Sinclair reported third quarter 2026 revenue of $893 million, exceeding analyst expectations of $874.21 million. The performance was driven by record political advertising revenue during the midterm election cycle, which powered a significant bottom-line beat with EPS of $0.60 versus the $0.27 estimate. Following the results, management substantially raised its full-year 2026 Adjusted EBITDA guidance.
Key Highlights
- Political advertising revenue reached $136 million for the quarter, a 55% increase compared to the same period in the 2022 midterm cycle.
- Full-year 2026 Adjusted EBITDA guidance was raised to a range of $825 million to $835 million, up from the previous outlook of $730 million to $760 million.
- Core advertising revenue declined 4% year-over-year to $301 million, while distribution revenue remained relatively flat at $426 million.
- Following a strategic review, the company determined not to pursue a standalone separation of its Ventures portfolio at this time, opting to keep the assets within the current structure.