In This Article:
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Total Net Revenue: $5.4 billion for the full year, a company record.
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Adjusted EBITDA: $2 billion for the full year.
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Adjusted Free Cash Flow: $1.2 billion for the full year.
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Shareholder Returns: $820 million returned through share repurchases and dividends, reducing shares outstanding by nearly 9% during the year.
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Debt Reduction: $327 million allocated toward debt reduction, achieving a net leverage of 2.91 times.
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Fourth Quarter Net Revenue: $1.5 billion, up 14% year-over-year.
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Fourth Quarter Distribution Revenue: $714 million, a 1.4% increase over the prior year.
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Fourth Quarter Advertising Revenue: $758 million, a 29.6% increase year-over-year.
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Political Revenue: $491 million for the year, maintaining a 13% market share of all television political advertising spending.
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Fourth Quarter Adjusted EBITDA: $628 million, representing a 42.2% margin.
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Fourth Quarter Adjusted Free Cash Flow: $411 million.
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2025 Adjusted EBITDA Guidance: $1.5 to $1.595 billion.
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2025 CapEx Guidance: $120 to $125 million for the year.
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2025 Cash Interest Expense Guidance: $375 to $380 million.
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Dividend Increase: 12th consecutive annual increase, with a near 5% yield.
Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Nexstar Media Group Inc (NASDAQ:NXST) achieved a record $5.4 billion in total net revenue for 2024, marking the highest in the company's history.
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The company returned $820 million, or 68% of adjusted free cash flow, to shareholders through share repurchases and dividends.
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Nexstar Media Group Inc (NASDAQ:NXST) announced its 12th consecutive annual increase in the quarterly cash dividend, reflecting a near 5% yield.
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The CW network's transformation into a top-tier broadcast network continued, with significant improvements in ratings and advertising revenue.
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Nexstar Media Group Inc (NASDAQ:NXST) achieved a record fourth quarter net revenue of $1.5 billion, up 14% compared to the prior year, driven by strong election-year political advertising.
Negative Points
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Nexstar Media Group Inc (NASDAQ:NXST) faced a $51 million year-over-year reduction in non-political advertising revenue due to market softness and political displacement.
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The company experienced continued weakness in automotive advertising and insurance advertising due to recent natural disasters.
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Nexstar Media Group Inc (NASDAQ:NXST) anticipates operating expenses to be reduced in the low to mid-eight figures due to operational restructuring, indicating cost-cutting measures.
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The CW network is still operating at a loss, although it is expected to reduce losses by more than 25% in 2025.
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Subscriber attrition remains a challenge, although Nexstar Media Group Inc (NASDAQ:NXST) expects a slight improvement in the rate of attrition.