Nexstar Media Group, Inc. (NASDAQ:NXST) Q2 2024 Earnings Conference Call August 8, 2024 10:00 AM ET

Company Participants

Joseph Jaffoni - IR
Perry Sook - Founder, Chairman & CEO
Michael Biard - President & COO
Lee Ann Gliha - CFO

Conference Call Participants

Benjamin Soff - Deutsche Bank
Daniel Kurnos - Benchmark
Jason Bazinet - Citi
Craig Huber - Huber Research Partners
Steven Cahall - Wells Fargo
James Goss - Barrington Research

Operator

Good day, and welcome to Nexstar Media Group's Second Quarter 2024 Conference Call. Today's call is being recorded.

I will now turn the conference over to Joe Jaffoni, Investor Relations. Please go ahead, sir.

Joseph Jaffoni

Thank you, Paul, and good morning, everyone. I'll first review the safe harbor language and then we'll get right into the call.

All statements and comments made by management during today's conference call, other than statements of historical fact may be deemed forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Nexstar cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those reflected by the forward-looking statements made during today's call.

For additional details on these risks and uncertainties, please see Nexstar's annual report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission and next to our subsequent public filings with the SEC. Nexstar undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

It's now my pleasure to turn the conference call over to your host, Nexstar’s Founder, Chairman and CEO, Perry Sook. Perry, please go ahead.

Perry Sook

Thank you, Joseph, and good morning, everyone. Thank you for joining us today. With me on our call today are Mike Biard, our President and Chief Operating Officer; and Lee Ann Gliha, our Chief Financial Officer.

I will start with a summary of the recent highlights followed by Mike's operations review and then Lee Ann will review our financials.

Nexstar's strong second quarter financial results mark another quarter of record total net revenue and our third consecutive quarter of all-time high quarterly distribution revenue. We translated this revenue growth into another quarter of solid adjusted EBITDA and adjusted free cash flow growth, reflecting our disciplined operating strategies. Just stop and think about that for a minute.