Nexstar Media Group ( (NXST) ) has released its Q4 earnings. Here is a breakdown of the information Nexstar Media Group presented to its investors.
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Nexstar Media Group is a prominent player in the media industry, primarily operating as the largest owner of local broadcast television stations in the United States. The company is known for its extensive reach, covering nearly 85% of contested election markets, and its strategic presence in the broadcasting sector.
Nexstar Media Group has reported a record fourth-quarter net revenue of $1.49 billion for 2024, driven by significant growth in political advertising during the election year. The company’s net income for the quarter reached $229 million, with an adjusted EBITDA of $628 million, showcasing a robust financial performance.
Key financial highlights include a 14.1% increase in net revenue year-over-year, primarily due to a 29.6% rise in advertising revenue. The company also achieved a 39.9% increase in adjusted EBITDA, reflecting strong revenue growth and effective cost management. Nexstar reduced its debt by $327 million during 2024, achieving a net leverage of 2.91x, and returned $820 million to shareholders through dividends and share repurchases.
Looking ahead, Nexstar Media Group is optimistic about its financial prospects for 2025, with an adjusted EBITDA guidance ranging from $1.5 billion to $1.595 billion. The company plans to focus on renewing distribution contracts, enhancing profitability for The CW, and pursuing deregulation to sustain its growth trajectory.