Line of Credit 
Print FormatNexstar Media Tops Q1 Backed By Advertising, Distribution Revenue Growth
- Nexstar Media Group, Inc NASDAQ:NXST reported a first-quarter FY22 net revenue growth of 8.6% year-on-year to
$1.21 billion , beating the consensus of$1.19 billion . - Revenues from Total Television Advertising rose 8.3% Y/Y to
$451.8 million , comprising Core Advertising revenue that climbed 4% Y/Y to$428.1 million and a 338.9% growth in Political Advertising revenue to$23.7 million . - Distribution revenue rose 7.5% Y/Y to
$667.9 million . Digital revenue expanded 18.5% Y/Y to$78.7 million . - Margin: The adjusted EBITDA margin expanded 180 bps to 53.1%.
- EPS of
$5.99 beat the consensus of$4.89 . - Nexstar Media generated
$560.4 million in free cash flow. - Chair and CEO
Perry A. Sook commented, "Our top-and bottom-line results benefitted from strong year-over-year increases across all of our core and political advertising, distribution and digital revenue sources and first-quarter cash distribution from our TV Food Network ownership interest." - Outlook: Nexstar reiterated a Pro-forma average annual free cash flow of
$1.4 billion for the 2022/2023 cycle. - Price Action: NXST shares traded higher by 1.97% at
$155.40 in pre-market on the last check Tuesday.
