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The Fund is an actively managed exchange-traded fund (ETF) that employs an investment approach that utilizes a quantitative factor-based investment methodology focused on U.S. equities. The Adviser selects stocks based on a number of characteristics that include, but are not limited to, net share count reduction, free cash flow growth, dividend yield, volatility and debt/asset ratios. The final selection of stocks is based on market characteristics including, but not limited to, liquidity and market capitalization.

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Nexstar Media Group Inc (NASDAQ: NXST) reported a record third-quarter net revenue of $1.366 billion, fueled by strong advertising and distribution revenues. Adjusted EBITDA jumped 82.8% and share repurchases were made. 

Nexstar Media Q3: Political Ads, Distribution Gains Drive 21% Revenue Growth

Nexstar Media Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXST#NASDAQ">NXST</a>) shares are trading higher. The company reported a third-quarter fiscal year 2024 net revenue increase of 20.7% year over year to $1.366 billion. That&#8217;s <a href="https://www.benzinga.com/pressreleases/24/11/b41802369/nexstar-media-group-reports-record-third-quarter-net-revenue-of-1-37-billion" target="_blank" rel="noreferrer noopener">in line with the consensus</a>.



<ul>
<li>Revenues from Advertising rose&nbsp;22.2% to&nbsp;$622 million. The growth was led by a $135 million year-over-year rise in election-year political advertising.</li>



<li>Distribution revenue gained&nbsp;20.2% to&nbsp;$719&nbsp;million. This growth was driven by the resolution of a 2023 MVPD dispute, favorable contract renewals, annual rate increases, higher vMVPD subscribers, new CW affiliations, and the return of partner stations.</li>



<li>Adjusted EBITDA jumped&nbsp;82.8% Y/Y to&nbsp;$510 million, and the margin expanded to&nbsp;37.3% from&nbsp;24.6% a year ago.</li>



<li>EPS was&nbsp;$5.27, up from&nbsp;$0.70 in the prior year quarter but&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">below the consensus of&nbsp;$5.40.</a></li>



<li>Adjusted free cash flow totaled&nbsp;$327 million, up from&nbsp;$81 million in the prior year quarter. As of September 30, 2024, unrestricted cash stood at&nbsp;$181 million.</li>
</ul>



Buyback: The company repurchased shares worth $178&nbsp;million in the quarter. The company announced a new $1.5 billion share repurchase authorization in July 2024.



Nexstar CEO Perry A. Sook said, &#8221;During the quarter, we made further progress on our strategy for The CW, reducing operating losses by $36 million year-over-year and by $119 million year-to-date.&#8221;



&#8221;We debuted NASCAR Xfinity Series racing in September and WWE NXT wrestling in October on The CW broadcast network to double-digit percentage increases both in total audience and in adults 18-49 versus previous viewership on cable.&#8221;



Investors can gain exposure to the stock via&nbsp;LeaderShares AlphaFactor Tactical Focused ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSAT#NYSE">LSAT</a>) and Northern Lights Fund Trust IV Monarch Dividend Plus Index ETF (MDPL).



Price Action: Nexstar shares are up 2.92% at $188.60 at the last check Thursday.



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Latest LeaderShares AlphaFactor Tactical Focused ETF News | ARCA:LSAT | Benzinga

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