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Dec 31, 2024
Nexstar Q4 2024 Earnings Report
Nexstar Media Group reported record Q4 2024 revenue, driven by political advertising and distribution growth.
Key Takeaways
Nexstar Media Group achieved record net revenue of $1.49 billion in Q4 2024, reflecting a 14.1% year-over-year increase, mainly due to a surge in political advertising revenue. Net income reached $229 million, more than doubling from the prior year. Adjusted EBITDA rose by 39.9% to $628 million, while free cash flow increased by 67.8% to $411 million. The company continued reducing debt and returning capital to shareholders.
Total net revenue reached $1.49 billion, up 14.1% year-over-year.
Political advertising revenue surged to $254 million, offsetting declines in non-political ad sales.
Net income increased 129% year-over-year to $229 million.
Adjusted EBITDA grew 39.9% to $628 million, driven by revenue growth.
Nexstar
Nexstar
Nexstar Revenue by Segment
Revenue by Segment
Distribution Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Nexstar expects continued revenue growth in 2025, supported by strong distribution agreements, improving profitability at The CW, and an increasing share of political ad spending.
Positive Outlook
- 2025 Adjusted EBITDA guidance set between $1.5 billion and $1.595 billion.
- Political advertising expected to remain a major revenue driver.
- Improved profitability at The CW Network expected to contribute to earnings growth.
- Renewal of key distribution agreements covering 60% of the subscriber base.
- Strong balance sheet with ongoing debt reduction initiatives.
Challenges Ahead
- Non-political advertising market remains soft.
- Ongoing subscriber attrition impacting distribution revenue growth.
- Higher interest rates may increase financing costs.
- Competition in digital advertising space continues to intensify.
- Potential regulatory changes could impact business operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income