Nexstar Media Group, Inc. (NXST) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Nexstar Media Group, Inc.
Ticker: NXST CIK: 1142417

Exhibit 99.1

NEXSTAR MEDIA GROUP SECOND QUARTER NET REVENUE RISES 139% TO A RECORD $626.1 MILLION

Net Revenue Growth Drives Record 2Q Operating Income of $138.7 Million and Net Income of $48.4 Million

Record BCF of $226.9 Million, Adjusted EBITDA of $202.2 Million and

Free Cash Flow of $139.0 Million, Inclusive of One-Time Transaction Expenses

Repurchases 1.0 Million Shares During Second Quarter

Raises Average Annual Free Cash Flow Guidance for the 2017/2018 Cycle to Approximately $574 million

IRVING, Texas – August 8, 2017 – Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar” or “the Company”) today reported record financial results for the second quarter ended June 30, 2017 as summarized below.

Summary 2017 Second Quarter Highlights

	Three Months Ended June 30,									Six Months Ended June 30,
($ in thousands)	2017			2016			Change			2017			2016			Change
Local Revenue	$	237,980		$	97,608			+143.8	%	$	440,410		$	191,375			+130.1	%
National Revenue	$	91,063		$	35,877			+153.8	%	$	168,774		$	71,327			+136.6	%
Core Advertising Revenue	$	329,043		$	133,485			+146.5	%	$	609,184		$	262,702			+131.9	%

Political Revenue	$	6,456		$	11,257			(42.6	)%	$	8,451		$	23,011			(63.3	)%
Retransmission Fee Revenue	$	253,099		$	98,137			+157.9	%	$	484,994		$	195,450			+148.1	%
Digital Revenue	$	63,983		$	24,857			+157.4	%	$	110,688		$	47,390			+133.6	%
Other	$	4,272		$	1,455			+193.6	%	$	8,733		$	3,060			+185.4	%
Trade and Barter Revenue	$	13,361		$	11,744			+13.8	%	$	25,803		$	23,161			+11.4	%
Gross Revenue	$	670,214		$	280,935			+138.6	%	$	1,247,853		$	554,774			+124.9	%
Less: Agency Commission	$	44,099		$	18,941			+132.8	%	$	81,421		$	37,122			+119.3	%
Net Revenue	$	626,115		$	261,994			+139.0	%	$	1,166,432		$	517,652			+125.3	%

Gross Revenue Excluding Political	$	663,758		$	269,678			+146.1	%	$	1,239,402		$	531,763			+133.1	%

Income from Operations	$	138,685		$	64,007			+116.7	%	$	248,836		$	121,936			+104.1	%

Net income	$	48,455		$	24,799			+95.4	%	$	53,399		$	47,073			+13.4	%

Broadcast Cash Flow⁽¹⁾	$	226,936		$	103,247			+119.8	%	$	415,149		$	201,310			+106.2	%
Broadcast Cash Flow Margin⁽²⁾		36.2	%		39.4	%					35.6	%		38.9	%

Adjusted EBITDA Before One-Time Transaction Expenses⁽¹⁾	$	208,284		$	92,289			+125.7	%	$	379,900		$	179,087			+112.1	%
Adjusted EBITDA Before One-Time Transaction Expenses Margin⁽²⁾		33.3	%		35.2	%					32.6	%		34.6	%

Adjusted EBITDA⁽¹⁾	$	202,178		$	90,220			+124.1	%	$	325,992		$	172,472			+89.0	%
Adjusted EBITDA Margin⁽²⁾		32.3	%		34.4	%					27.9	%		33.3	%

Free Cash Flow Before One-Time Transaction Expenses⁽¹⁾	$	145,121		$	50,637			+186.6	%	$	247,864		$	107,463			+130.7	%

Free Cash Flow⁽¹⁾	$	139,015		$	48,568			+186.2	%	$	193,956		$	100,848			+92.3	%

(1)	Definitions and disclosures regarding non-GAAP financial information including reconciliations are included at the end of the press release.

(2)	Broadcast cash flow margin is broadcast cash flow as a percentage of net revenue. Adjusted EBITDA margin is Adjusted EBITDA as a percentage of net revenue.

The following information was filed by Nexstar Media Group, Inc. (NXST) on Tuesday, August 8, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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