Income Per Share

9 Months Ended

Sep. 30, 2025

Note 13: Income Per Share

Income per share (basic and diluted) available to common stockholders is presented below ($ in millions, except per share amounts, and shares in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Net income attributable to Nexstar Media Group, Inc.	$	70		$	187		$	275		$	480
Accretion of redeemable noncontrolling interests		(4	)		(16	)		(12	)		(16	)
Net income available to common stockholders	$	66		$	171		$	263		$	464

Weighted average shares outstanding – basic		30,319			32,020			30,357			32,759
Dilutive effect of equity incentive plan instruments		330			421			339			489
Weighted average shares outstanding – diluted		30,649			32,441			30,696			33,248

Net income per share available to common stockholders – basic	$	2.16		$	5.34		$	8.66		$	14.17
Net income per share available to common stockholders – diluted	$	2.14		$	5.27		$	8.57		$	13.96

During the three and nine months ended September 30, 2025, weighted average restricted stock units of zero and 50,000, respectively, were excluded from the calculation of diluted income per share because their effect would have been anti-dilutive.

During the three and nine months ended September 30, 2024, weighted average restricted stock units of zero and 26,000, respectively, were excluded from the calculation of diluted income per share because their effect would have been anti-dilutive.