Content Detail

• Content META

  Title	AMC Networks Inc. Reports Third Quarter 2025 Results
  ID	23016445
  External ID	120000315
  Author
  Published Date	Nov. 7, 2025, 6 a.m.
  Summary	This is a paid press release. Contact the press release distributor directly with any inquiries. AMC Networks Inc. Reports Third Quarter 2025 Results AMC Networks Inc. Fri, November 7, 2025 at 7:00 AM
  Tags
  URL	https://finance.yahoo.com/news/amc-networks-inc-reports-third-120000315.html
  Sentiment	Negative: 0.00863    Neutral: 0.07599    Positive: 0.91538
  Relevance	0.01908

• Content Details

  Content ID	30781053
  Key	8e92aac0-25fa-49d8-bb87-6c0904ff1828
  Content	This is a paid press release. Contact the press release distributor directly with any inquiries. AMC Networks Inc. Reports Third Quarter 2025 Results AMC Networks Inc. Fri, November 7, 2025 at 7:00 AM EST 25 min read AMCX AMC Networks Inc. NEW YORK, Nov. 07, 2025 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (NASDAQ: AMCX) today reported financial results for the third quarter ended September 30, 2025. Chief Executive Officer Kristin Dolan said: "Our performance in the third quarter marks a key milestone in our transition from a cable networks business to a global streaming and technology focused content company. Streaming revenue growth accelerated and will represent our largest single source of domestic revenue this year. We again delivered healthy free cash flow and remain on track to achieve our increased outlook of $250 million in free cash for the full year. We have built the components of a modern media business that is nimble, independent and well suited to today’s environment and whatever comes next." Operational Highlights: Renewed long-term affiliate agreement with DirecTV. Expanded relationship beyond linear to include certain streaming services, including ad-supported AMC+, in DirecTV's genre packaging. DirecTV will also carry 6 of our FAST channels. Continued strong performance for ad-supported AMC+ on Charter with 850k+ Spectrum TV customers accessing the service since launch. Renewed branded content licensing agreement for "The AMC Collection" with Netflix. Expanded long-standing relationship to include international licensing of certain AMC Studios' originals. Launched our first triple bundle with Amazon Prime Video, offering AMC+, MGM+ and Starz at significant savings over stand-alone pricing. Continued momentum in FAST and AVOD with key distribution renewals, including Roku and Samsung. Expanded the Anne Rice Immortal Universe with the premiere of our third series in the franchise, Anne Rice’s Talamasca: The Secret Order . Completed production of a new AMC and AMC+ series that will premiere next spring called The Audacity , written and produced by Better Call Saul and Succession writer Jonathan Glatzer. Announced the renewal of Acorn TV’s most successful series ever, Irish Blood , starring and executive produced by Alicia Silverstone, for a second season. Financial Highlights – Third Quarter Ended September 30, 2025: Net cash provided by operating activities of $45 million; Free Cash Flow (1) of $42 million. Operating income of $56 million; Adjusted Operating Income (1) of $94 million, with a margin of 17%. Net revenues of $562 million decreased 6% from the prior year. Foreign currency translation represented a beneficial impact of approximately 65 basis points to our third quarter revenue growth rate. Flat Domestic Operations subscription revenues as 14% growth in streaming revenues offset declines in affiliate revenues in the third quarter. Diluted EPS of $1.38; Adjusted EPS (1) of $0.18. Story Continues Consolidated Results: (dollars in thousands, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 Change 2025 2024 Change Net Revenues $ 561,741 $ 599,614 (6.3 )% $ 1,716,998 $ 1,822,009 (5.8 )% Operating Income $ 55,518 $ 93,653 (40.7 )% $ 184,184 $ 214,619 (14.2 )% Adjusted Operating Income $ 94,446 $ 131,476 (28.2 )% $ 308,317 $ 433,407 (28.9 )% Diluted Earnings Per Share $ 1.38 $ 0.76 81.6 % $ 2.63 $ 1.21 n/m Adjusted Earnings Per Share $ 0.18 $ 0.91 (80.2 )% $ 1.39 $ 3.27 (57.5 )% Net cash provided by operating activities $ 44,828 $ 62,235 (28.0 )% $ 256,424 $ 317,507 (19.2 )% Free Cash Flow $ 41,996 $ 53,941 (22.1 )% $ 231,922 $ 293,255 (20.9 )% n/m - Absolute percentages greater than 100% and comparisons between positive and negative values or zero values are considered not meaningful. (1) See page 5 of this earnings release for a discussion of non-GAAP financial measures used in this release. This discussion includes the definition of Adjusted Operating Income, Adjusted EPS and Free Cash Flow. Segment Results – Domestic Operations: (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 Change 2025 2024 Change Revenues, net: Subscription $ 316,243 $ 316,002 0.1 % $ 949,975 $ 961,136 (1.2 )% Advertising 110,033 133,139 (17.4 )% 351,887 422,193 (16.7 )% Content licensing and other 59,447 81,102 (26.7 )% 197,021 209,431 (5.9 )% Total revenues, net $ 485,723 $ 530,243 (8.4 )% $ 1,498,883 $ 1,592,760 (5.9 )% Segment Adjusted Operating Income $ 112,223 $ 150,189 (25.3 )% $ 362,486 $ 467,856 (22.5 )% Third Quarter Results Domestic Operations revenues decreased 8% from the prior year to $486 million. Subscription revenues of $316 million were consistent with the prior period as growth in streaming revenues offset declines in affiliate revenues. Streaming revenues increased 14% to $174 million primarily due to the impact of price increases across our services. Streaming subscribers increased 2% to 10.4 million as compared to 10.2 million subscribers at September 30, 2024. Affiliate revenues declined 13% to $142 million primarily due to basic subscriber declines, and to a lesser extent, contractual rate decreases in connection with renewals. Content licensing revenues decreased 27% to $59 million primarily due to the timing and availability of deliveries in the period. Advertising revenues decreased 17% to $110 million primarily due to linear ratings declines and lower marketplace pricing. Segment Adjusted Operating Income decreased 25% to $112 million, with a margin of 23%. Segment Results – International: (dollars in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 Change 2025 2024 Change Revenues, net: Subscription $ 48,087 $ 48,510 (0.9 )% $ 139,858 $ 148,963 (6.1 )% Advertising 25,898 22,454 15.3 % 74,509 81,501 (8.6 )% Content licensing and other 3,159 2,742 15.2 % 8,258 8,942 (7.6 )% Total revenues, net $ 77,144 $ 73,706 4.7 % $ 222,625 $ 239,406 (7.0 )% Segment Adjusted Operating Income $ 11,923 $ 13,542 (12.0 )% $ 36,511 $ 56,207 (35.0 )% Third Quarter Results International revenues increased 5% from the prior year to $77 million. Excluding the favorable impact of foreign currency translation, International revenues decreased 1%. Subscription revenues decreased 1% to $48 million primarily due to the non-renewal of a distribution agreement in Spain in the fourth quarter of 2024, partially offset by the favorable impact of foreign currency translation. Excluding the favorable impact of foreign currency translation, subscription revenues decreased 6%. Advertising revenues increased 15% to $26 million due to strong advertising performance in the UK and Ireland, and the favorable impact of foreign currency translation. Excluding the favorable impact of foreign currency translation, advertising revenues increased 10%. Segment Adjusted Operating Income decreased 12% to $12 million, with a margin of 15%. Other Matters: Credit Agreement Amendment & Partial Prepayment of Term Loan A Facility Borrowings In October, the Company amended its credit agreement. The Company continues to maintain $175.0 million of commitments under the Revolving Credit Facility, however the maturity date of $111.8 million of such commitments was extended to October 29, 2030. The remaining $63.2 million of commitments under the Revolving Credit Facility retained their existing maturity date of April 9, 2028. Additionally, the Company repurchased and permanently retired term loans held by certain lenders that consented to the maturity extension noted above, in an aggregate principal amount equal to $165.7 