Business
Nexstar Media Group Reports Record First Quarter Net Revenue of $1.21 Billion
Net Revenue Drives Q1 Operating Income of $329.4 Million, Net Income of $251.4 Million, Adjusted EBITDA of $642.7 Million and Free Cash Flow of $560.4
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nNet Revenue Drives Q1 Operating Income of $329.4 Million, Net Income of $251.4 Million, Adjusted EBITDA of $642.7 Million and Free Cash Flow of $560.4 Million\n\nReturned $195.2 Million to Shareholders in the First Quarter in the Form of Share Repurchases and Dividends\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or “the Company”) today reported financial results for the first quarter ended March 31, 2022 as summarized below:\n\n\n\nSummary 2022 First Quarter Highlights\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n \n\n\n \n\n%\n\n\n \n\n\n\n($ in millions)\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n \n\n2021\n\n\n\n \n\n\n \n\nChange\n\n\n \n\n\n\nCore Advertising Revenue\n\n\n\n \n\n\n\n$428.1\n\n\n\n \n\n\n \n\n$411.7\n\n\n\n \n\n\n \n\n+4.0\n\n\n \n\n\n\nPolitical Advertising Revenue\n\n\n\n \n\n\n\n23.7\n\n\n\n \n\n\n \n\n5.4\n\n\n\n \n\n\n \n\n+338.9\n\n\n \n\n\n\nTotal Television Advertising Revenue\n\n\n\n \n\n\n\n$451.8\n\n\n\n \n\n\n \n\n$417.1\n\n\n\n \n\n\n \n\n+8.3\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n \n\n \n\n\n\n \n\n\n \n\n \n\n\n \n\n\n\nDistribution Revenue\n\n\n\n \n\n\n\n667.9\n\n\n\n \n\n\n \n\n621.2\n\n\n\n \n\n\n \n\n+7.5\n\n\n \n\n\n\nDigital Revenue\n\n\n\n \n\n\n\n78.7\n\n\n\n \n\n\n \n\n66.4\n\n\n\n \n\n\n \n\n+18.5\n\n\n \n\n\n\nOther Revenue\n\n\n\n \n\n\n\n11.7\n\n\n\n \n\n\n \n\n9.2\n\n\n\n \n\n\n \n\n+27.2\n\n\n \n\n\n\nNet Revenue\n\n\n\n \n\n\n\n$1,210.1\n\n\n\n \n\n\n \n\n$1,113.9\n\n\n\n \n\n\n \n\n+8.6\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n \n\n \n\n\n\n \n\n\n \n\n \n\n\n \n\n\n\nIncome from Operations\n\n\n\n \n\n\n\n$329.4\n\n\n\n \n\n\n \n\n$284.9\n\n\n\n \n\n\n \n\n+15.6\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n \n\n \n\n\n\n \n\n\n \n\n \n\n\n \n\n\n\nNet income\n\n\n\n \n\n\n\n$251.4\n\n\n\n \n\n\n \n\n$199.2\n\n\n\n \n\n\n \n\n+26.2\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n \n\n \n\n\n\n \n\n\n \n\n \n\n\n \n\n\n\nAdjusted EBITDA Before Transaction and Other One-Time Expenses(1)\n\n\n\n \n\n\n\n$644.3\n\n\n\n \n\n\n \n\n$572.6\n\n\n\n \n\n\n \n\n+12.5\n\n\n \n\n\n\nAdjusted EBITDA(1)\n\n\n\n \n\n\n\n642.7\n\n\n\n \n\n\n \n\n571.4\n\n\n\n \n\n\n \n\n+12.5\n\n\n \n\n\n\nAdjusted EBITDA Margin(2)\n\n\n\n \n\n\n\n53.1\n\n\n\n%\n\n\n \n\n51.3\n\n\n\n%\n\n\n \n\n \n\n\n \n\n\n\n \n\...