Equity Profile

NXST

Nexstar Media Group, Inc.

Communication ServicesBroadcasting$5.4B

Aug6Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Nexstar Media Group, Inc. (NXST) operates in the communication services sector, primarily focusing on broadcasting....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help gauge the company's financial health this quarter.

N/A

Revenue Growth

Understanding revenue trends will provide insight into the company's ability to attract and retain viewers and advertisers.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NXST Q2-2026 Earnings Preview

Context

Company Snapshot

Nexstar Media Group, Inc. (NXST) operates in the communication services sector, primarily focusing on broadcasting. As a major player in local television, it plays a crucial role in delivering news and entertainment to audiences across the United States, which is particularly relevant as consumer media consumption continues to evolve.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-34.49%

Avg Stock Reaction

+1.76%

Last Quarter Recap

In Q1-2026, Nexstar reported an EPS of $5.09, exceeding expectations by 6.49%. However, the stock experienced a slight decline of 1.36% the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Nexstar's upcoming earnings, especially after a positive surprise last quarter. However, concerns about advertising revenue and market competition remain prevalent.

Bull Case

If Nexstar can demonstrate strong advertising revenue growth and maintain or exceed its EPS from the last quarter, it could signal a robust recovery and attract more investors.

Bear Case

Conversely, if the company reports disappointing advertising figures or lower-than-expected EPS, it could lead to a significant sell-off, especially given the competitive pressures in the broadcasting industry.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the advertising revenue growth rate for Q2-2026?

This figure will be crucial in determining how well Nexstar is navigating the competitive broadcasting landscape and attracting advertisers.

How does Nexstar plan to address any challenges in viewer engagement?

With changing consumer habits, understanding management's strategy to retain and grow its audience will be key for future revenue.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Nexstar's ability to adapt to changing advertising dynamics, especially given recent trends in local broadcasting.

Supporting Evidence

The recent EPS surprise indicates that Nexstar has the potential to outperform expectations despite industry challenges.

Options pricing suggests higher volatility, indicating that traders may expect significant movement based on the earnings report.

Key Risk

If Nexstar's advertising revenue shows unexpected growth, it could significantly alter the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on how well Nexstar can adapt to market pressures and maintain its advertising revenue.

Bull Confirmed If

Advertising revenue growth of at least 10% year-over-year would confirm a strong recovery and positive market sentiment.

Bear Confirmed If

If advertising revenue declines or remains flat compared to the previous quarter, it would indicate ongoing challenges in the industry.

Pre-Earnings Positioning

Options Market

Implied Move

±5.27%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a potential move of around 5.3%, suggesting that traders expect some volatility following the earnings report.

Options are pricing ±5.3% while NXST has averaged ±4.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

29.5%

Calls (100)P/C Ratio: 20.00Puts (1K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Nexstar beats expectations and raises guidance, history suggests a potential average one-day move of +0.91%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but management's commentary is cautious, the stock may experience muted movement as investors reassess their outlook.

Miss

A miss on earnings could lead to a decline, with historical patterns suggesting an average one-day move of +2.28% when they miss, indicating potential investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on advertising revenue trends and how they compare to previous quarters.
2Management's commentary on viewer engagement strategies and their effectiveness.
3Insights into cost management and operational efficiency improvements.
4Any new initiatives or partnerships aimed at enhancing content delivery.
5Guidance on future revenue expectations and potential market challenges.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Nexstar Media Group, Inc. (NXST) operates in the communication services sector, primarily focusing on broadcasting....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will help gauge the company's financial health this quarter.

N/A

Revenue Growth

Understanding revenue trends will provide insight into the company's ability to attract and retain viewers and advertisers.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NXST Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-34.49%

Avg Stock Reaction

+1.76%

Last Quarter Recap

In Q1-2026, Nexstar reported an EPS of $5.09, exceeding expectations by 6.49%. However, the stock experienced a slight decline of 1.36% the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Nexstar can demonstrate strong advertising revenue growth and maintain or exceed its EPS from the last quarter, it could signal a robust recovery and attract more investors.

Bear Case

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the advertising revenue growth rate for Q2-2026?

This figure will be crucial in determining how well Nexstar is navigating the competitive broadcasting landscape and attracting advertisers.

How does Nexstar plan to address any challenges in viewer engagement?

With changing consumer habits, understanding management's strategy to retain and grow its audience will be key for future revenue.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Nexstar's ability to adapt to changing advertising dynamics, especially given recent trends in local broadcasting.

Supporting Evidence

The recent EPS surprise indicates that Nexstar has the potential to outperform expectations despite industry challenges.

Options pricing suggests higher volatility, indicating that traders may expect significant movement based on the earnings report.

Key Risk

If Nexstar's advertising revenue shows unexpected growth, it could significantly alter the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on how well Nexstar can adapt to market pressures and maintain its advertising revenue.

Bull Confirmed If

Advertising revenue growth of at least 10% year-over-year would confirm a strong recovery and positive market sentiment.

Bear Confirmed If

If advertising revenue declines or remains flat compared to the previous quarter, it would indicate ongoing challenges in the industry.

Pre-Earnings Positioning

Options Market

Implied Move

±5.27%

Historical Avg

±4.5%

Pricing rich

The options market is pricing in a potential move of around 5.3%, suggesting that traders expect some volatility following the earnings report.

Options are pricing ±5.3% while NXST has averaged ±4.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

29.5%

Calls (100)P/C Ratio: 20.00Puts (1K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Nexstar beats expectations and raises guidance, history suggests a potential average one-day move of +0.91%, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but management's commentary is cautious, the stock may experience muted movement as investors reassess their outlook.

Miss

A miss on earnings could lead to a decline, with historical patterns suggesting an average one-day move of +2.28% when they miss, indicating potential investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on advertising revenue trends and how they compare to previous quarters.
2Management's commentary on viewer engagement strategies and their effectiveness.
3Insights into cost management and operational efficiency improvements.
4Any new initiatives or partnerships aimed at enhancing content delivery.
5Guidance on future revenue expectations and potential market challenges.