Business
Nexstar Media Group Reports Record Third Quarter Net Revenue of $1.27 Billion
Net Revenue Drives Record Q3 Operating Income of $355.3 Million, Net Income of $287.5 Million, Adjusted EBITDA of $488.8 Million and Free Cash Flow of $293.6
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"\nNet Revenue Drives Record Q3 Operating Income of $355.3 Million, Net Income of $287.5 Million, Adjusted EBITDA of $488.8 Million and Free Cash Flow of $293.6 Million\n\nAll-Time High Third Quarter and Nine Month Return of Capital to Shareholders of $250.1 Million and $729.6 Million, Respectively\n\n IRVING, Texas--(BUSINESS WIRE)--\nNexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or “the Company”) today reported financial results for the third quarter ended September 30, 2022 as summarized below:\n\n\n\nSummary 2022 Third Quarter Highlights\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended September 30,\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\nNine Months Ended September 30,\n\n\n\n \n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\n\n\n($ in millions)\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n\n\nCore Advertising Revenue\n\n\n\n \n\n\n\n$399.7\n\n\n\n \n\n\n\n \n\n\n\n$432.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(7.6\n\n\n\n)\n\n\n\n \n\n\n\n$1,240.8\n\n\n\n \n\n\n\n \n\n\n\n$1,267.9\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(2.1\n\n\n\n)\n\n\n\n\n\nPolitical Advertising Revenue\n\n\n\n \n\n\n\n \n\n\n\n129.3\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n12.4\n\n\n\n \n\n\n\n \n\n\n\n+942.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n239.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n26.3\n\n\n\n \n\n\n\n \n\n\n\n+811.4\n\n\n\n \n\n\n\n\n\nTotal Television Advertising Revenue\n\n\n\n \n\n\n\n$529.0\n\n\n\n \n\n\n\n \n\n\n\n$445.1\n\n\n\n \n\n\n\n \n\n\n\n+18.8\n\n\n\n \n\n\n\n \n\n\n\n$1,480.5\n\n\n\n \n\n\n\n \n\n\n\n$1,294.2\n\n\n\n \n\n\n\n \n\n\n\n+14.4\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\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 \n\n\n\n \n\n\n\n\n\nDistribution Revenue\n\n\n\n \n\n\n\n \n\n\n\n641.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n618.8\n\n\n\n \n\n\n\n \n\n\n\n+3.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n1,955.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n1,857.0\n\n\n\n \n\n\n\n \n\n\n\n+5.3\n\n\n\n \n\n\n\n\n\nDigital Revenue\n\n\n\n \n\n\n\n \n\n\n\n85.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n81.1\n\n\n\n \n\n\n\n \n\n\n\n+5.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n252.6\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n220.9\n\n\n...