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Dec 31, 2019
Nexstar Q4 2019 Earnings Report
Nexstar's Q4 2019 financial results were released, showing a significant increase in net revenue driven by the Tribune Media acquisition and strong performance in core advertising and distribution revenue.
Key Takeaways
Nexstar Media Group reported record fourth-quarter net revenue of $1.1 billion, a 37.9% increase year-over-year, driven by growth in core advertising, distribution, and digital revenue, with significant contributions from the recent Tribune Media acquisition. The company's focus on integration and synergy realization led to strong financial results.
Net revenue increased by 37.9% to $1.1 billion, driven by the Tribune Media acquisition.
Core advertising revenue rose by 76.1%, indicating strong underlying business performance.
Distribution revenue increased by 56.7% to a record $445.8 million due to new agreements and synergies.
The company repurchased $45.1 million of common shares, demonstrating a commitment to shareholder returns.
Nexstar
Nexstar
Nexstar Revenue by Segment
Revenue by Segment
Distribution Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Nexstar anticipates significant free cash flow growth for the 2020/2021 cycle, driven by factors like the Super Bowl, Olympics, distribution revenue growth, and election cycle spending. The company expects to generate pro-forma average annual free cash flow in excess of $1.175 billion.
Positive Outlook
- Expected record levels of 2020 election cycle spending.
- Continued double-digit growth in distribution revenue.
- Synergies from the Tribune Media transaction.
- Super Bowl on FOX and Summer Olympics on NBC.
- Continued sharing of best practices between Nexstar and Tribune organizations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income