Revenue Growth - Record third quarter net revenue of $1.37 billion, an increase of $234 million or 20.7% year-over-year[5] - Distribution revenue reached $719 million, up $121 million or 20.2% compared to the prior year quarter[6] - Advertising revenue totaled $622 million, reflecting a $113 million increase or 22.2% year-over-year, driven by a $135 million rise in political advertising[7] - Nexstar Media Group reported net revenue of $1,366 million for Q3 2024, a 20.7% increase from $1,132 million in Q3 2023[24] Profitability - Net income for the third quarter was $180 million, a significant increase of $172 million compared to the previous year, resulting in a net income margin of 13.2%[8] - The company achieved net income of $180 million in Q3 2024, compared to $8 million in Q3 2023, reflecting a significant year-over-year growth[24] - Nexstar's basic net income per share available to common stockholders was $5.34 for Q3 2024, significantly higher than $0.71 in Q3 2023[24] Cash Flow and Liquidity - Net cash provided by operating activities was $387 million, an increase of $249 million or 180.4% year-over-year[10] - Adjusted free cash flow reached $327 million, a substantial increase of $246 million or 303.7% compared to the prior year[11] - Adjusted Free Cash Flow for the nine months ended September 30, 2024, was $792 million, up from $659 million in the same period of 2023, indicating improved liquidity[27] - The company reported Free Cash Flow of $358 million for Q3 2024, compared to $102 million in Q3 2023, highlighting enhanced cash generation capabilities[27] - Cash flows from operating activities for the nine months ended September 30, 2024, were $839 million, compared to $817 million in the same period of 2023, indicating stable operational performance[25] Cost Management - Operating expenses totaled $1,031 million in Q3 2024, slightly down from $1,038 million in Q3 2023, demonstrating cost management efforts[24] - The company incurred depreciation and amortization expenses of $190 million in Q3 2024, down from $220 million in Q3 2023, reflecting asset management strategies[26] Debt and Shareholder Returns - As of September 30, 2024, total debt was $6.7 billion, with a first lien net leverage ratio of 1.91x[14][15] - The company returned $233 million to shareholders in the form of dividends and share repurchases, reducing shares outstanding by 3.1%[12] - The company announced a new $1.5 billion share repurchase authorization in July 2024[3] Interest and Operating Income - Interest expense remained stable at $113 million for both Q3 2024 and Q3 2023, indicating consistent financing costs[24] - Nexstar's total operating income for the nine months ended September 30, 2024, was $851 million, compared to $477 million in the same period of 2023, showcasing strong operational growth[24]

Core Insights - The author identifies as an independent investor rather than a professional analyst, preferring the terms "contributor" or "author" to describe their role [1][3] - The author has over 30 years of personal investment experience and a background in economics and finance, having worked in various capacities within the financial industry [1] - The author emphasizes the importance of understanding capital structures and the dynamics of newsflow and catalysts in stock price movements [1] Background and Experience - The author has experience as a buy-side analyst, fund co-manager, and analyst at a multi-strategy hedge fund, focusing on long-only stock market investments, particularly in financial companies [1] - The author transitioned to a role at a financial regulatory authority, gaining insights into international regulation and corporate governance through extensive interactions with corporate executives [1] - The author highlights the ability to read between the lines of corporate communications, understanding that messages are tailored for specific audiences [1] Current Position and Intentions - The author aims to share personal investment views and engage in discussions with the public, drawing from their diverse background in finance [1] - The author will limit contributions to publicly available information due to compliance reasons and will not disclose specific experiences from their career [1]

Investors in Nexstar Media Group, Inc. (NXST) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 20, 2024 $95 Call had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It co ...

Core Insights - Nexstar Media Group has eliminated the position of Michael Strober, who was hired as EVP and Chief Revenue Officer in 2022, to streamline its organizational structure [1] - The company owns 75% of The CW network, with Paramount Global and Warner Bros. Discovery each retaining 12.5% after the acquisition [2] - The advertising outlook for Nexstar has become challenging, with a low single-digit decline year-over-year in Q3, influenced by the Paris Olympics and expected displacement of non-political revenue due to increased political advertising [5] Company Developments - Strober previously led the overhaul of Turner Broadcasting's ad sales division and was involved in various initiatives aimed at improving advertising experiences [3][4] - His hiring was part of a strategy to enhance Nexstar's national sales efforts and align sales strategies with the company's current operations [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock NXST NASDAQ Global Select Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 000-50478 NEXSTAR ...

Nexstar Media Group, Inc. (NASDAQ:NXST) Q2 2024 Earnings Conference Call August 8, 2024 10:00 AM ET Company Participants Joseph Jaffoni - IR Perry Sook - Founder, Chairman & CEO Michael Biard - President & COO Lee Ann Gliha - CFO Conference Call Participants Benjamin Soff - Deutsche Bank Daniel Kurnos - Benchmark Jason Bazinet - Citi Craig Huber - Huber Research Partners Steven Cahall - Wells Fargo James Goss - Barrington Research Operator Good day, and welcome to Nexstar Media Group's Second Quarter 2024 C ...

Broadcast TV giant Nexstar Media Group undershot Wall Street analysts' estimates for the second quarter, but said losses are continuing to narrow at The CW. The company reported a 2% uptick in revenue in the second quarter to $1.27 billion, which was short of forecasts for $1.3 billion. Diluted earnings per share of $3.54 improved by 90 cents over the year-earlier period but did not hit the Street's target of $4.17. "During the quarter, we continued executing on our plan at The CW, reducing operating losses ...

Exhibit 99.1 SECOND QUARTER 2024 EARNINGS RELEASE August 8, 2024 NEXSTAR MEDIA GROUP REPORTS RECORD SECOND QUARTER NET REVENUE OF $1.27 BILLION Q2 Net Revenue Drives Net Income of $106 Million, Adjusted EBITDA of $398 Million and Adjusted Free Cash Flow of $78 Million All-Time High Second Quarter Distribution Revenue Reduced Year-over-Year Quarterly Losses at The CW by $33 Million Quarterly Return of Capital to Shareholders of $190 Million, Reducing Shares Outstanding by 1.7% STATEMENT FROM PERRY A. SOOK, F ...

In addition, two Paramount-owned independent stations in Miami, Florida, and Detroit, Michigan, both top-20 markets, will become affiliates of The CW Network on September 1. WBFS-TV in Miami and WKBD-TV in Detroit will begin carrying the network's news, primetime entertainment, live sports, and special event programming at that time. Multi-Year Renewal Covers CBS Affiliated Television Stations in 42 Markets Owned by Nexstar and Mission Broadcasting, Inc. Paramount-owned Stations in Miami and Detroit To Beco ...

Nexstar Media Group, Inc. (NASDAQ:NXST) Q1 2024 Earnings Conference Call May 9, 2024 10:00 AM ET Company Participants Joseph Jaffoni - JCIR Perry Sook - Founder, Chairman & CEO Michael Biard - President & COO Lee Ann Gliha - EVP & CFO Conference Call Participants Daniel Kurnos - The Benchmark Company Benjamin Soff - Deutsche Bank Steven Cahall - Wells Fargo Securities Alan Gould - Loop Capital Markets Craig Huber - Huber Research Partners James Goss - Barrington Research Associates Jason Bazinet - Citigroup ...