Earnings ·
Nexstar reports Q3 net revenue of $2.1 billion and net income of $250 million
NXSTNexstar Media Group, Inc.
Nexstar Media Group reported record third-quarter net revenue of $2.13 billion, a 78% increase year-over-year, driven by the acquisition of TEGNA and strong political advertising demand. Net income rose to $250 million from $65 million in the prior year period, while Adjusted EBITDA reached $756 million. The company generated $443 million in adjusted free cash flow and repaid $350 million of debt during the quarter. Nexstar operates a broadcast television network and local station group.