million, at a price equal to the principal amount thereof plus accrued and unpaid interest. The remaining $85.6 million principal amount retained their existing maturity date of April 9, 2028. Open Market Repurchases of 4.25% Senior Notes due 2029 During the third quarter of 2025, the Company repurchased $9.2 million principal amount of its 4.25% senior notes due 2029 on the open market, at a discount of $1.5 million, and retired the repurchased notes. Stock Repurchase Program & Outstanding Shares As previously disclosed, the Company's Board of Directors has authorized a program to repurchase up to $1.5 billion of the Company's outstanding shares of common stock. The Stock Repurchase Program has no pre-established end date and may be suspended or discontinued at any time. During the quarter ended September 30, 2025, the Company did not repurchase any shares. As of September 30, 2025, the Company had $125 million of authorization remaining for repurchase under the Stock Repurchase Program. As of October 31, 2025, the Company had 32,042,361 shares of Class A Common Stock and 11,484,408 shares of Class B Common Stock outstanding. Please see the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2025, which will be filed later today, for further details regarding the above matters. Description of Non-GAAP Measures Internally, the Company uses Adjusted Operating Income (Loss) and Free Cash Flow measures as the most important indicators of its business performance and evaluates management’s effectiveness with specific reference to these indicators. The Company defines Adjusted Operating Income (Loss), which is a non-GAAP financial measure, as operating income (loss) before share-based compensation expense or benefit, depreciation and amortization, impairment and other charges (including gains or losses on sales or dispositions of businesses), restructuring and other related charges, cloud computing amortization, and including the Company’s proportionate share of adjusted operating income (loss) from majority-owned equity method investees. From time to time, we may exclude the impact of certain events, gains, losses, or other charges (such as significant legal settlements) from AOI that affect our operating performance. Because it is based upon operating income (loss), Adjusted Operating Income (Loss) also excludes interest expense (including cash interest expense) and other non-operating income and expense items. The Company believes that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of the various operating units of the business without regard to the effect of the settlement of an obligation that is not expected to be made in cash. The Company believes that Adjusted Operating Income (Loss) is an appropriate measure for evaluating the operating performance of the business segments and the Company on a consolidated basis. Adjusted Operating Income (Loss) and similar measures with similar titles are common performance measures used by investors, analysts, and peers to compare performance in the industry. Adjusted Operating Income (Loss) should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), and other measures of performance presented in accordance with U.S. generally accepted accounting principles ("GAAP"). Since Adjusted Operating Income (Loss) is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. For a reconciliation of operating income (loss) to Adjusted Operating Income (Loss), please see page 11 of this release. The Company defines Free Cash Flow, which is a non-GAAP financial measure, as net cash provided by operating activities less capital expenditures, all of which are reported in our Consolidated Statement of Cash Flows. The Company believes the most comparable GAAP financial measure of its liquidity is net cash provided by operating activities. The Company believes that Free Cash Flow is useful as an indicator of its overall liquidity, as the amount of Free Cash Flow generated in any period is representative of cash that is available for debt repayment, investment, and other discretionary and non-discretionary cash