$SBGI
Sinclair, Inc. Stock $sbgi

$sbgi Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000197121323000026 Filed on November 09, 2023

Income Statement

Concept	2023 Q3	2022 Q4	2022 Q3
Revenue	$767.0M	$960.0M	$843.0M
YoY Change	-9.02%	-34.96%	-45.08%
Cost Of Revenue	$400.0M	$385.0M	$396.0M
YoY Change	1.01%	-57.27%	-61.25%
Gross Profit	$367.0M	$575.0M	$447.0M
YoY Change	-17.9%	0.0%	-12.87%
Gross Profit Margin	47.85%	59.9%	53.02%
Selling, General & Admin	$176.0M	$252.0M	$220.0M
YoY Change	-20.0%	-7.01%	-16.35%
% of Gross Profit	47.96%	43.83%	49.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$66.00M	$88.00M	$67.00M
YoY Change	-1.49%	-85.5%	-90.44%
% of Gross Profit	17.98%	15.3%	14.99%
Operating Expenses	$730.0M	$349.0M	$321.0M
YoY Change	127.41%	-23.3%	-27.7%
Operating Profit	$37.00M	$226.0M	$154.0M
YoY Change	-75.97%	88.33%	123.19%
Interest Expense	$77.00M	-$60.00M	$59.00M
YoY Change	30.51%	-53.85%	-141.26%
% of Operating Profit	208.11%	-26.55%	38.31%
Other Income/Expense, Net	-$94.00M	$26.00M	$10.00M
YoY Change	-1040.0%	-135.62%	-350.0%
Pretax Income	-$57.00M	$219.0M	$138.0M
YoY Change	-141.3%	-586.67%	-286.49%
Income Tax	-$12.00M	$157.0M	$109.0M
% Of Pretax Income		71.69%	78.99%
Net Earnings	-$46.00M	$55.00M	$21.00M
YoY Change	-319.05%	-161.8%	10.53%
Net Earnings / Revenue	-6.0%	5.73%	2.49%
Basic Earnings Per Share	-$0.74
Diluted Earnings Per Share	-$0.74	$0.79	$0.30
COMMON SHARES
Basic Shares Outstanding	63.33M shares
Diluted Shares Outstanding	63.33M shares

Balance Sheet

Concept	2023 Q3	2022 Q4	2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$643.0M	$884.0M	$607.0M
YoY Change	5.93%	8.33%	-42.63%
Cash & Equivalents	$643.0M	$884.0M	$607.0M
Short-Term Investments
Other Short-Term Assets	$206.0M	$182.0M	$199.0M
YoY Change	3.52%	-29.46%	-30.66%
Inventory
Prepaid Expenses
Receivables	$597.0M	$612.0M	$586.0M
Other Receivables	$8.000M	$5.000M	$171.0M
Total Short-Term Assets	$1.454B	$1.683B	$1.563B
YoY Change	-6.97%	-31.89%	-44.02%
LONG-TERM ASSETS
Property, Plant & Equipment	$846.0M	$873.0M	$866.0M
YoY Change	-2.31%	-16.06%	-9.98%
Goodwill	$2.082B	$2.088B
YoY Change		0.0%
Intangibles
YoY Change
Long-Term Investments	$129.0M	$113.0M	$549.0M
YoY Change	-76.5%	-89.58%	-53.55%
Other Assets	$730.0M	$964.0M	$400.0M
YoY Change	82.5%	55.48%	-15.25%
Total Long-Term Assets	$4.629B	$5.021B	$5.042B
YoY Change	-8.19%	-50.14%	-49.85%
TOTAL ASSETS
Total Short-Term Assets	$1.454B	$1.683B	$1.563B
Total Long-Term Assets	$4.629B	$5.021B	$5.042B
Total Assets	$6.083B	$6.704B	$6.605B
YoY Change	-7.9%	-46.54%	-48.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$419.0M	$397.0M	$412.0M
YoY Change	1.7%	-39.39%	-33.97%
Accrued Expenses	$19.00M	$23.00M	$23.00M
YoY Change	-17.39%	-34.29%	-14.81%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$37.00M	$38.00M	$43.00M
YoY Change	-13.95%	-44.93%	-34.85%
Total Short-Term Liabilities	$624.0M	$608.0M	$688.0M
YoY Change	-9.3%	-49.42%	-39.65%
LONG-TERM LIABILITIES
Long-Term Debt	$4.145B	$4.227B	$4.226B
YoY Change	-1.92%	-65.55%	-66.09%
Other Long-Term Liabilities	$207.0M	$220.0M	$396.0M
YoY Change	-47.73%	-61.87%	-34.76%
Total Long-Term Liabilities	$207.0M	$220.0M	$4.622B
YoY Change	-95.52%	-98.29%	-64.64%
TOTAL LIABILITIES
Total Short-Term Liabilities	$624.0M	$608.0M	$688.0M
Total Long-Term Liabilities	$207.0M	$220.0M	$4.622B
Total Liabilities	$5.499B	$5.829B	$5.899B
YoY Change	-6.78%	-59.27%	-59.2%
SHAREHOLDERS EQUITY
Retained Earnings	$122.0M	$122.0M
YoY Change
Common Stock	$514.0M	$624.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$646.0M	$748.0M	$706.0M
YoY Change
Total Liabilities & Shareholders Equity	$6.083B	$6.704B	$6.605B
YoY Change	-7.9%	-46.54%	-48.58%

