AMC Networks (AMCX) Beats on Earnings and Revenues in Q4
AMC Networks Inc. AMCX reported impressive financial results in the fourth quarter of 2016 wherein both the top line and bottom line outpaced the Zacks Consensus Estimate.
Fourth-quarter 2016 net income was $14.5 million or 20 cents per share compared with $90.1 million or $1.23 per share in the third quarter of 2015. However, quarterly adjusted earnings per share of $1.30 surpassed the Zacks Consensus Estimate of $1.26.
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Quarterly total revenue of $729.6 million was up 7.5% year over year beating the Zacks Consensus Estimate of $717.2 million. National Networks revenues were $614.1 million, up 9.2% year over year. International and Other revenues totaled $118.7 million, down 0.5% year over year.
Quarterly total adjusted operating income (AOI) was $212.7 million, up 7.9% year over year. National Networks AOI grossed $205.7 million, up 9.2% and International and Other AOI totaled $4.5 million, down 48.5%.
Fourth-quarter operating costs and expenses totaled $625.9 million compared with $518.6 million in the prior-year quarter. Operating income was $103.7 million, down 35.3% year over year. Operating margin was 14.2% compared with 23.6% in the prior-year quarter.
In 2016, AMC Networks generated $514.3 million of cash from operations compared with $370 million in 2015. Free cash flow in 2016 was $426.1 million compared with $298.6 million in 2015. At the end of 2016, AMC Networks had $481.4 million of cash and cash equivalents, and $2,376.6 million of net debt outstanding.
AMC Networks competes in the highly competitive broadcast radio and television industry. Its major competitors include CBS Corp. CBS, Gray Television Inc. GTN and Entercom Communications Corp. ETM 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.
AMC Networks Inc. Price, Consensus and EPS Surprise
AMC Networks Inc. Price, Consensus and EPS Surprise | AMC Networks Inc. Quote
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