uses. The Company also believes that Free Cash Flow is one of several benchmarks used by analysts and investors who follow the industry for comparison of its liquidity with other companies in the industry, although the Company’s measure of Free Cash Flow may not be directly comparable to similar measures reported by other companies. For a reconciliation of net cash provided by operating activities to Free Cash Flow, please see page 11 of this release. The Company defines Adjusted Earnings per Diluted Share (“Adjusted EPS”), which is a non-GAAP financial measure, as earnings per diluted share excluding the following items: amortization of acquisition-related intangible assets; impairment and other charges (including gains or losses on sales or dispositions of businesses); non-cash impairments of goodwill, intangible and fixed assets; restructuring and other related charges; and the impact associated with the modification of debt arrangements, including gains and losses related to the extinguishment of debt; as well as the impact of taxes on the aforementioned items and other one-time tax charges/benefits. The Company believes the most comparable GAAP financial measure is earnings per diluted share. The Company believes that Adjusted EPS is one of several benchmarks used by analysts and investors who follow the industry for comparison of its performance with other companies in the industry, although the Company’s measure of Adjusted EPS may not be directly comparable to similar measures reported by other companies. For a reconciliation of earnings per diluted share to Adjusted EPS, please see pages 12-13 of this release. Forward-Looking Statements This earnings release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein. Conference Call Information AMC Networks will host a conference call today at 8:30 a.m. ET to discuss its third quarter 2025 results. To listen to the call, please visit investors.amcnetworks.com. About AMC Networks Inc. AMC Networks (Nasdaq: AMCX) is home to many of the greatest stories and characters in TV and film and the premier destination for passionate and engaged fan communities around the world. The Company creates and curates celebrated series and films across distinct brands and makes them available to audiences everywhere. Its portfolio includes targeted streaming services AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK and HIDIVE; cable networks AMC, BBC AMERICA (which includes U.S. distribution and sales responsibilities for BBC News), IFC, SundanceTV and We TV; and film distribution labels Independent Film Company and RLJE Films. The Company also operates AMC Studios, its in-house studio, production and distribution operation behind acclaimed and fan-favorite original franchises including The Walking Dead Universe and the Anne Rice Immortal Universe; and AMC Networks International, its international programming business. Contact Investor Relations Corporate Communications Nicholas Seibert Georgia Juvelis nicholas.seibert@amcnetworks.com georgia.juvelis@amcnetworks.com AMC NETWORKS INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share amounts) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Revenues, net $ 561,741 $ 599,614 $ 1,716,998 $ 1,822,009 Operating expenses: Technical and operating (excluding depreciation and amortization) 291,075 287,746 842,297 840,049 Selling, general and administrative 189,291 191,622 608,970 588,679 Depreciation and amortization 21,378 23,097 68,750 75,416 Impairment and other charges — — — 96,819 Restructuring and other related charges 4,479 3,496 12,797 6,427 Total operating expenses 506,223 505,961 1,532,814 1,607,390 Operating income 55,518 93,653 184,184 214,619 Other income (expense): Interest expense (44,574 ) (45,123 ) (130,426 ) (121,180 ) Interest income 6,113 9,303 22,733 27,480 Gain (loss) on extinguishment of debt, net 105,316 (352 ) 131,061 (105 ) Miscellaneous, net 473 8,850 21,180 5,153 Total other income (expense) 67,328 (27,322 ) 44,548 (88,652 ) Income from operations before income taxes 122,846 66,331 228,732 125,967 Income tax