Sinclair reports Q2 EPS (91c) vs. 27c last year

Reports Q2 revenue $784M, consensus $799.6M. “Sinclair (SBGI) delivered solid second quarter results, successfully navigating a challenging macro-economic environment, with Adjusted EBITDA exceeding the midpoint of our second quarter guidance. In addition, we are pleased to welcome our new Chief Financial Officer Narinder Sahai, and we look forward to his contributions to our successes over the coming years. On the regulatory front, we remain optimistic as deregulation continues to accelerate for the industry. We successfully rebranded Compulse under the Digital Remedy name, following our recent acquisition. Digital Remedy is a ‘Rule of 40’ software company focusing on omnichannel media activation solutions with a specialty in Connected TV offerings. Our multicast networks delivered record-breaking growth in the quarter, and are very well-positioned with new, fan-favorite hits launching on our networks in the fall. Finally, our audio strategy continues to expand as we launched five new AMP sports podcasts over the last couple of months, adding to our market-leading sports podcast programming.”