Sirius XM (NASDAQ:SIRI) Issues Earnings Results

Sirius XM (NASDAQ:SIRI) posted its quarterly earnings data on Thursday. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02, Zacks reports. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS.

Here are the key takeaways from Sirius XM’s conference call:

• Subscription momentum — Self‑pay net additions improved to negative 111k (a 192k YoY improvement) with companion plans adding ~124k, first‑quarter churn at a record low 1.5%, and ARPU up 1% to $14.99.
• Advertising acceleration & YouTube deal — Advertising revenue rose 3% to ~$407M (podcast ads +37%), and SiriusXM will be YouTube’s exclusive U.S. audio ad representative, expanding reach to ~255M monthly listeners with a fall launch and a broader ramp into 2027.
• Improving profitability and cash flow — Revenue of $2.09B (+1%), adjusted EBITDA of $666M (+6%), net income +20% and FCF tripled to $171M; company captured $45M toward a $100M 2026 cost‑savings target and reaffirmed 2026 guidance with FCF ~$1.35B and a path to $1.5B in 2027.
• Higher non‑cash depreciation — Decommissioning the FM‑6 satellite shortens its useful life and will drive roughly $60M of incremental non‑cash depreciation in 2026 (about $3M in Q1), which will depress reported net income and EPS despite no cash impact.
• Spectrum optionality under evaluation — Management is pursuing partnership‑first paths to monetize 35 MHz of contiguous 2 GHz spectrum (including 10 MHz WCS blocks), but any monetization is multi‑year, must protect core services and regulatory/OEM commitments, and timing/economics remain uncertain.

Sirius XM Stock Performance

SIRI traded up $0.28 on Friday, hitting $27.22. 5,643,799 shares of the company’s stock were exchanged, compared to its average volume of 6,057,771. The firm has a market cap of $9.16 billion, a PE ratio of 12.15, a P/E/G ratio of 0.72 and a beta of 0.94. Sirius XM has a twelve month low of $19.71 and a twelve month high of $28.77. The stock has a fifty day moving average of $23.48 and a two-hundred day moving average of $21.97. The company has a current ratio of 0.44, a quick ratio of 0.30 and a debt-to-equity ratio of 0.83.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, May 11th. Sirius XM’s dividend payout ratio is 48.21%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SIRI. Weiss Ratings cut shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their target price on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday. Barrington Research restated an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a research note on Thursday, February 5th. Moffett Nathanson started coverage on shares of Sirius XM in a research note on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 target price on the stock. Finally, Rosenblatt Securities upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and upped their target price for the company from $24.00 to $46.00 in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Sirius XM currently has an average rating of “Hold” and a consensus price target of $27.70.

Sirius XM News Roundup

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Q1 results beat expectations — SiriusXM reported $0.72 EPS vs. ~$0.70 consensus and $2.09B revenue (vs. ~$2.07B), with revenue up ~1.1% YoY; management highlighted margin and profit growth that supports cash returns. SiriusXM Reports First Quarter 2026 Operating and Financial Results
• Positive Sentiment: SiriusXM shed fewer subscribers in Q1, suggesting content initiatives and pricing are reducing churn — an important sign for recurring revenue stability. SiriusXM sheds fewer subscribers in the first quarter on content strength
• Positive Sentiment: Advertising and Pandora contribution boosted profitability; Billboard notes double‑digit profit growth driven by subscription price increases and Pandora ad revenue. SiriusXM Posts Double-Digit Profit Growth on Subscription Price Hikes, Pandora’s Ad Revenue
• Positive Sentiment: Company targets ~ $1.35B in 2026 free cash flow and plans to launch YouTube audio ads this fall — a new monetization channel that could lift ad revenue and FCF. SiriusXM targets ~$1.35B 2026 free cash flow while launching YouTube audio ads this fall
• Positive Sentiment: Deal chatter: Sirius XM is reportedly exploring a purchase of iHeartMedia — a strategic combination could create scale in audio advertising and content, supporting longer‑term growth expectations (still speculative). Deal Dispatch: Sirius XM Mulls Purchase Of iHeartMedia, Uber Buys FlyTaxi, Wren Kitchens Bankruptcy
• Neutral Sentiment: Large options activity — unusually heavy call buying was reported, indicating some traders are positioning for further upside, but options alone are speculative. Listen to Conference Call
• Neutral Sentiment: Analyst/media momentum pieces (Zacks, Yahoo) profile SIRI as a momentum/value play; helpful for sentiment but not new company fundamentals. Sirius XM (SIRI) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: SiriusXM confirmed no new material risks since its 2025 10‑K, reaffirming existing SEC disclosures — reduces regulatory uncertainty but is not a growth driver. Sirius XM Confirms No New Material Risks Since 2025 10-K, Reaffirming Existing SEC Disclosures
• Negative Sentiment: JPMorgan raised its price target from $24 to $26 but kept a “neutral” rating — the PT implies limited upside from current levels, which could cap near‑term analyst-driven gains. Benzinga

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in Sirius XM during the fourth quarter worth about $622,000. Sivia Capital Partners LLC acquired a new stake in Sirius XM during the second quarter worth about $208,000. M Holdings Securities Inc. acquired a new stake in Sirius XM during the fourth quarter worth about $207,000. VestGen Advisors LLC acquired a new stake in Sirius XM during the fourth quarter worth about $201,000. Finally, Smartleaf Asset Management LLC raised its stake in Sirius XM by 10,071.7% during the second quarter. Smartleaf Asset Management LLC now owns 6,103 shares of the company’s stock worth $138,000 after acquiring an additional 6,043 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.