expense (42,765 ) (19,891 ) (73,792 ) (54,433 ) Net income including noncontrolling interests 80,081 46,440 154,940 71,534 Less: Net income attributable to noncontrolling interests (3,552 ) (5,058 ) (10,073 ) (13,583 ) Net income attributable to AMC Networks' stockholders $ 76,529 $ 41,382 $ 144,867 $ 57,951 Net income per share attributable to AMC Networks' stockholders: Basic $ 1.73 $ 0.93 $ 3.25 $ 1.31 Diluted $ 1.38 $ 0.76 $ 2.63 $ 1.21 Weighted average common shares: Basic 44,136 44,607 44,606 44,381 Diluted 56,275 56,149 56,412 49,038 AMC NETWORKS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)/(unaudited) Nine Months Ended September 30, 2025 2024 Cash flows from operating activities: Net income including noncontrolling interests $ 154,940 $ 71,534 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 68,750 75,416 Non-cash impairment and other charges — 96,819 Share-based compensation expenses related to equity classified awards 19,827 20,308 Non-cash restructuring and other related charges 5,320 1,641 Amortization and write-off of program rights 625,870 641,706 Amortization of deferred carriage fees 18,210 18,362 Unrealized foreign currency transaction gain (11,650 ) (5,311 ) Amortization of deferred financing costs and discounts on indebtedness 5,611 5,375 (Gain) loss on extinguishment of debt, net (131,061 ) 105 Deferred income taxes 20,587 (9,857 ) Other, net (7,531 ) (667 ) Changes in assets and liabilities: Accounts receivable, trade (including amounts due from related parties, net) 58,753 18,012 Prepaid expenses and other assets 41,461 184,066 Program rights and obligations, net (569,241 ) (691,545 ) Deferred revenue 13,505 2,847 Accounts payable, accrued liabilities and other liabilities (56,927 ) (111,304 ) Net cash provided by operating activities 256,424 317,507 Cash flows from investing activities: Capital expenditures (24,502 ) (24,252 ) Other investing activities, net (8 ) 4,085 Net cash used in investing activities (24,510 ) (20,167 ) Cash flows from financing activities: Proceeds from the issuance of 10.50% Senior Secured Notes due 2032, net 394,500 — Proceeds from the issuance of 10.25% Senior Secured Notes due 2029, net — 862,969 Proceeds from the issuance of 4.25% Convertible Senior Notes due 2029, net — 139,437 Tender and redemption of 4.75% Senior Notes due 2025 — (774,729 ) Principal payments on Term Loan A Facility (114,375 ) (233,750 ) Tender and repurchase of 4.25% Senior Notes due 2029 (569,078 ) (10,129 ) Payments for financing costs (3,094 ) (10,450 ) Deemed repurchases of restricted stock units (4,044 ) (4,626 ) Purchase of treasury stock (10,329 ) — Principal payments on finance lease obligations (3,542 ) (3,461 ) Distributions to noncontrolling interests (7,271 ) (18,000 ) Net cash used in financing activities (317,233 ) (52,739 ) Net increase (decrease) in cash and cash equivalents from operations (85,319 ) 244,601 Effect of exchange rate changes on cash and cash equivalents 17,508 1,200 Cash and cash equivalents at beginning of period 784,649 570,576 Cash and cash equivalents at end of period $ 716,838 $ 816,377 AMC NETWORKS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) (unaudited) September 30, 2025 December 31, 2024 ASSETS Current Assets: Cash and cash equivalents $ 716,838 $ 784,649 Accounts receivable, trade (less allowance for doubtful accounts of $9,987 and $9,468) 571,613 623,898 Prepaid expenses and other current assets 228,712 262,257 Total current assets 1,517,163 1,670,804 Property and equipment, net of accumulated depreciation of $414,817 and $458,396 123,602 143,036 Program rights, net 1,731,418 1,713,952 Intangible assets, net 196,780 216,478 Goodwill 260,015 246,304 Deferred tax assets, net 18,592 13,183 Operating lease right-of-use assets 46,065 58,390 Other assets 315,759 300,074 Total assets $ 4,209,394 $ 4,362,221 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 88,549 $ 88,570 Accrued liabilities 281,641 290,718 Current portion of program rights obligations 229,782 221,603 Deferred revenue 74,495 61,838 Current portion of long-term debt 7,500 7,500 Current