Nexstar Media Group (NXST) reported another great quarter driven by political advertising and tight management of operating expenses. Results easily exceeded recently raised consensus estimates. Throughout 2020, this has been a consistent pattern for NXST, a testament to the strength of the management team and the strategic and financial success of the acquisition of Tribune […]
Nexstar Media Group (NXST) reported better than expected results in 2Q20 across revenue, EBITDA, and FCF. The stock initially rallied sharply as would be expected but other traditional media companies that reported over the past 24 hours had lesser results and that eventually caught up with NXST and the shares traded down -4% which amazingly […]
Nexstar Media Group (NXST) shares responded well to the company’s 1Q20 earnings report as investors gained a better understanding of the stability of the company’s free cash flow. Shares in NXST were pummeled in the initial stages of the COVID-19 crisis despite a much less cyclical financial profile than the company had in Great Financial […]
Nexstar Media Group reported excellent 4Q19 results and raised its guidance for 2020/2021 average annual free cash flow by 15%. In a normal market this news would have been greeted by a sharp rise in the stock price, arguably up 5-10% or more. Alas, Nexstar reported right into the teeth of the market sell-off on […]
Nexstar Media Group (NXST) has been one of Northlake’s best performing stocks this year. The shares are up 38%, including a gain of about 10% since the company reported third quarter earnings last week. NXST has attracted investors due to its highly accretive acquisition of Tribune, which makes NXST the largest owner of local TV […]
Nexstar Media Group (NXST) reported 2Q results very slightly below consensus estimates. All guidance was reiterated. The company guides based on average 2018 and 2019 results given the highly cyclical nature of revenues due to political and Olympic advertising only occurring in even years. Management is careful about guidance and admitted on the call that […]
Nexstar Media Group (NXST) reported solid 1Q19 earnings with all important metrics matching Wall Street expectations. Core advertising, retransmission fees, and profit margins all stayed on the recent positive trend. Advertising has improved since last fall providing a nice boost to investor confidence. Retransmission or subscription fees are now about half of revenues making NXST […]
Nexstar Media Group (NXST) reported strong 4Q18 results and issued positive initial guidance for 2019 and 2020 on a standalone basis. NXST should complete its acquisition of Tribune Media in 3Q18 and reiterated initial guidance that the combined company will earn at least $900 million in average free cash flow in the 2019/2020 cycle. Local […]
Powered by the intense election fight, political ad sales drove Nexstar Media Group (NXST) to better than expected 3Q18 earnings. Management raised guidance for the year based on the political ad spending. Importantly, management also noted that after accounting for the displacement of core non-political advertising, traditional ad spending has modestly strengthened and is approaching […]
Nexstar Media Group (NXST) reported another solid quarter, further cementing the company as the most consistent, highest quality local TV broadcaster. A boom in political TV advertising and excellent expense control led to the company beating expectations for EBITDA, the key valuation metric for the industry. Critical to NXST and the industry is converting EBITDA […]
Office
20 N 3rd Street
Bayfield, WI 54814
Mail
PO Box 1165
Bayfield, WI 54814
tim@northlakecapital.com
847-226-9713
