AMC Networks Inc. (AMCX) Earnings
AMC Networks Inc. is expected to report next earnings on August 14, 2026 (in NaN days), with a consensus EPS estimate of $-0.05. AMCX has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -12.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $0.22 | $0.08 | -63.6% | $542M | +0.3% |
| Feb 11, 2026 | $0.50 | $0.64 | +28.0% | $595M | +8.0% |
| Nov 7, 2025 | $0.31 | $0.18 | -41.9% | $562M | -3.5% |
| Aug 8, 2025 | $0.54 | $0.69 | +27.8% | $600M | +9.4% |
| May 9, 2025 | $0.73 | $0.52 | -28.8% | $555M | -5.4% |
| Feb 14, 2025 | $0.79 | $0.64 | -19.0% | $599M | -2.0% |
| Nov 8, 2024 | $0.86 | $0.91 | +5.8% | $600M | +2.0% |
| Aug 9, 2024 | $1.38 | $1.24 | -10.1% | $626M | +4.1% |
| May 10, 2024 | $1.67 | $1.16 | -30.5% | $596M | -1.0% |
| Feb 9, 2024 | $0.64 | $0.72 | +12.5% | $679M | +0.4% |
| Nov 3, 2023 | $1.28 | $1.85 | +44.5% | $637M | -3.2% |
| Aug 4, 2023 | $1.60 | $2.02 | +26.2% | $679M | -3.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 8, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Busy start to the year with first quarter double-digit streaming revenue growth and robust free cash flow generation. - Notable improvement in first quarter advertising revenue trends. - Entered into a new long-term affiliation agreement with DISH and Sling TV. - Streaming business is the world's largest collection of targeted services. - Changed company name to better reflect the business. - Tracked to plan across all key metrics and reiterated 2026 financial outlook. - Greenlit new original series for AMC and AMC+, renewed sports docuseries, announced partnership with Meta, and Acorn TV's Murder Mystery May. - Launched new drama, had film releases, and had return of important franchises. - Search for new CFO is progressing
Guidance
- 2026 outlook contemplates consolidated revenue of approximately $2.25 billion, AOI of approximately $350 million, and free cash flow of at least $200 million. - Anticipate AOI will continue to be back half-weighted due to timing of licensing revenue and streaming rate events. - Second quarter AOI will represent the low point for the year due to revenue dynamics and timing of expenses
Segment performance
Domestic operations revenue decreased 3% to $471 million. Subscription revenue decreased 3% year over year with streaming revenue growth of 11% offset by a 16% decline in affiliate revenue. Domestic operations advertising revenues declined 5%, primarily due to lower marketplace pricing. First quarter content licensing revenue of $53 million. Domestic operations AOI decreased 26% to $92 million. International revenues increased 3% to $72 million for the first quarter. Excluding the favorable impact of foreign currency translation, international revenues decreased approximately 5%. International subscription revenue, excluding FX, decreased 5%, reflecting the wind-down of a joint venture that operated primarily in Poland and Africa. International advertising revenue, excluding FX, decreased 5% due to lower ratings and digital advertising in the UK. International AOI for the first quarter was $5 million with an 8% margin
Analyst Q&A
Q: Update on relicensing The Walking Dead, residual component and inclusion in 2026 guidance.
A: Kristen and Mike discussed relicensing considerations, co-exclusivity, and that Walking Dead rights not included in 2026 AOI estimate. -
Q: Streaming revenue growth acceleration in back half.
A: Nick said looking at double digits for the year, building throughout. -
Q: Considerations beyond monetary for Walking Dead licensing, advertising drivers, affiliate improvement.
A: Kim discussed customer experience, ad revenue trends and growth drivers, and affiliate timing and stability. -
Q: Health of content licensing market, ASR and capital allocation.
A: Kristen and Kim talked about content licensing market and Mike discussed capital allocation and ASR. -
Q: Desire to get on more linear domestically and internationally, ad revenue drivers.
A: Kristen talked about desire for linear distribution and David talked about ad revenue drivers. -
Q: Streaming subscribers strategy and monetization.
A: Kristen discussed streaming strategy and holistic approach with distribution partners. -
Q: Cash content spending plans.
A: Dan talked about cash content spending plans being consistent with previous year