Nexstar Media Group, Inc. (NXST) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

of historical fact may be deemed forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Nexstar cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those reflected by the forward-looking statements made during this call. For additional details on these risks and uncertainties, please see Nexstar's annual report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission. and Nextar's subsequent public filings with the SEC. Nextar undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. It's now my pleasure to turn the conference over to your host, Nextar founder, chairman, and chief executive officer, Perry Suk. Perry, please go ahead. Thank you, Joe, and good morning, everyone. We appreciate you all joining us today. Mike Baird, our chief operating officer, and Leanne Gleha, our chief financial officer, are with me here this morning. Next, I delivered another solid quarter of financial results with our second quarter net revenue, adjusted EBITDA, and adjusted free cash flow benefiting from better than expected advertising revenue, stable distribution revenue, and strong expense management. Overall, our core advertising business remains resilient while the pay TV landscape continues to evolve as we had anticipated. Though we have yet to see a definitive turnaround in video subscriber trends, we are encouraged by consistent early signs of improvement, with good reports in recent weeks from two of our largest MVPDs. For the first half of 2025, Nexstar generated adjusted EBITDA of $770 million and adjusted fre...