Cashflow Statement

Concept	2023 Q3	2022 Q4	2022 Q3
OPERATING ACTIVITIES
Net Income	-$46.00M	$55.00M	$21.00M
YoY Change	-319.05%	-161.8%	10.53%
Depreciation, Depletion And Amortization	$66.00M	$88.00M	$67.00M
YoY Change	-1.49%	-85.5%	-90.44%
Cash From Operating Activities	$1.000M	$341.0M	$251.0M
YoY Change	-99.6%	270.65%	1.62%
INVESTING ACTIVITIES
Capital Expenditures	$30.00M	$31.00M	$29.00M
YoY Change	3.45%	72.22%	20.83%
Acquisitions
YoY Change
Other Investing Activities	-$2.000M	$2.000M	$6.000M
YoY Change	-133.33%	-33.33%	-109.09%
Cash From Investing Activities	-$32.00M	-$29.00M	-$23.00M
YoY Change	39.13%	93.33%	-74.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-54.00M	-35.00M	-41.00M
YoY Change	31.71%	-89.03%	-35.94%
NET CHANGE
Cash From Operating Activities	1.000M	341.0M	251.0M
Cash From Investing Activities	-32.00M	-29.00M	-23.00M
Cash From Financing Activities	-54.00M	-35.00M	-41.00M
Net Change In Cash	-85.00M	277.0M	187.0M
YoY Change	-145.45%	-214.46%	101.08%
FREE CASH FLOW
Cash From Operating Activities	$1.000M	$341.0M	$251.0M
Capital Expenditures	$30.00M	$31.00M	$29.00M
Free Cash Flow	-$29.00M	$310.0M	$222.0M
YoY Change	-113.06%	318.92%	-0.45%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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	us-gaap	Temporary Equity Accretion To Redemption Value Adjustment TemporaryEquityAccretionToRedemptionValueAdjustment	190000000	usd
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	sbgi	Rebate Payments To Distributors RebatePaymentsToDistributors	0	usd
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CY2023Q3	sbgi	Number Of Markets NumberOfMarkets	86	market
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	us-gaap	Use Of Estimates UseOfEstimates	<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses in the consolidated financial statements and in the disclosures of contingent assets and liabilities. Actual results could differ from those estimates.</span></div>
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CY2020Q3	sbgi	Stock Repurchase Program Additional Authorized Amount StockRepurchaseProgramAdditionalAuthorizedAmount	1000000000	usd
	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	8800000	shares
	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	151000000	usd
CY2023Q3	us-gaap	Stock Repurchase Program Remaining Authorized Repurchase Amount1 StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1	547000000	usd
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.</span></div>
CY2023Q3	us-gaap	Equity Method Investments EquityMethodInvestments	129000000	usd
CY2022Q4	us-gaap	Equity Method Investments EquityMethodInvestments	113000000	usd
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CY2022Q4	us-gaap	Other Investments OtherInvestments	442000000	usd
CY2023Q3	us-gaap	Notes And Loans Receivable Net Noncurrent NotesAndLoansReceivableNetNoncurrent	0	usd
CY2022Q4	us-gaap	Notes And Loans Receivable Net Noncurrent NotesAndLoansReceivableNetNoncurrent	193000000	usd
CY2023Q3	us-gaap	Income Taxes Receivable Noncurrent IncomeTaxesReceivableNoncurrent	131000000	usd
CY2022Q4	us-gaap	Income Taxes Receivable Noncurrent IncomeTaxesReceivableNoncurrent	131000000	usd
CY2023Q3	sbgi	Postretirement Plan Assets PostretirementPlanAssets	42000000	usd
CY2022Q4	sbgi	Postretirement Plan Assets PostretirementPlanAssets	41000000	usd
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CY2022Q4	us-gaap	Other Assets Miscellaneous Noncurrent OtherAssetsMiscellaneousNoncurrent	44000000	usd
CY2023Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	730000000	usd
CY2022Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	964000000	usd
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CY2023Q3	us-gaap	Equity Securities Without Readily Determinable Fair Value Amount EquitySecuritiesWithoutReadilyDeterminableFairValueAmount	14000000	usd
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	sbgi	Debt Instrument Covenant First Lien Leverage Ratio Test Borrowings Exceed Total Commitments Percent DebtInstrumentCovenantFirstLienLeverageRatioTestBorrowingsExceedTotalCommitmentsPercent	0.35
	sbgi	Temporary Equity Dividends Payable TemporaryEquityDividendsPayable	3000000	usd
CY2022Q3	sbgi	Temporary Equity Dividends Payable TemporaryEquityDividendsPayable	3000000	usd
CY2022Q4	us-gaap	Redeemable Noncontrolling Interest Equity Preferred Carrying Amount RedeemableNoncontrollingInterestEquityPreferredCarryingAmount	194000000	usd
CY2022Q4	us-gaap	Temporary Equity Liquidation Preference TemporaryEquityLiquidationPreference	198000000	usd
CY2023Q1	us-gaap	Redeemable Noncontrolling Interest Equity Preferred Redemption Value RedeemableNoncontrollingInterestEquityPreferredRedemptionValue	190000000	usd
