Television broadcasting and production company AMC Networks (NASDAQ:AMCX) will be reporting earnings tomorrow before market hours. Here’s what to expect.
AMC Networks beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $599.6 million, down 5.9% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA 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 9.7% year on year to $613.1 million, improving from the 29.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.05 per share.
Analysts covering the company have generally 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 three times over the last two years.
Looking at AMC Networks’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. FOX delivered year-on-year revenue growth of 19.9%, beating analysts’ expectations by 5%, and VF Corp reported revenues up 1.9%, topping estimates by 1.2%. FOX traded up 5% following the results while VF Corp was also up 1.4%.
Read our full analysis of FOX’s results here and VF Corp’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. AMC Networks is up 10.3% during the same time and is heading into earnings with an average analyst price target of $10.29 (compared to the current share price of $9.84).
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