Nexstar Media Group reports record Q2 net revenue $1.27B; net income $106M, Adjusted EBITDA $398M

NEXSTAR MEDIA GROUP, INC.

2024-Q2 EPS reported $8.71 revenue$2,553,000,000

Net revenue $1.27B (+2.3% YoY); distribution revenue $734M (record, +5.5%); advertising $522M (+2.2%) including $45M political.
Net income $106M (+41.3%); Adjusted EBITDA $398M (+18.8%); Adjusted Free Cash Flow $78M (+5.4%).
CW Network operating losses reduced by $33M YoY in Q2; third consecutive quarter of primetime ratings growth.
Returned $190M to shareholders: $135M repurchases (847,904 shares at ~$159.21) and $55M dividends.
Total debt $6.78B; first lien net leverage 2.19x; unrestricted cash $146M.

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