Nexstar posts record Q3 revenue $1.27B, net income $287.5M; acquires 75% of CW Network

NEXSTAR MEDIA GROUP, INC.

2022-Q3 EPS reported $18.81 revenue$3,724,300,000

Q3 net revenue $1.27B (+9.7% YoY); net income $287.5M (+70% YoY); adjusted EBITDA $488.8M (+19.1%).
Political ad revenue surged 942.7% to $129.3M; core ad fell 7.6% to $399.7M.
Distribution revenue $641.7M (+3.7%); digital revenue $85.7M (+5.7%).
Closed acquisition of 75% stake in The CW Network; new $1.5B share repurchase authorized.
CEO Perry Sook extended through March 2026; Board to recommend declassification.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEXSTAR MEDIA GROUP, INC. reported the third quarter ended September 30, 2022 results: revenue $1,269.1 million, net income $287.5 million.

Period: the third quarter ended September 30, 2022
Revenue: $1,269.1 million
Net income: $287.5 million
Result: reported results

Exact text from the filing

8-K as Exhibit 99.1 and is incorporated herein by reference. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 NEXSTAR MEDIA GROUP REPORTS RECORD THIRD QUARTER NET REVENUE OF $1.27 BILLION Net Revenue Drives Record Q3 Operating Income of $355.3 Million, Net Income of $287.5 Million, Adjusted EBITDA of $488.8 Million and Free Cash Flow of $293.6 Million All-Time

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Source: SEC EDGAR

accession 0000950170-22-022896

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