Nexstar Media Q2 revenue jumps 62%, beats expectations

Nexstar Media

06/08/2026 12:38

Overview
US media broadcaster's Q2 revenue rose 62% yr/yr, beating analyst expectations
Q2 adjusted EBITDA rose 63% yr/yr, beating analyst expectations
Company repaid $409 mln of debt and paid $57 mln in dividends in Q2

Outlook
Nexstar expects strong free cash flow generation in the second half of 2026
Company says ongoing litigation may impact realization of TEGNA acquisition synergies

Result Drivers
TEGNA ACQUISITION - Co said record revenue and profit growth were primarily driven by incremental revenue from the acquisition of TEGNA
POLITICAL ADVERTISING - Co said higher political advertising revenue, especially in an election year, contributed to increased advertising revenue
DISTRIBUTION REVENUE - Co said higher distribution revenue was driven by TEGNA acquisition, increased rates, growth in vMVPD subscribers, and new CW affiliations, partly offset by MVPD subscriber attrition

Company press release: ID:nBw6KtQfHa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.99 bln
$1.97 bln (7 Analysts)
Q2 Net Income
 
$113 mln
 
Q2 Adjusted EBITDA
Beat
$633 mln
$619.81 mln (7 Analysts)
Q2 Income from Operations
 
$362 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the broadcasting peer group is "buy"
Wall Street's median 12-month price target for Nexstar Media Group Inc is $254.00, about 33.7% above its August 5 closing price of $190.03
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)