{"id":818979,"date":"2025-02-27T07:08:53","date_gmt":"2025-02-27T12:08:53","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nexstar-media-group-reports-record-fourth-quarter-net-revenue-of-1-49-billion\/"},"modified":"2025-02-27T07:08:53","modified_gmt":"2025-02-27T12:08:53","slug":"nexstar-media-group-reports-record-fourth-quarter-net-revenue-of-1-49-billion","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nexstar-media-group-reports-record-fourth-quarter-net-revenue-of-1-49-billion\/","title":{"rendered":"Nexstar Media Group Reports Record Fourth Quarter Net Revenue of $1.49 Billion"},"content":{"rendered":"

<\/p>\n

Nexstar Media Group Reports Record Fourth Quarter Net Revenue of $1.49 Billion<\/b><\/p>\n

Q4 Net Revenue Drives Net Income of $229 Million, Adjusted EBITDA of $628 Million, Net Cash Provided by Operating Activities of $411 Million and Adjusted Free Cash Flow of $411 Million<\/i><\/p>\n

Reduced Year-over-Year Losses at The CW by $7 Million in the Quarter and $126 Million for the Year<\/i><\/p>\n

Quarter and Full Year Return of Capital to Shareholders of $230 Million and $820 Million, Respectively, Reducing Shares Outstanding by 8.9% during 2024<\/i><\/p>\n

Repaid $327 Million of Debt during 2024, Achieving Net Leverage of 2.91x for 2024<\/i><\/p>\n

Provides 2025 Adjusted EBITDA Guidance in a Range of $1.5 Billion to $1.595 Billion<\/i><\/p>\n

IRVING, Texas–(BUSINESS WIRE<\/a>)–
\nNexstar Media Group, Inc. (NASDAQ: NXST) (\u201cNexstar\u201d or the \u201cCompany\u201d) today reported financial results for the fourth quarter and full year ended December 31, 2024 as summarized below. Please visit Nexstar\u2019s website to view the full press release<\/a>.<\/p>\n

STATEMENT FROM PERRY A. SOOK, FOUNDER, CHAIRMAN AND CEO<\/b><\/p>\n

\n\u201cWe ended 2024 with another quarter of record net revenue driven by increased election year political advertising highlighting the effectiveness of local television broadcasting and our presence in nearly 85% of contested election markets across the country. In addition, we continued to grow distribution revenue, a testament to our position as the largest owner of local broadcast television stations carrying the most-watched programming. In 2024, we generated $1.2 billion of Adjusted Free Cash Flow and returned $820 million, or 68%, to shareholders in the form of dividends and share repurchases and used $327 million to reduce leverage. In 2025, our key initiatives include renewing distribution contracts representing approximately 60% of our subscriber base, continuing our march towards profitability for The CW, and pursuing deregulation. Looking ahead, we believe we are well positioned to consistently deliver strong financial results, a belief supported by our recent decision to increase our dividend for the twelfth year in a row.\u201d<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

2024 Fourth Quarter Financial Summary<\/b><\/p>\n<\/td>\n

<\/tr>\n
\n

($ in millions)<\/i><\/p>\n<\/td>\n

\n\n

Three Months Ended December 31,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Year Ended December 31,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

2024<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

% Change<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2024<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

% Change<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDistribution<\/p>\n<\/td>\n

\n\n

\n$714<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$704<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$2,928<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$2,727<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n7.4<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdvertising<\/p>\n<\/td>\n

\n\n

\n758<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n585<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29.6<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,415<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,121<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13.9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther<\/p>\n<\/td>\n

\n\n

\n16<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n15<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6.7<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n64<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n85<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(24.7<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Net Revenue<\/b><\/p>\n<\/td>\n

\n\n

$1,488<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$1,304<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

14.1<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$5,407<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$4,933<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

9.6<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Net Income<\/b><\/p>\n<\/td>\n

\n\n

$229<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$100<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

129.0<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$683<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$270<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

153.0<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

% Margin(1)<\/sup><\/i><\/p>\n<\/td>\n

\n\n

15.4%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

7.7%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

7.7<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

12.6%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

5.5%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

7.1<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted EBITDA(2)<\/sup><\/b><\/p>\n<\/td>\n

\n\n

$628<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$449<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

39.9<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$2,004<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$1,477<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

35.7<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

% Margin(1)<\/sup><\/i><\/p>\n<\/td>\n

\n\n

42.2%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

34.4%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

7.8<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

37.1%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

29.9%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

7.2<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Net Cash Provided by Operating Activities<\/b><\/p>\n<\/td>\n

\n\n

$411<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$182<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

125.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$1,250<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$999<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

25.1<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Free Cash Flow(2)<\/sup><\/b><\/p>\n<\/td>\n

\n\n

$411<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$245<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

67.8<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$1,203<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

$905<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

32.9<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n
\n

\n(1)<\/p>\n<\/td>\n

\n\n

\nNet Income margin is Net Income as a percentage of Net Revenue. Adjusted EBITDA margin is Adjusted EBITDA as a percentage of Net Revenue.<\/p>\n<\/td>\n<\/tr>\n

\n

\n(2)<\/p>\n<\/td>\n

\n\n

Changes were made to these definitions in the third quarter of 2024.<\/b>Please refer to the \u201cDefinitions and Disclosures Regarding Non-GAAP Financial Information\u201d section herein, the reconciliations at the end of this press release and additional information on our website nexstar.tv<\/a>.<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Company and Business Highlights<\/b><\/p>\n