portion of lease obligations 33,793 32,439 Total current liabilities 715,760 702,668 Program rights obligations 207,810 144,476 Long-term debt, net 1,911,213 2,328,719 Lease obligations 42,855 64,581 Deferred tax liabilities, net 146,274 121,302 Other liabilities 41,837 60,334 Total liabilities 3,065,749 3,422,080 Commitments and contingencies Redeemable noncontrolling interests 60,389 55,881 Stockholders' equity: Class A Common Stock, $0.01 par value, 360,000 shares authorized: 66,730 and 66,730 shares issued and 31,971 and 32,636 shares outstanding, respectively 667 667 Class B Common Stock, $0.01 par value, 90,000 shares authorized: 11,484 shares issued and outstanding 115 115 Preferred stock, $0.01 par value, 45,000 shares authorized: none issued — — Paid-in capital 438,924 437,860 Accumulated earnings 2,231,593 2,092,229 Treasury stock, at cost (34,759 and 34,094 shares Class A Common Stock, respectively) (1,399,122 ) (1,408,307 ) Accumulated other comprehensive loss (219,321 ) (266,969 ) Total AMC Networks stockholders' equity 1,052,856 855,595 Non-redeemable noncontrolling interests 30,400 28,665 Total stockholders' equity 1,083,256 884,260 Total liabilities and stockholders' equity $ 4,209,394 $ 4,362,221 AMC NETWORKS INC. SUPPLEMENTAL FINANCIAL DATA (in thousands) (unaudited) Capitalization September 30, 2025 Cash and cash equivalents $ 716,838 Credit facility debt (a) $ 251,250 10.25% Senior Secured Notes due January 2029 $ 875,000 4.25% Senior Notes due February 2029 276,706 4.25% Convertible Senior Notes due February 2029 (b) 143,750 10.50% Senior Secured Notes due July 2032 400,000 Senior notes (c) $ 1,695,456 Total debt $ 1,946,706 Net debt $ 1,229,868 Finance leases 14,323 Net debt and finance leases $ 1,244,191 Twelve Months Ended September 30, 2025 Operating Income (Loss) - (GAAP) $ (70,035 ) Share-based compensation expense 25,570 Depreciation and amortization 91,349 Restructuring and other related charges 55,834 Impairment and other charges 302,694 Cloud computing amortization 11,692 Majority owned equity investees 20,379 Adjusted Operating Income - (Non-GAAP) $ 437,483 Leverage ratio (d) 2.8 x (a) Represents the aggregate principal amount of the debt, with the Term Loan A of $251.3 million and commitments under our undrawn $175.0 million revolving credit facility. Total undrawn revolver commitments are available to be drawn for general corporate purposes of the Company. (b) Subject to the terms of the indenture for the Convertible Notes, the Convertible Notes may be converted at an initial conversion rate of 78.5083 shares of Class A Common Stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $12.74 per share of Class A Common Stock). (c) Represents the aggregate principal amount of the debt. (d) Represents net debt and finance leases divided by Adjusted Operating Income for the twelve months ended September 30, 2025. This ratio differs from the calculation contained in the Company's credit facility. No adjustments have been made for consolidated entities that are not 100% owned. AMC Networks was in compliance with all of its financial covenants under the Company's credit facility as of September 30, 2025. As of September 30, 2025, as determined for purposes of the Company’s credit facility, the Net Leverage Ratio was approximately 4.33:1.00 and the Interest Coverage Ratio was approximately 2.20:1.00. AMC NETWORKS INC. SUPPLEMENTAL FINANCIAL DATA (in thousands) (unaudited) Adjusted Operating Income Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Operating income $ 55,518 $ 93,653 $ 184,184 $ 214,619 Share-based compensation expenses 6,027 5,776 19,827 20,308 Depreciation and amortization 21,378 23,097 68,750 75,416 Restructuring and other related charges 4,479 3,496 12,797 6,427 Impairment and other charges — — — 96,819 Cloud computing amortization 2,405 3,272 8,343 10,103 Majority owned equity investees AOI 4,639 2,182 14,416 9,715 Adjusted operating income $ 94,446 $ 131,476 $ 308,317 $ 433,407 Free Cash Flow (1) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net cash provided by operating activities $ 