Nexstar announced their earnings for Q1 of 2025 on Thursday, disclosing that The CW experienced a setback during the January 1 – March 31 timeframe as it continued its path towards profitability, according to their report.
As anticipated, Nexstar’s Q1 profits dropped by tens of millions due to increased sports broadcasting and costs not incurred during the same period last year, according to Michael Biard, Nexstar’s president and COO. Despite this decline, our forecast for the entire year remains the same, and we still predict better profits in 2025 compared to 2024. We aim to reach profitability by around 2026.
Back in October 2022, Nexstar gained a 75% ownership of The CW from its previous owners, Paramount Global and Warner Bros. Discovery. Since then, Nexstar has been working hard to turn around the network’s historical losses. However, they have stopped providing detailed quarterly reports on The CW’s performance as they did initially following the acquisition. By February 2024, they disclosed that they had managed to cut down the year-on-year losses at The CW by $7 million in the last quarter of 2024, and a total of $126 million for the entire year.
In summary, Nexstar’s distribution sales during Q1 2025 amounted to approximately $762 million, barely showing any change compared to the same time frame last year. However, ad sales experienced a decline of 10%, totaling $460 million.
Analysts predict an earnings per share (EPS) of $3 from a total revenue of approximately $1.23 billion, according to data compiled by LSEG. However, Nexstar reported a diluted EPS of $3.37 for the same revenue figure.
Nexstar reported robust first-quarter earnings, including Net Revenue, Adjusted EBITDA, and Adjusted Free Cash Flow, thanks to a record high in distribution revenue and careful cost management. As the country’s largest local broadcaster, our size allows us to achieve strong operational results and cash flow, which we utilize for organic growth initiatives to enhance The CW and NewsNation into premier networks. In the recent quarter, we utilized our Adjusted Free Cash Flow to settle debts, issue dividends, buy back shares, and potentially make more acquisitions in the future with our robust financial standing. For the rest of 2025, our priorities include renewing distribution contracts covering about 60% of our annual subscriber base, moving towards profitability at The CW, preparing for the 2026 political cycle, and advocating for deregulation.
(Pictured above: The CW’s “All American.”)
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2025-05-08 18:06