Benzinga | May 4, 2021 07:26AM EDT

Nexstar Media Group: Q1 Earnings Insights



Shares of Nexstar Media Group (NASDAQ:NXST) were unchanged after the company reported Q1 results.

Quarterly Results

Earnings per share rose 38.56% year over year to $4.42, which beat the estimate of $3.48.

Revenue of $1,114,000,000 rose by 2.01% from the same period last year, which beat the estimate of $1,080,000,000.

Guidance

Nexstar Media Group hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: May 04, 2021

Time: 09:00 AM

ET Webcast URL: https://lumen.webcasts.com/starthere.jsp?ei=1449136&tp_key=e3410624a5

Price Action

52-week high: $163.62

Company's 52-week low was at $62.81

Price action over last quarter: Up 6.79%

Company Description

Nexstar is the largest television station owner/operator in the United States, with 197 stations in 115 markets. Of its 197 full-power stations, 158 are affiliated with the four national broadcasters: CBS (50), Fox (43), NBC (35), and ABC (30). The 2019 merger with Tribune made Nexstar the top broadcast affiliate for both Fox and CBS as well as the number-two partner for NBC and number three for ABC. The firm now has networks in 15 of the top 20 television markets and reaches 69 million television households. Nexstar also owns WGN, a nationwide pay-television network, and a 31% stake in Food Network and Cooking Channel.