Sinclair Broadcast reports Q1 EPS $2.64, consensus (60c)

Reports Q1 revenue $773M, consensus $775.26M. "Sinclair is seeing a solid start to 2023, meeting or beating guidance on all key financial metrics," said Chris Ripley, Sinclair’s president and CEO. "Nonetheless, we remain cautious for the full year on expectations for a weaker economy. As we continue our evolution from a traditional broadcast company to a diversified content and data distributor, we have begun the process of reorganizing our company structure to increase transactional flexibility and transparency around the sum-of-the-parts and to unlock value for our organization. Our end goal is to create an even more efficient company, designed to use the breadth of our assets to identify and accelerate growth."