Nexstar Broadcasting Group, Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2015; Provides Free Cash Flow and Capex Guidance for the Year 2015
Aug 6 15
Nexstar Broadcasting Group, Inc. announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2015. For the quarter, the company reported net revenue of $221,322,000, income from operations of $52,542,000, income before income taxes of $32,001,000, net income attributable to company of $20,321,000 or $0.63 per diluted share, adjusted EBITDA of $74,887,000 compared to the net revenue of $146,930,000, income from operations of $34,942,000, income before income taxes of $19,405,000, net income attributable to company of $10,944,000 or $0.34 per diluted share, adjusted EBITDA of $49,600,000 for the same quarter a year ago. Free cash flow was $50,069,000 against $30,378,000 a year ago. Core revenue was $132,784,000 against $96,536,000 a year ago. CapEx was at $5.7 million compared to the year-ago quarter of $5.1 million.
For the six months period, the company reported net revenue of $22,157,000, income from operations of $90,446,000, income before income taxes of $50,494,000, net income attributable to of $33,228,000 or $1.03 per diluted share, adjusted EBITDA of $138,932,000 compared to the net revenue of $280,763,000, income from operations of $62,642,000, income before income taxes of $31,807,000, net income attributable to of $18,297,000 or $0.57 per diluted share, adjusted EBITDA of $91,708,000 for the same period a year ago. Free cash flow was $93,022,000 against $55,633,000 a year ago. Core revenue was $252,886,000 against $189,367,000 a year ago. Capex was
The company expects 2015 to mark the company’s fourth consecutive year of record free cash flow as the company prepare for what are expected to be record levels of political advertising in 2016. Proforma free cash flow was expected to be approximately $456 million for the full year cycle, or average pro forma free cash flow of approximate $7.30 per share per year. Budgeted CapEx remain at approximately $25 million inclusive of the required investment in the new affiliations in Waco and Lafayette.
Nexstar Broadcasting Group Eyes Acquisitions
Aug 6 15
Nexstar Broadcasting Group, Inc. (NasdaqGS:NXST) intends to make acquisitions. Perry A. Sook, Chairman, President and Chief Executive Officer of Nexstar said: "In summary, Nexstar's ongoing operating execution and discipline in managing costs, combined with select accretive station transactions have positioned the Company to achieve record revenue and free cash flow in 2015, 2016 and beyond. Importantly, our station platform now reaches approximately 18% of all U.S. television households. As such there remains considerable opportunity for Nexstar to further expand our platform through additional accretive station and digital media acquisitions and we remain active and engaged on this front. At the same time, our focus on the capital structure and cost of capital have positioned Nexstar with the financial flexibility to simultaneously further consolidate mid-sized markets and return capital to shareholders while maintaining a favorable leverage profile, which, pro-forma for the completion of all announced transactions is expected to result in a total leverage ratio of approximately 3.0 times at year-end 2016."
Nexstar Broadcasting Group, Inc. Appoints Chris Pruitt as Vice President and General Manager of Central Texas Television and Digital Operations
Jul 28 15
Nexstar Broadcasting Group, Inc. announced that Chris Pruitt has been appointed Vice President and General Manager of KWKT-TV (FOX), KYLE-TV (MyNetworkTV) and associated digital services, including Estrella TV and community web portal MyCenTX.com serving the Waco, Temple and Bryan, TX market DMA (#87). Mr. Pruitt will assume his new responsibilities immediately and report to Julie Pruett, Senior Vice President of Nexstar Broadcasting. Before his return to Nexstar, he served as VP and General Manager of KMVT-TV (CBS/CW) and KSVT-TV (FOX) in Twin Falls, ID for five years where he successfully directed the stations.
Nexstar Broadcasting Group, Inc. Declares Quarterly Cash Dividend, Payable on August 28, 2015
Jul 24 15
Nexstar Broadcasting Group, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.19 per share of its Class A common stock. The dividend is payable on August 28, 2015, to shareholders of record on August 14, 2015.