Fly News Breaks for November 19, 2019
Nov 19, 2019 | 06:47 EDT
Stephens analyst Kyle Evans said Nexstar posted "messy numbers" in Q3, which he attributes to the Tribune acquisition and "a lack of good pro forma numbers," but he still sees it as a "Best Idea" given its scale, retrans renewal cycle, declining leverage, easier digital comps and the political cycle. The analyst, who is expecting a strong 2020, keeps an Overweight rating and $150 price target on Nexstar shares.
News For NXST From the Last 2 Days
Aug 4, 2021 | 07:10 EDT
Reports Q2 revenue $1.13B, consensus $1.12B. Perry A. Sook, Chairman and Chief Executive Officer of Nexstar Media Group, Inc. commented, "Nexstar's strong operating and financial growth momentum as well as our commitment to enhancing shareholder value was highlighted again in the second quarter as we delivered another period of outstanding financial results and industry-leading capital returns. Record second quarter net revenue reflects our team's success in generating a faster and stronger-than-anticipated recovery in core advertising as well as continued double-digit distribution revenue growth. Overall, our record second quarter net revenue of $1.13 billion, net income of $199.8 million and Adjusted EBITDA of $418.8 million were well ahead of consensus expectations, while free cash flow of $181.2 million was impacted by the timing of 2021 operating cash tax payments. With our year-to-date operating results pacing ahead of internal forecasts, we are raising our pro-forma average annual free cash flow guidance for the 2021/2022 cycle by $60 million to approximately ~$1.33 billion.