Nexstar reports Q3 EPS $2.14, consensus $1.83

Reports Q3 revenue $1.2B, consensus $1.2B. “In the third quarter, we took a major step forward in shaping Nexstar’s (NXST) future as we entered into a definitive agreement to acquire TEGNA Inc. for $6.2 billion in a highly accretive transaction. Operationally, our core business is performing well, with stable year-over-year distribution and non-political advertising revenue and strong expense management resulting in lower year-over-year operating expenses. In addition, we continued to progress our network growth strategies as NewsNation was, once again, the fastest growing cable network in the quarter, and The CW generated its sixth consecutive quarter of primetime ratings growth and reduced losses by 24% year-over-year. Looking forward, we are focused on completing our upcoming distribution renewals, closing our acquisition of TEGNA Inc., and capitalizing on the 2026 mid-term election political advertising opportunity, all of which we anticipate will drive shareholder value.”