Nexstar Q2 Revenue Jumps 62% to $1.99B, Beating Estimates on TEGNA Boost
NXST sits 23% above its 52-week low of $154.47.
Summary
Nexstar delivered a strong Q2, with revenue surging 62% YoY to $1.99B, edging past the $1.97B consensus. Adjusted EBITDA of $633M also beat expectations, driven by the TEGNA acquisition and political ad spending in an election year. The company repaid $409M in debt and paid $57M in dividends, signaling confidence in cash flows. However, ongoing litigation could delay synergy realization from the TEGNA deal. This follows the FCC's upcoming vote on eliminating the national ownership cap, a potential tailwind for further consolidation.
At the time of this announcement, NXST was trading at $190.03 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $5.8B. The 52-week trading range was $154.47 to $254.30. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.