AMC Networks (AMCX) Reports Q1: Everything You Need To Know Ahead Of Earnings

Jabin Bastian /
2024/05/09 3:01 am EDT

Television broadcasting and production company AMC Networks (NASDAQ:AMCX) will be announcing earnings before the bell. Here's what you need to know.

AMC Networks met analysts' revenue expectations last quarter, reporting revenues of $678.8 million, down 29.6% year on year. It was a weak quarter for the company, with 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 16.2% year on year to $601.1 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.65 per share.

AMC Networks Total Revenue

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 five times over the last two years.

Looking at AMC Networks's peers in the broadcasting segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Paramount delivered year-on-year revenue growth of 5.8%, meeting analysts' expectations, and Gray Television reported revenues up 2.7%, in line with consensus estimates. Paramount traded down 7.2% following the results while Gray Television was up 1.2%.

Read our full analysis of Paramount's results here and Gray Television's results here.

Investors in the broadcasting segment have had steady hands going into earnings, with share prices flat over the last month. AMC Networks is up 22.5% during the same time and is heading into earnings with an average analyst price target of $12.8 (compared to the current share price of $13.29).

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