Mark Tuesday, May 4 on your calendars.
That’s when the biggest broadcast TV station owner in the U.S. releases its first-quarter 2021 results.
Nexstar Media Group confirmed that date on Wednesday, setting 9am as the time when company leaders including founder Perry Sook will review the results.
The timing couldn’t be better for the company, as its stock began 2021 with a full recovery from the COVID-19 fueled dip it saw to end Q1 2020. In fact, Nexstar celebrated St. Patrick’s Day with NXST finishing at $160.37.
Nexstar shares have cooled off slightly since then and as of 11:30am Eastern on March 31 were at $139.60. Still, that’s within the record high range NXST soared to across Q1 ’21.
What’s in store for Nexstar?
“While we continue to operate in a dynamic environment, full year 2020 free cash flow was in line with our pre-pandemic expectations and 2021 is off to a solid start,” Sook said during Nexstar’s Q4 and full-year 2020 earnings call for Wall Street analysts and investors. “As a result, we are reinstating guidance and expect to generate pro-forma average annual free cash flow of approximately $1.27 billion over the 2021/2022 cycle which supports our view that Nexstar’s path to growth, expanded returns of capital and enhanced shareholder returns remains on plan.”