NASDAQ$NXST
Nexstar Media Group Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Nexstar's Q2 2021 financial performance was marked by record net revenue and strong growth in core advertising and distribution revenue.
Nexstar Media Group reported record second quarter net revenue of $1,131.6 million, driven by a faster and stronger-than-anticipated recovery in core advertising and continued double-digit distribution revenue growth. Net income was $199.8 million, and Adjusted EBITDA reached $418.8 million. The company raised its pro-forma average annual free cash flow guidance for the 2021/2022 cycle to approximately $1.33 billion.
- Record second quarter net revenue of $1.13 billion, up 23.7% year-over-year.
- Net income increased by 103.5% year-over-year to $199.8 million.
- Adjusted EBITDA rose by 43.0% year-over-year to $418.8 million.
- Free cash flow was $181.2 million, impacted by the timing of 2021 operating cash tax payments.
Headline financials
Revenue & EPS history
Nexstar · Revenue · Quarterly
$1.13B
Revenue by segment
Nexstar · $617M total across 1 segment · Q2 2021
- Distribution$617M+15.0%100.0%
Forward guidance
Nexstar expects to generate year-over-year growth across all of its non-political revenue sources for the remainder of 2021 and has excellent visibility to deliver on or exceed its upsized free cash flow targets in the 2021/2022 cycle.
Tailwinds
- Operating momentum across businesses is expected to continue.
- Year-over-year growth is anticipated across all non-political revenue sources for the remainder of 2021.
- The company has excellent visibility to deliver on or exceed its upsized free cash flow targets in the 2021/2022 cycle.
- The company's assets and operations provide a solid foundation.
- The business model's resiliency ensures consistency in results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
+0.9%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+3.6%
Avg return
30 days after
59%
38 / 64 earnings
Positive
+11.5%
Q1 2020
Best reaction
-10.3%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.5% | -0.0% | -7.8% | |
| Q4 2025 | +5.5% | +4.7% | -8.3% | |
| Q3 2025 | -3.4% | -0.7% | -3.7% | |
| Q1 2025 | +5.4% | +11.9% | +8.4% | |
| Q4 2024 | +11.1% | +16.0% | +20.6% | |
| Q3 2024 | -9.4% | -8.2% | -7.1% | |
| Q2 2024 | -7.9% | -8.5% | -6.1% | |
| Q1 2024 | +2.5% | +6.9% | -6.9% | |
| Q4 2023 | +2.3% | -3.9% | +6.1% | |
| Q3 2023 | -4.8% | -5.1% | -1.9% | |
| Q2 2023 | -10.3% | -10.5% | -27.4% | |
| Q1 2023 | -3.6% | -3.7% | +1.4% | |
| Q4 2022 | -3.2% | -4.9% | -11.5% | |
| Q3 2022 | +2.5% | +8.5% | +17.4% | |
| Q2 2022 | +1.9% | +3.1% | +0.5% | |
| Q1 2022 | +6.2% | +12.9% | +12.6% | |
| Q4 2021 | -3.2% | +1.9% | +8.2% | |
| Q3 2021 | +6.1% | +8.6% | +0.1% | |
| Q2 2021 | +3.3% | +1.6% | +0.6% | |
| Q1 2021 | +0.6% | -0.6% | +0.2% | |
| Q4 2020 | +8.1% | +7.0% | +13.6% | |
| Q3 2020 | +5.6% | +15.8% | +35.3% | |
| Q2 2020 | -0.3% | -0.3% | +6.8% | |
| Q1 2020 | +11.5% | +18.8% | +53.1% | |
| Q4 2019 | -1.8% | +1.3% | -45.1% | |
| Q3 2019 | +5.0% | +11.6% | +12.3% | |
| Q2 2019 | -0.3% | -0.1% | +2.5% | |
| Q1 2019 | +0.3% | -3.4% | -10.5% | |
| Q4 2018 | +5.1% | +11.8% | +21.6% | |
| Q3 2018 | -2.6% | -3.3% | +2.5% | |
| Q2 2018 | +1.0% | +0.6% | +4.3% | |
| Q1 2018 | +1.9% | +6.6% | +13.2% | |
| Q4 2017 | -3.1% | -1.5% | -9.8% | |
| Q3 2017 | +3.5% | +4.1% | +12.9% | |
| Q2 2017 | +3.0% | +2.9% | -5.1% | |
| Q1 2017 | +0.5% | -3.4% | -2.0% | |
| Q4 2016 | +4.2% | +3.0% | +0.2% | |
| Q3 2016 | +4.9% | +20.7% | +34.5% | |
| Q2 2016 | -3.1% | +1.4% | +3.2% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | +7.1% | — | — | |
| Q3 2015 | +1.0% | — | — | |
| Q2 2015 | +0.2% | — | — | |
| Q1 2015 | -2.1% | — | — | |
| Q4 2014 | +0.5% | — | — | |
| Q3 2014 | +4.8% | — | — | |
| Q2 2014 | +3.5% | — | — | |
| Q1 2014 | -4.0% | — | — | |
| Q4 2013 | -3.9% | — | — | |
| Q3 2013 | -1.3% | — | — | |
| Q2 2013 | -5.1% | — | — | |
| Q1 2013 | +6.7% | — | — | |
| Q4 2012 | +4.9% | — | — | |
| Q3 2012 | +1.9% | — | — | |
| Q2 2012 | +2.5% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | -0.5% | — | — | |
| Q2 2011 | -0.5% | — | — | |
| Q3 2011 | -1.5% | — | — | |
| Q4 2010 | +7.8% | — | — | |
| Q3 2010 | -6.9% | — | — | |
| Q2 2010 | +2.2% | — | — | |
| Q1 2010 | -2.0% | — | — |
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