Business
Nexstar Media Group Reports Record Fourth Quarter Net Revenue of $1.49 Billion
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
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nQ4 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\n\n\nReduced Year-over-Year Losses at The CW by $7 Million in the Quarter and $126 Million for the Year\n\n\nQuarter and Full Year Return of Capital to Shareholders of $230 Million and $820 Million, Respectively, Reducing Shares Outstanding by 8.9% during 2024\n\n\nRepaid $327 Million of Debt during 2024, Achieving Net Leverage of 2.91x for 2024\n\n\nProvides 2025 Adjusted EBITDA Guidance in a Range of $1.5 Billion to $1.595 Billion\n\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or the “Company”) today reported financial results for the fourth quarter and full year ended December 31, 2024 as summarized below. Please visit Nexstar’s website to view the full press release.\n\n\nSTATEMENT FROM PERRY A. SOOK, FOUNDER, CHAIRMAN AND CEO\n\n\n“We 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 $327 million to reduce leverage. In 2025, our key initiatives include renewing distribution contracts representing approximately 60% of our subscriber base, continuing our march towards profitability for The CW, and pursuing deregulation. Looking ahead, we believe we are well positioned to consistently deliver strong financial results, a belief supported by our recent decision to increase our dividend for the twelfth year in a row.”\n\n\n\n\n2024 Fourth Quarter Financial Summary\n\n\n\n\n\n\n\n\n\n($ in millions)\n\n\n\n\n\n\n\nThree Months Ended December 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\nYear Ended December 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\...