Nexstar Media Group, Inc. · NASDAQ:NXST

Nexstar Media — Q1 2026 Earnings Presentation

12 slides from Nexstar Media's earnings presentation, May 7, 2026

  1. Slide 1: Nexstar Media Group Reports First Quarter Results

    FIRST QUARTER 2026 EARNINGS RELEASE May 7, 2026 NEXSTAR MEDIA GROUP REPORTS FIRST QUARTER RESULTS Closed acquisition of TEGNA Inc. on March 19, 2026, following FCC and DOJ regulatory approvals Transaction positions Nexstar to compete more aggressively with Big Tech and legacy media conglomerates ens

  2. Slide 2: Company and Business Highlights

    FIRST QUARTER 2026 EARNINGS RELEASE Company and Business Highlights • Closed the acquisition of TEGNA Inc. (“TEGNA”) following approvals from the Federal Communications Commission and the United States Department of Justice. (March 2026) ─ This transaction enables Nexstar to better weather the inten

  3. Slide 3: Financial Results

    FIRST QUARTER 2026 EARNINGS RELEASE Financial Results • Net Revenue. First quarter net revenue of $1.40 billion, increased $162 million year-over-year, or 13.1%, primarily due to $106 million of incremental revenue from our acquisition of TEGNA and higher advertising and distribution revenue from ou

  4. Slide 4: Capital Allocation

    FIRST QUARTER 2026 EARNINGS RELEASE Capital Allocation • In the first quarter of 2026, the Company used cash on hand and cash flow from operations to repay $28 million of debt, acquire TEGNA for $3,657 million and pay $56 million in dividends. ($ in millions, shares in thousands) Three Months Ended

  5. Slide 5: Debt, Cash and Leverage

    FIRST QUARTER 2026 EARNINGS RELEASE Debt, Cash and Leverage • As of March 31, 2026, the consolidated debt of Nexstar and Mission Broadcasting, Inc., an independently owned variable interest entity, was $12.2 billion, including senior secured debt of $9.4 billion. • As of March 31, 2026, the Company’

  6. Slide 6: First Quarter Conference Call; Forward-Looking Statements

    FIRST QUARTER 2026 EARNINGS RELEASE First Quarter Conference Call Nexstar will host a conference call at 10:00 a.m. ET today. Senior management will discuss the financial results and host a question-and-answer session. To access the conference call, interested parties may dial 1-877-407-9208 or 1-20

  7. Slide 7: Definitions and Disclosures Regarding Non-GAAP Financial Information

    FIRST QUARTER 2026 EARNINGS RELEASE Definitions and Disclosures Regarding Non-GAAP Financial Information Adjusted EBITDA is calculated as net income, plus or (minus): transaction, other one-time and restructuring expenses, stock-based compensation expense, depreciation and amortization expense (excl

  8. Slide 8: About Nexstar

    About Nexstar Media Group, Inc. Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across its television and digital platforms. For more information, please visit nexstar.tv

  9. Slide 9: Condensed Consolidated Statements of Operations

    FIRST QUARTER 2026 EARNINGS RELEASE Nexstar Media Group, Inc. Condensed Consolidated Statements of Operations (in millions, except for share and per share amounts, unaudited) Three Months Ended March 31, 2026 2025 Net revenue $1,396 $1,234 Operating expenses: Direct operating 611 551 Selling, genera

  10. Slide 10: Condensed Consolidated Statements of Cash Flows

    FIRST QUARTER 2026 EARNINGS RELEASE Nexstar Media Group, Inc. Condensed Consolidated Statements of Cash Flows ($ in millions, unaudited) Three Months Ended March 31, 2026 2025 Cash flows from operating activities: Net income $160 $97 Adjustments to reconcile net income to net cash provided by operat

  11. Slide 11: Reconciliation of Adjusted EBITDA (Non-GAAP Measure)

    FIRST QUARTER 2026 EARNINGS RELEASE Nexstar Media Group, Inc. Reconciliation of Adjusted EBITDA (Non-GAAP Measure) ($ in millions, unaudited) Three Months Ended March 31, 2026 2025 Net income $160 $97 Add (Less): Transaction, other one-time and restructuring expenses(1) 42 - Stock-based compensation

  12. Slide 12: Reconciliation of Free Cash Flow and Adjusted Free Cash Flow

    FIRST QUARTER 2026 EARNINGS RELEASE Nexstar Media Group, Inc. Reconciliation of Free Cash Flow and Adjusted Free Cash Flow (Non-GAAP Measure) ($ in millions, unaudited) Three Months Ended March 31, 2026 2025 Net cash provided by operating activities $289 $337 Add (Less): Capital expenditures (22) (3

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