Buyback: The company repurchased shares worth $178 million in the quarter.
Nexstar CEO Perry A. Sook credited the record net revenue to increased election year political advertising.
Nexstar has a presence in “nearly 85% of contested election markets across the country,” he said.
The company continued to grow distribution revenue, Sook added.
In 2025, key company initiatives include renewing distribution contracts representing approximately 60% of Nexstar’s subscriber base.
Outlook: Nextar Media sees FY25 adjusted EBITDA of $1.5 billion to $1.595 billion.
Price Action: Nexstar shares are up 5.92% at $155.00 premarket at the last check Thursday.
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