Revenue: As of FY2025 Q4, the actual value is USD 836 M, missing the estimate of USD 840.25 M.EPS: As of FY2025 Q4, the actual value is USD 1.55, beating the estimate of USD -0.2482.EBIT: As of FY2025 Q4, the actual value is USD 156 M.<h3>Financial Highlights for the Three Months Ended December 31, 2025 (vs. December 31, 2024)</h3><h4>Consolidated Financial Results</h4><ul><li>Total revenue for Sinclair, Inc. was $836 million, marking a 17% decrease compared to $1,004 million in the prior year period .</li><li>Distribution revenue decreased by 1% to $438 million from $441 million .</li><li>Core advertising revenue increased by 14% to $354 million from $311 million .</li><li>Political advertising revenue significantly declined by 93% to $14 million from $203 million .</li><li>Other media and non-media revenue decreased by 39% from $49 million to $30 million .</li><li>Net income attributable to the company was $109 million, a 38% decrease from $176 million .</li><li>Adjusted EBITDA decreased by 49% to $168 million from $330 million .</li><li>Consolidated operating income was $80 million, down from $266 million in the prior year period .</li><li>Capital expenditures for the fourth quarter of 2025 were $19 million .</li></ul><h4>Segment-Specific Financial Results (Three Months Ended December 31, 2025)</h4><ul><li>Local Media Segment:<ul><li>Total revenue: $734 million .</li><li>Distribution revenue: $384 million .</li><li>Core advertising revenue: $312 million .</li><li>Political advertising revenue: $14 million .</li><li>Operating income: $75 million .</li><li>Adjusted EBITDA: $153 million .</li></ul></li><li>Tennis Segment:<ul><li>Total revenue: $62 million .</li><li>Distribution revenue: $54 million .</li><li>Core advertising revenue: $7 million .</li><li>Operating income: $15 million .</li><li>Adjusted EBITDA: $21 million .</li></ul></li><li>Other Segment:<ul><li>Total revenue: $51 million .</li><li>Core advertising revenue: $44 million .</li><li>Operating income: $3 million .</li><li>Adjusted EBITDA: $7 million .</li></ul></li></ul><h3>Financial Highlights for the Year Ended December 31, 2025 (vs. December 31, 2024)</h3><h4>Consolidated Financial Results</h4><ul><li>Total revenue was $3,169 million, an 11% decrease from $3,548 million in 2024 .</li><li>Distribution revenue remained relatively flat at $1,745 million compared to $1,746 million .</li><li>Core advertising revenue grew by 6% to $1,277 million from $1,206 million .</li><li>Political advertising revenue decreased by 92% to $32 million from $405 million .</li><li>Other media and non-media revenue decreased by 40% to $115 million from $191 million .</li><li>Sinclair, Inc. reported a net loss of -$112 million, contrasting with a net income of $310 million in 2024 .</li><li>Adjusted EBITDA decreased by 45% to $483 million from $876 million .</li><li>Consolidated operating income was $173 million, a decrease from $551 million in the prior year .</li></ul><h3>Other Key Financial and Operational Metrics</h3><ul><li>Full year Adjusted EBITDA was $483 million .</li><li>Full-year core advertising revenue grew by $71 million over 2024 .</li><li>Sinclair Ventures, LLC made approximately $50 million in minority investments and received approximately $104 million in distributions during 2025, with $86 million received in the fourth quarter .</li><li>Total company debt stood at $4,383 million, all of which is indebtedness to STG .</li><li>Cash and cash equivalents totaled $866 million, comprising $401 million in SBG cash and $465 million in Ventures cash .</li><li>The company has $612.5 million of available borrowing capacity under its revolver, bringing total available liquidity to $1.5 billion .</li><li>The First Out First Lien Leverage Ratio was 1.5x (covenant: 3.5x), and the Total Leverage Ratio was 5.3x (covenant: &lt;7.0x) .</li><li>As of December 31, 2025, there were 45,979,350 Class A common shares and 23,755,236 Class B common shares outstanding, totaling 69,734,586 common shares .</li><li>In December, 辛克莱广播集团 paid a quarterly cash dividend of $0.25 per share .</li><li>Sinclair’s newsrooms won 246 journalism awards, including 32 regional Edward R. Murrow Awards and four National Headliner Awards .</li><li>Sinclair, Inc. donated an estimated $5.7 million of on-air promotional time and helped raise nearly $23 million for non-profit organizations .</li></ul><h3>Outlook for the Twelve Months Ending December 31, 2026</h3>Sinclair, Inc. anticipates total consolidated revenue between $3,400 million and $3,540 million . Consolidated Adjusted EBITDA is projected to be between $700 million and $740 million . The company expects capital expenditures between $75 million and $80 million, with net interest expense between $300 million and $310 million .

Sinclair | 8-K: FY2025 Q4 Revenue Misses Estimate at USD 836 M