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AMC Networks Inc. (AMCX) - $25 value - yours FREE >>
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AMC Networks (AMCX) Misses Q2 Earnings, Beats Revenues
AMC Networks Inc. (AMCX - Free Report) reported mixed financial results in the second quarter of 2016. While revenues outpaced the Zacks Consensus Estimate, net earnings missed the same.
GAAP net income was $77.2 million or $1.05 per share compared with $83 million or $1.14 per share in the year-ago quarter. Second-quarter adjusted earnings per share of $1.14 were well short of the Zacks Consensus Estimate of $1.33.
Quarterly total revenue of $684.8 million was up 13.9% year over year and ahead of the Zacks Consensus Estimate of $678 million. National Networks revenues were $572.6 million, up 17.2% year over year. International and Other revenues were $118.3 million, up 4.8% year over year.
Quarterly total adjusted operating cash flow (ACOF) was $211.3 million, up 10.4% year over year. National Networks AOCF was $206.3 million, up 13% and International and Other AOCF was $8.2 million, down 4.7%.
Second-quarter operating costs and expenses totaled $506.8 million, up 14.6% year over year. Operating income was $178 million, up 12.1% year over year. Operating margin was 26% compared with 26.4% in the prior-year quarter.
In the first half of 2016, AMC Networks generated $229.6 million of cash from operations compared with $190.2 million in the year-ago period. Free cash flow in the reported period was $196.4 million compared with $154 million in the year-ago period. At the end of the second quarter of 2016, AMC Networks had $643.5 million of cash and cash equivalents and $2,334.1 million of net debt outstanding.
AMC NETWORKS- A Price, Consensus and EPS Surprise
AMC NETWORKS- A Price, Consensus and EPS Surprise | AMC NETWORKS- A Quote
Zacks Rank & Stocks to Consider
AMC Networks currently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the industry include CBS Corp. , Liberty Broadband Corp. (LBRDA - Free Report) and Liberty LiLAC Group (LILA - Free Report) . All three stocks currently carry a Zacks Rank #2 (Buy).
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