Sinclair Inc
For the period ended Jun 30, 2024. Filed Aug 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 9, 2024
SBGI$14.23+4.0%Stored close · as of Nov 9, 2026
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CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| REVENUES: | ||||
| Media revenues | $819 | $761 | $1,611 | $1,527 |
| Non-media revenues | 10 | 7 | 16 | 14 |
| Total revenues | 829 | 768 | 1,627 | 1,541 |
| OPERATING EXPENSES: | ||||
| Media programming and production expenses | 425 | 413 | 833 | 811 |
| Media selling, general and administrative expenses | 194 | 190 | 390 | 381 |
| Amortization of program costs | 18 | 19 | 37 | 41 |
| Non-media expenses | 13 | 9 | 25 | 21 |
| Depreciation of property and equipment | 25 | 32 | 50 | 56 |
| Corporate general and administrative expenses | 50 | 62 | 108 | 120 |
| Amortization of definite-lived intangible assets | 38 | 41 | 76 | 82 |
| Loss on asset dispositions and other, net of impairment | 2 | 5 | 2 | 11 |
| Total operating expenses | 765 | 771 | 1,521 | 1,523 |
| Operating income (loss) | 64 | (3) | 106 | 18 |
| OTHER INCOME (EXPENSE): | ||||
| Interest expense including amortization of debt discount and deferred financing costs | (76) | (76) | (152) | (150) |
| Gain on extinguishment of debt | — | 11 | 1 | 11 |
| Income (loss) from equity method investments | 78 | (1) | 92 | 30 |
| Other expense, net | (42) | (38) | (2) | (27) |
| Total other expense, net | (40) | (104) | (61) | (136) |
| Income (loss) before income taxes | 24 | (107) | 45 | (118) |
| INCOME TAX (PROVISION) BENEFIT | (5) | 20 | (1) | 224 |
| NET INCOME (LOSS) | 19 | (87) | 44 | 106 |
| Net loss attributable to the redeemable noncontrolling interests | — | — | — | 4 |
| Net income attributable to the noncontrolling interests | (2) | (2) | (4) | (14) |
| NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR | $17 | $(89) | $40 | $96 |
| EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR: | ||||
| Basic earnings per share | $0.27 | $(1.38) | $0.61 | $1.44 |
| Diluted earnings per share | $0.27 | $(1.38) | $0.61 | $1.43 |
| Basic weighted average common shares outstanding (in thousands) | 66,189 | 64,012 | 65,172 | 66,862 |
| Diluted weighted average common and common equivalent shares outstanding (in thousands) | 66,189 | 64,012 | 65,296 | 66,947 |
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