Nexstar Media Group Inc (NASDAQ:NXST) Reports Mixed Q2 2025 Results: Revenue Slightly Misses, EPS Beats Estimates

NEXSTAR MEDIA GROUP INC (NASDAQ:NXST) reported second-quarter 2025 financial results, with net revenue of $1.23 billion, slightly below analyst estimates of $1.234 billion. Earnings per share (EPS) came in at $3.06, surpassing expectations of $2.75. The market reaction has been muted in pre-market trading, with shares up just 0.5%, suggesting investors are digesting the mixed performance.

Key Financial Highlights

• Revenue: $1.229 billion (down 3.2% YoY, slightly below estimates).
• EPS: $3.06 (beating estimates by ~11%).
• Net Income: $91 million (down 14.2% YoY).
• Adjusted EBITDA: $389 million (down 6% YoY).

Revenue Breakdown

• Distribution Revenue: $733 million (flat YoY).
• Advertising Revenue: $475 million (down 9% YoY), primarily due to lower political ad spending in a non-election year.
• Other Revenue: $21 million (up 61.5% YoY).

Market Reaction & Outlook

The slight revenue miss was offset by stronger-than-expected EPS, likely due to cost controls and lower interest expenses. The company’s focus on debt reduction ($101 million repaid in Q2) and share buybacks (311,998 shares repurchased) may have contributed to investor confidence. However, the muted pre-market movement suggests a wait-and-see approach ahead of the mid-term election cycle, which could boost political ad revenue in 2026.

Operational Highlights

• The CW Network: Ranked #8 in total audience, with sports now accounting for over 40% of programming.
• NewsNation: Fastest-growing cable news network, with viewership up nearly 50% YoY.
• Debt & Liquidity: Consolidated debt stands at $6.4 billion, with a first-lien net leverage ratio of 1.81x.

Looking Ahead

Analysts estimate Q3 2025 revenue at $1.247 billion and full-year revenue at $5.031 billion. Nexstar did not provide explicit guidance, but CEO Perry Sook expressed optimism about regulatory reforms and the 2026 political ad cycle.

For more detailed earnings estimates and historical performance, visit Nexstar Media Group’s earnings page.

Disclaimer: This article is not investment advice. Investors should conduct their own research before making decisions.