NEXSTAR MEDIA GROUP, INC. (NXST) Form 10-Q — Aug 7, 2026
Nexstar's Q2 2026 net revenue rose 62.2% year over year to $1.99 billion ($3.39 billion for H1, up 37.7%), with diluted EPS of $3.61 versus $3.06 a year ago, driven by the TEGNA merger completed March 19, 2026, which added 64 full-power stations in 51 markets. The acquisition — funded with $3,341 million of cash paid for acquisitions and a massive refinancing including $3.39 billion of 6.50% secured notes due 2033 and $1.73 billion of 7.25% notes due 2034 — lifted total assets 63% to $17.7 billion, but Q2 net interest expense nearly doubled to $190 million.
Key figures
- Eps
- $3.61 diluted (Q2 2026) vs $3.06 prior year; $8.71 diluted (H1 2026) vs $6.43
- Revenue
- $1,993M (Q2 2026); $3,389M (H1 2026)
- Net Income
- $120M attributable to Nexstar (Q2 2026); $284M attributable (H1 2026)
- Debt Amount
- $11,106M proceeds from debt issuances in H1 2026; $8,149M repaid; ~$11.7B carrying value of Nexstar and Mission long-term debt (computed sum of disclosed instrument carrying amounts)
- Revenue Yoy
- +62.2% (Q2); +37.7% (H1)
- Total Assets
- $17,715M at June 30, 2026 vs $10,846M at Dec 31, 2025
- Cash Position
- $218M at June 30, 2026 (vs $280M at Dec 31, 2025)
- Interest Rate
- 6.50% Senior Secured Notes due 2033 ($3,390M); 7.25% Senior Unsecured Notes due 2034 ($1,725M); Term Loan B due 2033 at SOFR+2.75%
- Maturity Date
- 6.50% Secured Notes due Sep 15, 2033; 7.25% Notes due Apr 15, 2034
- Cw ownership
- 81.1%
- Dividends paid h1
- $113M ($3.72/share declared in H1)
- Station footprint
- 265 full power TV stations in 132 markets; ~80% of U.S. TV households
- Effective tax rate q2
- 36.2% vs 30.0% prior year
- Tv food network stake
- 31.3%; book value $286M vs $372M at Dec 31, 2025
- Operating cash flow h1
- $587M
- Q2 advertising revenue
- $862M (+81.5% YoY)
- Q2 distribution revenue
- $1,116M (+52.3% YoY)
- Q2 interest expense net
- $190M vs $97M prior year
- Tegna segment q2 revenue
- $697M
- Quarterly dividend declared
- $1.86/share on July 31, 2026, payable Aug 28, 2026
- Broadcast segment q2 revenue
- $1,236M (segment profit $491M)
- Cash paid for acquisitions h1
- $3,341M (TEGNA)
- Buyback authorization remaining
- $1.4 billion as of June 30, 2026
- Cw redeemable nci redemption value
- $110M (a holder exercised put right on Aug 4, 2026)
Price after filing
Close on the filing date to close N calendar days later (from $190.03). Historical, not a forecast.
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