Sinclair Reports Third Quarter 2018 Financial Results
Contact: Lucy Rutishauser, SVP Chief Financial Officer
(410) 568-1500
SINCLAIR REPORTS THIRD QUARTER 2018 FINANCIAL RESULTS
• INCREASES TOTAL REVENUE BY 19% COMPARED TO PRIOR YEAR
• INCREASES QUARTERLY DIVIDEND PER SHARE TO $0.20
BALTIMORE (November 7, 2018) – Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three and nine months ended September 30, 2018.
CEO Comment:
“Third quarter results came in ahead of guidance in all key financial metrics, and we expect to close out this year ahead of revenue and cash flow expectations, further improving the strongest balance sheet in our company’s history,” commented Chris Ripley, President and Chief Executive Officer. “Further driving value, we repurchased 5% of our total shares outstanding since the Board approved an additional $1 billion share buyback authorization last quarter. Looking ahead to the fourth quarter, we just finished what is the biggest mid-term political advertising year in our Company’s history with political advertising expected to be over 60% higher than the 2014 mid-term election cycle and over 20% higher than the 2016 presidential election year, based on our current portfolio. As a result of the growth in political revenue this year, our Board has approved increasing our quarterly dividend per share from $0.18 to $0.20. The strength of political reconfirms that television remains the dominant and premium platform for consumer messaging and building brand awareness, and this year has certainly given us good reason to expect that 2020 will be even stronger.”
Read more…3Q18 Press Release FINAL
RECENT NEWS RELEASES
- January 15, 2021
- Sinclair Broadcast Group’s “THE NATIONAL DESK” to Premier Monday, January 18
- January 14, 2021
- ABC 45-TV Announces Premiere of Local News in the Triad Market
- January 13, 2021
- Sinclair Names Billy Robbins Vice President and General Manager of WBFF in Baltimore Maryland
- ViacomCBS and Sinclair Broadcast Group, Inc. Announce Affiliation Agreements
- January 7, 2021
- Major Broadcasters Launch NEXTGEN TV On Four Local Television Stations In Columbus, Ohio
- December 29, 2020
- Sinclair Announces Promotions
- December 22, 2020
- ONE Media 3.0 Launches its STIRR Radio App in Seattle
- December 16, 2020
- Seattle Becomes Latest Large Market To Launch NEXTGEN TV With All Major Broadcasters
- December 4, 2020
- Sinclair Closes Private Offering of Senior Secured Notes
- November 30, 2020
- So Vang Joins ONE Media 3.0