Nexstar Media GAAP EPS of $5.56 beats by $0.50, revenue of $1.25B beats by $20M

Aug. 04, 2022 7:12 AM ETNexstar Media Group, Inc. (NXST)By: Niloofer Shaikh, SA News Editor9 Comments
  • Nexstar Media press release (NASDAQ:NXST): Q2 GAAP EPS of $5.56 beats by $0.50.
  • Revenue of $1.25B (+10.6% Y/Y) beats by $20M.
  • “We continue to have solid three-year visibility on our growth trajectory, given the expected continuation of strong political advertising for the 2022 mid-term and 2024 presidential election cycles and the renewals of distribution agreements in 2022 and 2023 representing the substantial majority of our subscribers. In addition, we do not currently see evidence that macroeconomic challenges are having a material impact on Nexstar’s business. As a result, we are reiterating our pro forma average annual free cash flow guidance of $1.4 billion over the 2022/2023 cycle. The Board’s recent approval of a new $1.5 billion share repurchase authorization, further underpins our confidence in Nexstar’s free cash flow growth outlook.”

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