Investor Presentaiton
2021: Record First Quarter Financial Results
NXST Generated Record First Quarter Financial Results in 2021
NXST 2021 Financial Results Y/Y and Non-Political Odd-Year Comparison 1,2
3M Ended Mar. 31
(in millions)
3M Change (%)
Net Revenue
2021
$1,113.9
2020
$1,091.8
2019
$626.6
'21 vs. '20
+2.0%
Net Income
$199.2
$157.7
$56.9
+26.3%
'21 vs. '19
+77.8%
+250.1%
Adjusted EBITDA (Before 1x Transaction Exp.)
$572.6
$565.2
$183.8
+1.3%
+211.5%
Adjusted EBITDA
$571.4
$557.2
$178.4
+2.5%
Free Cash Flow (Before 1x Transaction Exp.)
Free Cash Flow
$484.6
$430.4
$125.8
$483.5
$423.0
$120.4
+12.6%
+14.3%
+220.3%
+285.2%
+301.6%
$ millions
Television Advertising Revenue
Core
$473
$55
Political
■ NXST's record first quarter net revenue reflects
double-digit digital and distribution revenue and a
continued recovery in core advertising
■ NXST's record first quarter Adjusted EBITDA and free
cash flow include ~$178 mm in cash distributions from
NXST's 31.3% ownership stake in TV Food Network
■ NXST lowered total net leverage to 3.4x, compared to
3.6x at year-end 2020
NXST First Quarter 2021 Revenue Growth
Distribution, Digital & Other Revenue
NXST 1Q21 Revenue Mix
(% of Total Net Revenue)
Distribution
$417
$5
Digital ■ Other
$697
$619
$9
$66
$13
$56
Other
1%
$373
Retrans &
Digital 62%
NXST 1Q21
$7
Net Revenue
$53
$621
~$1.1 Billion
$550
$253
$1
$417
$412
$252
$314
1Q19
1Q20
1Q21
1Q19
1Q20
1Q21
For a reconciliation of non-GAAP financial measurements, please see the supplemental tables at the end of Nexstar's second quarter financial results press release dated May 4, 2021
For detailed disclosure, please see Company's Annual Report on Form 10-Q for the twelve month period ended March 31, 2021
Television
Advertising
37%
11
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