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.
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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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.
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).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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