--- title: "Sinclair | 8-K: FY2025 Q4 Revenue Misses Estimate at USD 836 M" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/276937658.md" datetime: "2026-02-25T21:08:35.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276937658.md) - [en](https://longbridge.com/en/news/276937658.md) - [zh-HK](https://longbridge.com/zh-HK/news/276937658.md) --- > 支持的语言: [English](https://longbridge.com/en/news/276937658.md) | [繁體中文](https://longbridge.com/zh-HK/news/276937658.md) # Sinclair | 8-K: FY2025 Q4 Revenue Misses Estimate at USD 836 M 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. ### Financial Highlights for the Three Months Ended December 31, 2025 (vs. December 31, 2024) #### Consolidated Financial Results - Total revenue for Sinclair, Inc. was $836 million, marking a 17% decrease compared to $1,004 million in the prior year period . - Distribution revenue decreased by 1% to $438 million from $441 million . - Core advertising revenue increased by 14% to $354 million from $311 million . - Political advertising revenue significantly declined by 93% to $14 million from $203 million . - Other media and non-media revenue decreased by 39% from $49 million to $30 million . - Net income attributable to the company was $109 million, a 38% decrease from $176 million . - Adjusted EBITDA decreased by 49% to $168 million from $330 million . - Consolidated operating income was $80 million, down from $266 million in the prior year period . - Capital expenditures for the fourth quarter of 2025 were $19 million . #### Segment-Specific Financial Results (Three Months Ended December 31, 2025) - **Local Media Segment**: - Total revenue: $734 million . - Distribution revenue: $384 million . - Core advertising revenue: $312 million . - Political advertising revenue: $14 million . - Operating income: $75 million . - Adjusted EBITDA: $153 million . - **Tennis Segment**: - Total revenue: $62 million . - Distribution revenue: $54 million . - Core advertising revenue: $7 million . - Operating income: $15 million . - Adjusted EBITDA: $21 million . - **Other Segment**: - Total revenue: $51 million . - Core advertising revenue: $44 million . - Operating income: $3 million . - Adjusted EBITDA: $7 million . ### Financial Highlights for the Year Ended December 31, 2025 (vs. December 31, 2024) #### Consolidated Financial Results - Total revenue was $3,169 million, an 11% decrease from $3,548 million in 2024 . - Distribution revenue remained relatively flat at $1,745 million compared to $1,746 million . - Core advertising revenue grew by 6% to $1,277 million from $1,206 million . - Political advertising revenue decreased by 92% to $32 million from $405 million . - Other media and non-media revenue decreased by 40% to $115 million from $191 million . - Sinclair, Inc. reported a net loss of -$112 million, contrasting with a net income of $310 million in 2024 . - Adjusted EBITDA decreased by 45% to $483 million from $876 million . - Consolidated operating income was $173 million, a decrease from $551 million in the prior year . ### Other Key Financial and Operational Metrics - Full year Adjusted EBITDA was $483 million . - Full-year core advertising revenue grew by $71 million over 2024 . - 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 . - Total company debt stood at $4,383 million, all of which is indebtedness to STG . - Cash and cash equivalents totaled $866 million, comprising $401 million in SBG cash and $465 million in Ventures cash . - The company has $612.5 million of available borrowing capacity under its revolver, bringing total available liquidity to $1.5 billion . - The First Out First Lien Leverage Ratio was 1.5x (covenant: 3.5x), and the Total Leverage Ratio was 5.3x (covenant: <7.0x) . - 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 . - In December, 辛克莱广播集团 paid a quarterly cash dividend of $0.25 per share . - Sinclair’s newsrooms won 246 journalism awards, including 32 regional Edward R. Murrow Awards and four National Headliner Awards . - Sinclair, Inc. donated an estimated $5.7 million of on-air promotional time and helped raise nearly $23 million for non-profit organizations . ### Outlook for the Twelve Months Ending December 31, 2026 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 . ### 相关股票 - [Sinclair (SBGI.US)](https://longbridge.com/zh-CN/quote/SBGI.US.md) ## 相关资讯与研究 - [Sinclair (NASDAQ:SBGI) Director Daniel Keith Sells 1,398 Shares](https://longbridge.com/zh-CN/news/281594586.md) - [Sinclair Earnings Report: Q4 Overview](https://longbridge.com/zh-CN/news/276939288.md) - [Wealth First Promoters Confirm 74% Stake With No Encumbrance in FY26](https://longbridge.com/zh-CN/news/281530653.md) - [Key facts: Bunge Increases Securitization to $2.0B; 8-K on Obligation](https://longbridge.com/zh-CN/news/281659964.md) - [Cintas (CTAS) Valuation Check After Q3 Results And Higher Fiscal 2026 Guidance](https://longbridge.com/zh-CN/news/281225115.md)