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What's in Store for Nexstar Media Group (NXST) in Q2 Earnings?
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Nexstar Media Group (NXST - Free Report) is set to report second-quarter 2023 results on Aug 8.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $1.25 billion, indicating a marginal increase of 0.29% from the year-ago quarter's reported figure.
The consensus estimate for second-quarter earnings has been unchanged at $2.88 per share over the past 30 days, indicating a decline of 48.2% from the year-ago quarter's reported number.
Notably, the company’s earnings beat the consensus mark in the trailing four quarters, the average surprise being 21.38%.
Nexstar Media Group’s second-quarter results are expected to reflect increases in viewership on its channels, boosted by the acquisition of CW and a strong slate of original content. CW’s Network Affiliation agreements renewals are likely to have a big impact on the top line in the to-be-reported quarter.
In the first-quarter, results were driven by the benefits of the CW acquisition and record quarterly distribution revenues, partially offset by a decline in television advertising, which was primarily due to the absence of midterm political and Olympic advertising. This trend is expected to have continued in the to-be-reported quarter.
The company’s strong position in the domestic market and higher political advertising revenues are key catalysts.
NXST has been benefiting from strong advertising rebound across station footprint, most notably in sports programming besides auto, which is the company’s largest category. This is likely to have helped maintain its growth trajectory for the third consecutive quarter, increasing 12% over Q1. It is expected to continue this trend in the upcoming quarters.
The resumption in auto category spending has been complemented by a resurgence in ad spending in gaming, sports betting, radio, TV, cable, newspaper, medical, healthcare, insurance and telecom.
However increasing costs and expenses are expected to have weighed on the bottom-line growth in the to-be-reported quarter. The company projects recurring cash and corporate overheads, exclusive of stock compensation and transaction costs, to be nearly $35 million for second-quarter 2023. Non-cash compensation is expected to be approximately $16 million.
What Our Model Indicates
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Nexstar has an Earnings ESP of 0.00% and flaunts a Zacks Rank of 1 at present. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks, which according to our model, have the right combination of elements to beat on earnings this season.
Nvidia is scheduled to release second-quarter 2023 results on Aug 23. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $2.06 per share, suggesting a jump from the prior-year quarter’s reported figure of 51 cents per share.
CACI International (CACI - Free Report) has an Earnings ESP of +2.36% and a Zacks Rank of 2 at present.
CACI is set to report its fourth-quarter fiscal 2023 results on Aug 9. The Zacks Consensus Estimate for CACI’s earnings is pegged at $4.85 per share, suggesting growth of 6.83% from the prior-year quarter’s reported figure.
Docebo (DCBO - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank of 3 at present.
Docebo is set to report its second-quarter fiscal 2023 results on Aug 10. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 8 cents per share. The company reported a loss of 5 cents per share in the year-ago quarter.
Image: Bigstock
What's in Store for Nexstar Media Group (NXST) in Q2 Earnings?
Nexstar Media Group (NXST - Free Report) is set to report second-quarter 2023 results on Aug 8.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $1.25 billion, indicating a marginal increase of 0.29% from the year-ago quarter's reported figure.
The consensus estimate for second-quarter earnings has been unchanged at $2.88 per share over the past 30 days, indicating a decline of 48.2% from the year-ago quarter's reported number.
Notably, the company’s earnings beat the consensus mark in the trailing four quarters, the average surprise being 21.38%.
Nexstar Media Group, Inc Price and EPS Surprise
Nexstar Media Group, Inc price-eps-surprise | Nexstar Media Group, Inc Quote
Factors to Note
Nexstar Media Group’s second-quarter results are expected to reflect increases in viewership on its channels, boosted by the acquisition of CW and a strong slate of original content. CW’s Network Affiliation agreements renewals are likely to have a big impact on the top line in the to-be-reported quarter.
In the first-quarter, results were driven by the benefits of the CW acquisition and record quarterly distribution revenues, partially offset by a decline in television advertising, which was primarily due to the absence of midterm political and Olympic advertising. This trend is expected to have continued in the to-be-reported quarter.
The company’s strong position in the domestic market and higher political advertising revenues are key catalysts.
NXST has been benefiting from strong advertising rebound across station footprint, most notably in sports programming besides auto, which is the company’s largest category. This is likely to have helped maintain its growth trajectory for the third consecutive quarter, increasing 12% over Q1. It is expected to continue this trend in the upcoming quarters.
The resumption in auto category spending has been complemented by a resurgence in ad spending in gaming, sports betting, radio, TV, cable, newspaper, medical, healthcare, insurance and telecom.
However increasing costs and expenses are expected to have weighed on the bottom-line growth in the to-be-reported quarter. The company projects recurring cash and corporate overheads, exclusive of stock compensation and transaction costs, to be nearly $35 million for second-quarter 2023. Non-cash compensation is expected to be approximately $16 million.
What Our Model Indicates
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Nexstar has an Earnings ESP of 0.00% and flaunts a Zacks Rank of 1 at present. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks, which according to our model, have the right combination of elements to beat on earnings this season.
NVIDIA (NVDA - Free Report) has an Earnings ESP of +5.56% and sports a Zacks Rank of of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Nvidia is scheduled to release second-quarter 2023 results on Aug 23. The Zacks Consensus Estimate for NVDA’s earnings is pegged at $2.06 per share, suggesting a jump from the prior-year quarter’s reported figure of 51 cents per share.
CACI International (CACI - Free Report) has an Earnings ESP of +2.36% and a Zacks Rank of 2 at present.
CACI is set to report its fourth-quarter fiscal 2023 results on Aug 9. The Zacks Consensus Estimate for CACI’s earnings is pegged at $4.85 per share, suggesting growth of 6.83% from the prior-year quarter’s reported figure.
Docebo (DCBO - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank of 3 at present.
Docebo is set to report its second-quarter fiscal 2023 results on Aug 10. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 8 cents per share. The company reported a loss of 5 cents per share in the year-ago quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.