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AMC Networks (AMCX) Q1 Earnings Beat Estimates, Revenues Lag
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AMC Networks Inc. (AMCX - Free Report) reported mixed financial results in the first quarter of 2017. The bottom line outpaced the Zacks Consensus Estimate while the top line fell below the mark.
Net income was $136.2 million or $1.98 per share compared with $113.4 million or $1.55 per share in the prior-year quarter. However, quarterly adjusted earnings per share of $2.10 surpassed the Zacks Consensus Estimate of $2.00.
Quarterly total revenue of $720.2 million was up 1.9% year over year lagging the Zacks Consensus Estimate of $728 million. National Networks revenues were $615.1 million, up 2.8% year over year. International and Other revenues totaled $106.8 million, down 2.1% year over year.
Quarterly total adjusted operating income (AOI) was $270.3 million, down 5.7% year over year. National Networks AOI grossed $268 million, down 6.4% while International and Other AOI totaled $1.1 million, down 78.9%.
Operating costs and expenses totaled $488.5 million compared with $447.8 million in the prior year quarter. Operating income was $231.7 million, down 10.5% year over year. Operating margin was 32.2% compared with 36.6% in the prior-year quarter.
In the first quarter of 2017, AMC Networks generated $144.9 million of cash from operations compared with $167.4 million in the year-ago quarter. Free cash flow in the reported quarter was $113 million compared with $146 million in the prior-year quarter. At the end of first-quarter 2017, the company had $403.7 million of cash and cash equivalents and $2,802.5 million of debt outstanding.
AMC Networks Inc. Price, Consensus and EPS Surprise
AMC Networks competes in the highly competitive broadcast radio and television industry. Its major competitors include CBS Corp. , Gray Television Inc. (GTN - Free Report) and Entercom Communications Corp. to name a few. AMC Networks currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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AMC Networks (AMCX) Q1 Earnings Beat Estimates, Revenues Lag
AMC Networks Inc. (AMCX - Free Report) reported mixed financial results in the first quarter of 2017. The bottom line outpaced the Zacks Consensus Estimate while the top line fell below the mark.
Net income was $136.2 million or $1.98 per share compared with $113.4 million or $1.55 per share in the prior-year quarter. However, quarterly adjusted earnings per share of $2.10 surpassed the Zacks Consensus Estimate of $2.00.
Quarterly total revenue of $720.2 million was up 1.9% year over year lagging the Zacks Consensus Estimate of $728 million. National Networks revenues were $615.1 million, up 2.8% year over year. International and Other revenues totaled $106.8 million, down 2.1% year over year.
Quarterly total adjusted operating income (AOI) was $270.3 million, down 5.7% year over year. National Networks AOI grossed $268 million, down 6.4% while International and Other AOI totaled $1.1 million, down 78.9%.
Operating costs and expenses totaled $488.5 million compared with $447.8 million in the prior year quarter. Operating income was $231.7 million, down 10.5% year over year. Operating margin was 32.2% compared with 36.6% in the prior-year quarter.
In the first quarter of 2017, AMC Networks generated $144.9 million of cash from operations compared with $167.4 million in the year-ago quarter. Free cash flow in the reported quarter was $113 million compared with $146 million in the prior-year quarter. At the end of first-quarter 2017, the company had $403.7 million of cash and cash equivalents and $2,802.5 million of debt outstanding.
AMC Networks Inc. Price, Consensus and EPS Surprise
AMC Networks Inc. Price, Consensus and EPS Surprise | AMC Networks Inc. Quote
AMC Networks competes in the highly competitive broadcast radio and television industry. Its major competitors include CBS Corp. , Gray Television Inc. (GTN - Free Report) and Entercom Communications Corp. to name a few. AMC Networks currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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