Overview
AMC Networks Q3 revenue declines 6% yr/yr but beats analyst expectations
Adjusted EPS for Q3 misses analyst estimates
Adjusted operating income for Q3 beats analyst expectations
Company highlights growth in streaming revenue and strategic partnerships
Outlook
AMC Networks expects full-year free cash flow of $250 mln
Streaming revenue to become largest domestic revenue source this year
Result Drivers
STREAMING GROWTH - Streaming revenue increased 14% due to price hikes and strategic partnerships, becoming the largest domestic revenue source
AFFILIATE REVENUE DECLINE - Affiliate revenues fell 13% due to subscriber declines and lower contractual rates
CONTENT LICENSING DROP - Content licensing revenues decreased 27% due to timing and availability of deliveries
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $561.74 mln | $549 mln (6 Analysts) |
Q3 Adjusted EPS | Miss | $0.18 | $0.28 (7 Analysts) |
Q3 EPS | $1.38 | ||
Q3 Adjusted Operating Income | Beat | $94.45 mln | $66.50 mln (6 Analysts) |
Q3 EBIT | $55.52 mln | ||
Q3 Free Cash Flow | $42 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 4 "sell" or "strong sell"
The average consensus recommendation for the broadcasting peer group is "buy."
Wall Street's median 12-month price target for AMC Networks Inc is $6.00, about 20.8% below its November 6 closing price of $7.25
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 2 three months ago
Press Release: ID:nGNX96wHqw
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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