CY2023Q1	sbgi	Temporary Equity Unreturned Capital Contribution Percentage TemporaryEquityUnreturnedCapitalContributionPercentage	0.95
CY2023Q1	sbgi	Temporary Equity Unreturned Capital Contribution TemporaryEquityUnreturnedCapitalContribution	175000000	usd
CY2023Q3	us-gaap	Profit Loss ProfitLoss	-45000000	usd
CY2023Q3	us-gaap	Net Income Loss Attributable To Redeemable Noncontrolling Interest NetIncomeLossAttributableToRedeemableNoncontrollingInterest	0	usd
CY2023Q3	us-gaap	Net Income Loss Attributable To Nonredeemable Noncontrolling Interest NetIncomeLossAttributableToNonredeemableNoncontrollingInterest	1000000	usd
CY2023Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-46000000	usd
CY2023Q3	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-46000000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	50000000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	2597000000	usd
CY2023Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	63325000	shares
CY2023Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	0	shares
CY2023Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	63325000	shares
CY2023Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	5120000	shares
CY2023Q3	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	2	segment
CY2023Q3	us-gaap	Assets Assets	6083000000	usd
CY2023Q3	us-gaap	Revenues Revenues	767000000	usd
CY2023Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	66000000	usd
CY2023Q3	sbgi	Amortizationof Program Contract Costs AmortizationofProgramContractCosts	18000000	usd
CY2023Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	45000000	usd
CY2023Q3	us-gaap	Deconsolidation Gain Or Loss Amount DeconsolidationGainOrLossAmount	-10000000	usd
CY2023Q3	us-gaap	Gain Loss On Sales Of Assets And Asset Impairment Charges GainLossOnSalesOfAssetsAndAssetImpairmentCharges	0	usd
CY2023Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	37000000	usd
CY2023Q3	us-gaap	Interest Expense InterestExpense	77000000	usd
	us-gaap	Revenues Revenues	2308000000	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	204000000	usd
	sbgi	Amortizationof Program Contract Costs AmortizationofProgramContractCosts	59000000	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	165000000	usd
	us-gaap	Deconsolidation Gain Or Loss Amount DeconsolidationGainOrLossAmount	-10000000	usd
	us-gaap	Gain Loss On Sales Of Assets And Asset Impairment Charges GainLossOnSalesOfAssetsAndAssetImpairmentCharges	-11000000	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	55000000	usd
	us-gaap	Interest Expense InterestExpense	227000000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	30000000	usd
CY2022Q3	us-gaap	Revenues Revenues	843000000	usd
CY2022Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	67000000	usd
CY2022Q3	sbgi	Amortizationof Program Contract Costs AmortizationofProgramContractCosts	22000000	usd
CY2022Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	30000000	usd
CY2022Q3	us-gaap	Gain Loss On Sales Of Assets And Asset Impairment Charges GainLossOnSalesOfAssetsAndAssetImpairmentCharges	28000000	usd
CY2022Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	154000000	usd
CY2022Q3	us-gaap	Interest Expense InterestExpense	59000000	usd
CY2022Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	33000000	usd
	us-gaap	Revenues Revenues	2968000000	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	255000000	usd
	sbgi	Amortization Of Sports Programming Rights AmortizationOfSportsProgrammingRights	326000000	usd
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	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	115000000	usd
	us-gaap	Deconsolidation Gain Or Loss Amount DeconsolidationGainOrLossAmount	3357000000	usd
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	us-gaap	Interest Expense InterestExpense	228000000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	48000000	usd
CY2023Q3	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	48000000	usd
CY2022Q4	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	56000000	usd
CY2023Q3	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2023Q3	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
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CY2023Q3	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false

Files In Submission

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$SBGI
Sinclair, Inc. Stock $sbgi

2023 Q3 Form 10-Q Financial Statement

#000197121323000026 Filed on November 09, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SBGI Sinclair, Inc. Stock $sbgi

2023 Q3 Form 10-Q Financial Statement

#000197121323000026 Filed on November 09, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SBGI
Sinclair, Inc. Stock $sbgi