Overview

* Nexstar Q2 revenue largely flat at $1.23 bln, beating analyst expectations, per LSEG data

* Net income for Q2 falls 14.2% yr/yr, impacted by lower political ad revenue

* Adjusted EBITDA for Q2 declines 6% yr/yr, reflecting reduced equity investment income

Outlook

* Nexstar optimistic about regulatory reform and distribution renewals

* Company expects to capitalize on 2026 mid-term election advertising

* Nexstar sees opportunity in expanding sports programming at The CW

* Company anticipates growth from NewsNation's increasing viewership

Result Drivers

* POLITICAL ADVERTISING - Revenue decline attributed to lower political advertising in non-election year

* NETWORK GROWTH - The CW and NewsNation's audience growth offset some revenue declines

* EXPENSE MANAGEMENT - Strong expense management partially mitigated revenue shortfall

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $1.23 $1.21

Revenue bln bln (8

Analysts

)

Q2 EPS $3.06

Q2 Net $91 mln

Income

Q2 $389 mln

Adjusted

EBITDA

Q2 $213 mln

Income

from

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "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 ( NXST ) is $200.00, about 6.5% above its August 6 closing price of $186.99

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

(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.)