---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-019124"
form_type: "8-K"
ticker: "NXST"
cik: "0001142417"
company_name: "NEXSTAR MEDIA GROUP, INC."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:11:14.784972+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0000950170-23-019124
- form_type: 8-K
- ticker: NXST
- cik: 0001142417
- company_name: NEXSTAR MEDIA GROUP, INC.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1142417/000095017023019124/0000950170-23-019124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1142417/000095017023019124/nxst-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-019124
- JSON: https://secwatch.observer/filing/0000950170-23-019124.json
- Plain text: https://secwatch.observer/filing/0000950170-23-019124.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1142417/000095017023019124/0000950170-23-019124-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.