Nexstar Q1 revenue record $1.26B (+3.9% YoY); net income falls 65% to $88M

NEXSTAR MEDIA GROUP, INC.

2023-Q1 EPS reported $2.97 revenue$1,257,000,000

Record Q1 net revenue of $1.257B, up 3.9% YoY; operating income $204M (down 38%).
Adjusted EBITDA $491M (down 23.9%); attributable free cash flow $383M (down 31.9%).
Board approved 50% dividend increase to $1.35/share; returned $225M to shareholders in Q1.
Distribution revenue record $728M (+9.0%); digital revenue record $92M (+16.5% YoY).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEXSTAR MEDIA GROUP, INC. reported first quarter ended March 31, 2023 results: revenue $1,257, net income $88.

Period: first quarter ended March 31, 2023
Revenue: $1,257
Net income: $88
Result: reported results

Exact text from the filing

Revenue 8 24 (66.7 ) Total Television Advertising Revenue $425 $452 (6.0 ) Distribution Revenue 728 668 +9.0 Digital Revenue 92 79 +16.5 Other Revenue 12 11 +9.1 Net Revenue $1,257 $1,210 +3.9 Income from Operations $204 $329 (38.0 ) Net Income $88 $252 (65.1 ) Adjusted EBITDA (2), (3) $491 $645 (23.9 ) Adjusted EBITDA Margin (4) 39.1 % 53.3 % Attributable

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Source: SEC EDGAR

accession 0000950170-23-019124

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