Financial News
AMC Networks (AMCX) Reports Earnings Tomorrow: What To Expect
Television broadcasting and production company AMC Networks (NASDAQ:AMCX) will be reporting earnings tomorrow before the bell. Here’s what to expect.
AMC Networks beat analysts’ revenue expectations by 4.1% last quarter, reporting revenues of $625.9 million, down 7.8% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ operating margin estimates but a miss of analysts’ earnings estimates.
Is AMC Networks a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting AMC Networks’s revenue to decline 7.8% year on year to $587.1 million, a further deceleration from the 6.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.64 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AMC Networks has missed Wall Street’s revenue estimates four times over the last two years.
Looking at AMC Networks’s peers in the broadcasting segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FOX delivered year-on-year revenue growth of 11.1%, beating analysts’ expectations by 5.7%, and E.W. Scripps reported revenues up 14.1%, topping estimates by 2.7%. FOX traded up 4.1% following the results while E.W. Scripps was down 35.1%.
Read our full analysis of FOX’s results here and E.W. Scripps’s results here.
There has been positive sentiment among investors in the broadcasting segment, with share prices up 6% on average over the last month. AMC Networks’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $10.57 (compared to the current share price of $7.99).
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