The broadcast media industry’s publicly traded radio and television companies may have just released their second quarter financial results one week ago, but that hasn’t stopped the nation’s largest owner of broadcast TV stations from announcing when it plans on distributing its Q3 fiscal report card.
Nexstar Media Group has announced that its third quarter earnings report will arrive on Thursday, November 7. A conference call featuring Chairman/CEO and company founder Perry Sook, Chief Financial Officer Lee Ann Gliha and other C-Suiters will be held at 10am Eastern that day.
What can investors expect to hear from the company that owns WGN Radio, NewsNation, and the most broadcast TV stations in the U.S. while also enjoying a controlling interest in The CW and a cozy shared services arrangement with Mission Broadcasting?
Of the eight analysts offering Earnings Per Share estimates to Yahoo! Finance, the spread is wide, suggesting non-consensus with the consensus estimate of $6.23. The high estimate is $10.41; the low estimate is $4.40.
Meanwhile, nine analysts chimed in on where Nexstar’s revenue will likely fall in Q3. The consensus estimate comes in at $1.4 billion, reflecting strong 23.5% year-over-year growth likely due to political and further monetization of The CW.
Investors have enjoyed a strong performance for Nexstar shares across 2024, with the Nasdaq GlobalSelect market-traded stock holding its own as some the company’s peers have seen significant challenges on Wall Street. By comparison, shares of The E.W. Scripps Co. have lost more than two-thirds of their value since January 1.
