Nexstar Media

Q2 FY2026 EarningsQ2 FY26 results slightly beat revenue expectations ($1.99B vs. $1.98B mean) but missed significantly on GAAP EPS ($3.61 vs. $5.69 mean) and operating metrics. The quarter was defined by the first full contribution from the TEGNA merger, which added $697M in revenue but also $503M in operating expenses and substantial transaction/litigation costs. While political advertising surged to $147M, core non-political advertising remains soft, and heavy integration-related interest expense (+95.9% YoY) continues to weigh on the bottom line.