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AMC Networks (AMCX) Misses Earnings and Revenues in Q3
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AMC Networks Inc. (AMCX - Free Report) reported weak financial results in the third quarter of 2016 wherein both the top and the bottom line lagged the Zacks Consensus Estimate.
Third-quarter 2016 net income was $65 million or 91 cents per diluted share compared with $73 million or 99 cents, respectively, in the third quarter of 2015. Third-quarter adjusted earnings per share of $1.01 fell short of the Zacks Consensus Estimate of $1.04.
Quarterly total revenue of $634.6 million was up 0.4% year over year but lagged the Zacks Consensus Estimate of $661 million. National Networks revenues were $525.7 million, up 0.8% year over year. International and Other revenues totaled $114.02 million, down 0.1% year over year.
Quarterly total adjusted operating cash flow (ACOF) was $168.11 million, down 11.8% year over year. National Networks AOCF revenues grossed $162.5 million, down 12.9% and International and Other AOCF revenues totaled $10.9 million, up 62.3%.
Third-quarter operating costs and expenses totaled $517.5 million, compared to $472.9 million in the prior year quarter. Operating income was $117 million, down 26.5% year over year. Operating margin was 22.6% compared with 33.6% in the prior-year quarter.
In the third quarter of 2016, AMC Networks generated $427 million of cash from operations in the nine months ended Sep 30, 2016, reflecting an increase of $126 million from the prior-year period. Free cash flow in the nine-month period was $373 million, highlighting an increase of $124 million from the prior-year period. At the end of the third quarter of 2016, AMC Networks had $682.76 million of cash and cash equivalents and $2,212.2 million of net debt outstanding.
AMC Networks currently has a Zacks Rank #4 (Sell).
Meanwhile, here are some companies that have the right combination of elements to post an earnings beat this quarter.
International Business Machines Corporation (IBM - Free Report) , with an earnings ESP of +0.20% and a Zacks Rank #3.The company’s earnings surpassed the Zacks Consensus Estimate in all of the previous four quarters.
Microsoft Corporation (MSFT - Free Report) , with an Earnings ESP of +1.30% and a Zacks Rank #3.The company’s earnings surpassed the Zacks Consensus Estimate in three of the previous four quarters.
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AMC Networks (AMCX) Misses Earnings and Revenues in Q3
AMC Networks Inc. (AMCX - Free Report) reported weak financial results in the third quarter of 2016 wherein both the top and the bottom line lagged the Zacks Consensus Estimate.
Third-quarter 2016 net income was $65 million or 91 cents per diluted share compared with $73 million or 99 cents, respectively, in the third quarter of 2015. Third-quarter adjusted earnings per share of $1.01 fell short of the Zacks Consensus Estimate of $1.04.
Quarterly total revenue of $634.6 million was up 0.4% year over year but lagged the Zacks Consensus Estimate of $661 million. National Networks revenues were $525.7 million, up 0.8% year over year. International and Other revenues totaled $114.02 million, down 0.1% year over year.
Quarterly total adjusted operating cash flow (ACOF) was $168.11 million, down 11.8% year over year. National Networks AOCF revenues grossed $162.5 million, down 12.9% and International and Other AOCF revenues totaled $10.9 million, up 62.3%.
Third-quarter operating costs and expenses totaled $517.5 million, compared to $472.9 million in the prior year quarter. Operating income was $117 million, down 26.5% year over year. Operating margin was 22.6% compared with 33.6% in the prior-year quarter.
In the third quarter of 2016, AMC Networks generated $427 million of cash from operations in the nine months ended Sep 30, 2016, reflecting an increase of $126 million from the prior-year period. Free cash flow in the nine-month period was $373 million, highlighting an increase of $124 million from the prior-year period. At the end of the third quarter of 2016, AMC Networks had $682.76 million of cash and cash equivalents and $2,212.2 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 and Key Picks
AMC Networks currently has a Zacks Rank #4 (Sell).
Meanwhile, here are some companies that have the right combination of elements to post an earnings beat this quarter.
International Business Machines Corporation (IBM - Free Report) , with an earnings ESP of +0.20% and a Zacks Rank #3.The company’s earnings surpassed the Zacks Consensus Estimate in all of the previous four quarters.
Verizon Communications Inc. (VZ - Free Report) , with an Earnings ESP of +1.11% and a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The company’s earnings beat the Zacks Consensus Estimate in three of the previous four quarters.
Microsoft Corporation (MSFT - Free Report) , with an Earnings ESP of +1.30% and a Zacks Rank #3.The company’s earnings surpassed the Zacks Consensus Estimate in three of the previous four quarters.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>