earnings
confidence high
sentiment positive
materiality 0.80
Nexstar Q3 record net revenue $1.37B, net income $180M, adjusted EBITDA $510M
NEXSTAR MEDIA GROUP, INC.
2024-Q3 EPS reported
$13.96
revenue$3,920,000,000
- Record Q3 net revenue $1.37B (+20.7% YoY); distribution rev $719M (+20.2%), advertising rev $622M (+22.2%) with $154M political.
- Net income $180M vs $8M prior year; adjusted EBITDA $510M (+82.8%); adjusted free cash flow $327M (+303.7%).
- The CW operating losses reduced $36M YoY; NASCAR Xfinity and WWE NXT debuts drove double-digit audience gains.
- Returned $233M to shareholders via dividends and buybacks, reducing shares outstanding by 3.1% (1,061,852 shares repurchased at ~$167.16).
- Debt repayment $85M; total debt $6.7B; first lien net leverage 1.91x; new $1.5B share repurchase authorization announced July 2024.