pulse from Benzinga Newsdesk
Sinclair Broadcast Group (SBGI) forecasts Q1 2024 revenue between $793M-$806M, below the estimated $816.82M. The projection includes various revenue streams such as core advertising, political revenue, and distribution revenue. Adjusted EBITDA is expected to be between $128M-$139M. For the full year 2024, the company anticipates media-related expenses, non-media expenses, and other financial metrics, aiming for an adjusted free cash flow of $100M-$114M.
February 28, 2024 | 9:13 pm
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Sinclair Broadcast Group (SBGI) anticipates Q1 2024 revenue to be below analyst estimates, with a forecast range of $793M-$806M compared to the expected $816.82M. The company also provided detailed financial projections for the full year 2024.
The projected revenue for Q1 2024 being below analyst estimates could lead to negative investor sentiment in the short term, potentially impacting SBGI's stock price negatively. The detailed financial projections provide transparency but may not offset the initial negative impact of missing revenue estimates.
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