Nexstar posts record Q2 revenue of $2.0B; net income $113M, Adj. EBITDA $633M

NEXSTAR MEDIA GROUP, INC.

Net revenue $1.99B (+62.2% YoY) driven by TEGNA acquisition and $147M political ad revenue.
Adjusted EBITDA $633M (+62.7% YoY); Adjusted Free Cash Flow $238M (+135.6% YoY).
Repaid $409M debt and paid $57M dividends in Q2; total debt $11.7B, net leverage 4.22x.
TEGNA litigation ongoing: D.C. Circuit rejected challenges; trial set for July 6, 2027.
Issued $1.725B Senior Unsecured Notes due 2034 to refinance $1.714B notes maturing 2027.

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