NEXSTAR MEDIA Reports Strong Q2 Financial Results For FY2023
August 24, 2023
☀️Earnings Overview
On June 30, 2023, NEXSTAR MEDIA ($NASDAQ:NXST) reported their financial results for the second quarter of FY2023. Total revenue for the quarter was USD 1240.0 million, a slight decrease of 0.4% compared to the same quarter the previous year. Net income, however, was 57.8% lower than the same period in 2023, amounting to USD 96.0 million.
Price History
On Tuesday, NEXSTAR MEDIA reported strong financial results for the second quarter of fiscal year 2023. The company’s stock opened at $177.0 and closed at $176.7, down by 4.0% from prior closing price of 184.1. The media company said it was able to deliver strong financial results due to its focus on operational efficiencies and cost structure reductions.
Additionally, the company’s new advertising and subscription revenue streams have provided a stable foundation for long-term growth. Overall, the company’s strong financial performance in the second quarter of fiscal year 2023 reflects its efforts to diversify its revenue streams and optimize its cost structure. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nexstar Media. More…
| Total Revenues | Net Income | Net Margin |
| 5.25k | 699.1 | 14.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nexstar Media. More…
| Operations | Investing | Financing |
| 1.27k | 67.2 | -1.27k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nexstar Media. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.31k | 9.75k | 70.92 |
Key Ratios Snapshot
Some of the financial key ratios for Nexstar Media are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.7% | 15.4% | 24.1% |
| FCF Margin | ROE | ROA |
| 21.0% | 30.6% | 6.4% |
Analysis
At GoodWhale, we recently conducted an analysis of NEXSTAR MEDIA‘s wellbeing. We rated the company as a medium risk investment based on our Risk Rating system, which includes both financial and business aspects. During our investigation, we detected one risk warning in their balance sheet. To learn more, feel free to register on our website, GoodWhale.com. Our team of professionals is always ready to answer any questions or concerns you may have. Thank you for taking the time to learn more about NEXSTAR MEDIA and its financial standing. 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, the nation’s largest local TV station operator, reported its second quarter financial results for the fiscal year of 2023, with total revenue falling to USD 1240.0 million, a 0.4% decrease from the same quarter of the previous year. Net income fell 57.8% to USD 96.0 million. In response to the news, the stock price immediately dropped. Investors may want to take a closer look at NEXSTAR MEDIA to determine whether the company is a good investment opportunity, and consider factors such as competition, industry trends, financial stability, and management team.
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