Investors in AMC Networks Inc. (AMCX) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 20, 2024 $5 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also me ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2024 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 1-35106 | --- | --- | --- | |---------------------------------------------------------------------------------------|-------------------------- ...

AMC Networks Inc. (NASDAQ:AMCX) Q2 2024 Earnings Conference Call August 9, 2024 8:30 AM ET Company Participants Nicholas Seibert - Vice President of Corporate Development & Investor Relations Kristin Dolan - Chief Executive Officer Patrick O’Connell - Chief Financial Officer Dan McDermott - President of Entertainment and AMC Studios Kimberly Kelleher - Chief Commercial Officer Conference Call Participants Thomas Yeh - Morgan Stanley David Joyce - Seaport Research Partners Steven Cahall - Wells Fargo Operato ...

For the quarter ended June 2024, AMC Networks (AMCX) reported revenue of $625.93 million, down 7.8% over the same period last year. EPS came in at $1.24, compared to $2.02 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $601.26 million, representing a surprise of +4.10%. The company delivered an EPS surprise of -10.14%, with the consensus EPS estimate being $1.38.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

Core Viewpoint - AMC Networks reported quarterly earnings of $1.24 per share, missing the Zacks Consensus Estimate of $1.38 per share, and down from $2.02 per share a year ago, indicating a significant decline in profitability [1] - The company’s revenues for the quarter were $625.93 million, surpassing the Zacks Consensus Estimate by 4.10%, but down from $678.63 million year-over-year [1] Financial Performance - The earnings surprise for the latest quarter was -10.14%, and the company had a prior quarter surprise of -35.20% [1] - Over the last four quarters, AMC Networks has exceeded consensus EPS estimates two times [1] - The current consensus EPS estimate for the upcoming quarter is $1.54, with expected revenues of $594.73 million, and for the current fiscal year, the estimate is $4.93 on $2.41 billion in revenues [4] Stock Performance - AMC Networks shares have declined approximately 45.2% since the beginning of the year, contrasting with the S&P 500's gain of 11.5% [2] - The stock currently holds a Zacks Rank of 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Outlook - The Broadcast Radio and Television industry, to which AMC Networks belongs, is currently ranked in the bottom 30% of over 250 Zacks industries, suggesting a challenging environment for stock performance [5] - Historical data indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [5]

Financial Performance - Net revenues for Q2 2024 were $626 million, a decrease of 8% from the prior year, with adjusted net revenues down 4% after excluding certain prior year revenues[3] - Revenues for Q2 2024 were $625.9 million, a decrease of 7.8% from $678.6 million in Q2 2023[32] - Domestic Operations revenues decreased 7% to $538 million, with subscription revenues down 3% to $323 million[9] - International revenues decreased 9% to $90 million, with subscription revenues down 13% to $50 million[12] - Operating income for Q2 2024 was $10.8 million, down 89.8% from $105.7 million in Q2 2023[32] - Net loss attributable to AMC Networks' stockholders for Q2 2024 was $29.2 million, compared to a net income of $70.2 million in Q2 2023[32] - Adjusted Operating Income (Loss) for Q2 2024 was $152.8 million, compared to $176.8 million in Q2 2023, reflecting a decrease of 13.6%[36] - Consolidated adjusted operating income for the six months ended June 30, 2023, was $392,540, with domestic operations contributing $404,194 and international operations at $40,323[39] - Adjusted earnings per share (EPS) for the three months ended June 30, 2024, was $1.24, while the diluted EPS attributable to AMC Networks' stockholders was $(0.66)[49] Cash Flow and Debt - Free Cash Flow for Q2 2024 was $95 million, down 35.5% from $148 million in Q2 2023[3] - Free cash flow for the three months ended June 30, 2024, was $95,165, compared to $147,614 for the same period in 2023[45] - Total debt as of June 30, 2024, amounted to $2,420,635, with net debt standing at $1,618,082[42] - The leverage ratio reported was 2.8x, indicating the company's debt levels relative to its earnings[41] Impairment and Charges - The company reported an impairment charge of $68 million related to goodwill at AMCNI and $29 million for long-lived assets at BBCA[16] - The company reported impairment and other charges of $96.8 million in Q2 2024, significantly higher than $24.9 million in Q2 2023[32] - Operating income (GAAP) for the three months ended June 30, 2024, was $230,373, with significant impairment charges of $168,626 impacting overall profitability[42] - The company incurred restructuring and other related charges of $18,744 for the three months ended June 30, 2024[42] - Total adjustments included amortization of acquisition-related intangible assets amounting to $20,887,000[54] - Restructuring and other related charges totaled $11,974,000[54] - Impairment and other charges were reported at $24,882,000[54] Strategic Initiatives - The company announced a new licensing partnership with Sky for The Walking Dead Universe in the UK[2] - AMC Networks launched AMC Reality on ITVX, expanding its presence in the UK market[2] - The company plans to continue focusing on its streaming services and original content production to drive future growth[28] Market Conditions and Risks - Forward-looking statements indicate potential risks and uncertainties that may affect future performance, including market conditions and operational challenges[26] Shareholder Information - As of June 30, 2024, the company had $135 million remaining under its $1.5 billion stock repurchase program[18] - The weighted average common shares for diluted earnings per share were 44.5 million in Q2 2024, compared to 43.9 million in Q2 2023[32] - The company reported share-based compensation expenses of $26,904 for the three months ended June 30, 2024[42]

Core Insights - AMC Networks (AMCX) is expected to report quarterly earnings of $1.38 per share, reflecting a year-over-year decline of 31.7% [1] - Anticipated revenues are projected to be $601.26 million, showing an 11.4% decrease compared to the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating analysts have reevaluated their initial estimates [1] Revenue Estimates - Domestic Operations revenues are forecasted to reach $529.58 million, indicating a year-over-year decline of 9% [2] - Revenues from International and Other operations are expected to be $74.18 million, reflecting a significant decrease of 25.3% from the previous year [2] Operating Income Estimates - The consensus estimate for Adjusted Operating Income from Domestic Operations is $153.52 million, down from $184.81 million reported in the same quarter last year [2] - Adjusted Operating Income for International and Other operations is predicted to be $18.64 million, slightly lower than the year-ago value of $19.19 million [3] Stock Performance - Over the past month, shares of AMC Networks have increased by 4.7%, contrasting with a decline of 5.9% in the Zacks S&P 500 composite [3] - AMC Networks currently holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [3]

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:AMC Networks Inc. (AMCX) is an entertainment company. The Zacks Consensus Estimate for its current year earnings has been revised 20.9% downward over the last 60 days.Cogent Communications Holdings, Inc. (CCOI) is a telecommunications company. The Zacks Consensus Estimate for its current year earnings has been revised 21.5% downward over the last 60 days.Haynes International, Inc. (HAYN) is a metals company. The Zacks Consensus Estima ...

NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. (NASDAQ:AMCX) (the "Company" or "AMC Networks") today announced the pricing of $125 million aggregate principal amount of 4.25% convertible senior notes due 2029 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In connection with the offering of the notes, the Company has granted the initial purchasers an option to p ...

Group 1 - AMC Networks announced a private offering of convertible senior notes due 2029, aiming to raise $125 million [1] - The offering will be exclusively available to institutional investors, with an additional 13-day option to acquire $18.75 million more [1] - The funds raised will be used for general corporate purposes, potentially including debt repayment [1] Group 2 - As of Monday morning, AMC Networks' stock (AMCX) is down 10.9%, with a year-to-date decline of 18.1% [2] - Trading volume for AMCX stock is significantly below average, with only about 10,000 shares changing hands compared to a daily average of 634,000 shares [2]