NEXSTAR MEDIA Reports Q2 FY2023 Earnings of USD 1240.0 Million, Down 0.4% from Prior Year

🌥️Earnings Overview

NEXSTAR MEDIA ($NASDAQ:NXST) reported their total revenue for the second quarter of FY2023, ending on June 30 2023, as USD 1240.0 million – a decrease of 0.4% from the same period in the previous year. Net income was reported as USD 96.0 million, which was 57.8% lower than the previous year’s results.

Analysis

GoodWhale has conducted an analysis of NEXSTAR MEDIA‘s fundamentals and has found it to be a medium risk investment in terms of financial and business aspects. Specifically, GoodWhale’s Risk Rating indicates that the company’s financial and business health is somewhat vulnerable. Further, GoodWhale has detected 1 risk warning in the company’s balance sheet. To get more details on this risk warning, investors are encouraged to register with GoodWhale for further insights. In conclusion, NEXSTAR MEDIA is a medium risk investment. Investors who would like more detailed information are urged to register with GoodWhale to get a better understanding of the company’s financial and business health. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Nexstar Media. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Nexstar Media. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Nexstar Media. More…

Key Ratios Snapshot

Some of the financial key ratios for Nexstar Media are shown below. More…

Peers

The company competes with Sinclair Broadcast Group Inc, Fox Corp, and Klassik Radio AG in the provision of local news and entertainment programming.

– Sinclair Broadcast Group Inc ($NASDAQ:SBGI)

Sinclair Broadcast Group Inc is a publicly traded company with a market cap of 1.26B as of 2022. The company operates in the broadcasting industry and owns and operates, programs, or provides sales and other services to television stations in the United States. As of 2018, Sinclair Broadcast Group Inc operated a total of 193 television stations. The company also owns and operates four regional sports networks, a digital program network, and a cable network channel.

– Fox Corp ($NASDAQ:FOXA)

Fox Corporation is an American media company that is primarily involved in the production and distribution of news and entertainment content. The company has a market capitalization of 15.38 billion as of 2022 and a return on equity of 11.49%. Fox Corporation is the parent company of a number of media businesses, including the Fox News Channel, Fox Business Network, Fox Sports, and Fox Television Stations.

– Klassik Radio AG ($LTS:0EXW)

Klassik Radio AG is a German radio station that offers a wide range of classical music. It has a market cap of 22.97M as of 2022 and a return on equity of 14.02%. The company’s mission is to promote the appreciation of classical music and to make it accessible to as many people as possible.

Summary

NEXSTAR MEDIA reported their earnings results for the second quarter of FY2023, with total revenue of USD 1240.0 million and net income of USD 96.0 million. Compared to the same period in the previous year, revenue decreased by 0.4% and net income decreased by 57.8%. As a result of these results, the stock price moved down the same day. Investors should be cautious when considering investing in NEXSTAR MEDIA, as the company has shown signs of financial strain. Analyzing the trends in revenue and net income would be beneficial, as it could indicate potential future performance.

Additionally, staying updated with news related to the company could be useful when making a decision.