44,828 $ 62,235 $ 256,424 $ 317,507 Less: capital expenditures (2,832 ) (8,294 ) (24,502 ) (24,252 ) Free Cash Flow $ 41,996 $ 53,941 $ 231,922 $ 293,255 Supplemental Cash Flow Information Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Restructuring initiatives (2) $ (3,164 ) $ (2,248 ) $ (11,084 ) $ (10,351 ) Distributions to noncontrolling interests (3) (7,271 ) (1,480 ) (7,271 ) (18,000 ) (1) Free Cash Flow includes the impact of certain cash receipts or payments (such as restructuring initiatives, significant legal settlements and programming write-offs) that affect period-to-period comparability. (2) Restructuring initiatives includes cash payments of $3.1 million and $10.3 million for severance and employee-related costs for the three and nine months ended September 30, 2025, respectively, and $0.1 million and $0.8 million for content impairments and other exit costs for the three and nine months ended September 30, 2025, respectively. Restructuring initiatives includes cash payments of $1.8 million and $7.7 million for severance and employee-related costs for the three and nine months ended September 30, 2024, respectively, and $0.4 million and $2.6 million for content impairments and other exit costs for the three and nine months ended September 30, 2024, respectively. (3) For the three months ended September 30, 2025, distributions to noncontrolling interests included a cash distribution of $7.3 million primarily related to the one-time retroactive revenue adjustment payments received in the U.K. that were recognized in the second and fourth quarters of 2024. AMC NETWORKS INC. SUPPLEMENTAL FINANCIAL DATA (in thousands, except per share amounts) (unaudited) Adjusted Earnings Per Share Three Months Ended September 30, 2025 Income from operations before income taxes Income tax (expense) benefit Less: Net income attributable to noncontrolling interests Net income attributable to AMC Networks' stockholders Diluted EPS attributable to AMC Networks' stockholders Reported Results (GAAP) (1) $ 124,373 $ (43,146 ) $ (3,552 ) $ 77,675 $ 1.38 Adjustments: Amortization of acquisition-related intangible assets 7,582 (1,727 ) (359 ) 5,496 0.10 Restructuring and other related charges 4,479 (1,075 ) (318 ) 3,086 0.05 Impairment and other charges — — — — — (Gain) loss on extinguishment of debt, net (105,316 ) 22,704 — (82,612 ) (1.47 ) Tax reform (2) — 6,716 — 6,716 0.12 Adjusted Results (Non-GAAP) $ 31,118 $ (16,528 ) $ (4,229 ) $ 10,361 $ 0.18 (1) Includes the required adjustment for interest expense associated with the convertible debt. (2) Represents a timing adjustment between current and deferred tax expense as a result of tax reform that will reverse in the fourth quarter of 2025. Three Months Ended September 30, 2024 Income from operations before income taxes Income tax expense Less: Net (income) loss attributable to noncontrolling interests Net income attributable to AMC Networks' stockholders Diluted EPS attributable to AMC Networks' stockholders Reported Results (GAAP) (1) $ 67,858 $ (20,274 ) $ (5,058 ) $ 42,526 $ 0.76 Adjustments: Amortization of acquisition-related intangible assets 7,917 (1,645 ) (359 ) 5,913 0.10 Restructuring and other related charges 3,496 (860 ) — 2,636 0.05 Impairment and other charges — — — — — (Gain) loss on extinguishment of debt, net 352 (93 ) — 259 — Adjusted Results (Non-GAAP) $ 79,623 $ (22,872 ) $ (5,417 ) $ 51,334 $ 0.91 (1) Includes the required adjustment for interest expense associated with the convertible debt. AMC NETWORKS INC. SUPPLEMENTAL FINANCIAL DATA (in thousands, except per share amounts) (unaudited) Adjusted Earnings Per Share Nine Months Ended September 30, 2025 Income from operations before income taxes Income tax (expense) benefit Less: Net (income) loss attributable to noncontrolling interests Net income attributable to AMC Networks' stockholders Diluted EPS attributable to AMC Networks' stockholders Reported Results (GAAP) (1) $ 233,314 $ (74,937 ) $ (10,073 ) $ 148,304 $ 2.63 Adjustments: Amortization of acquisition-related intangible assets 23,372 (5,423 ) (1,076 ) 16,873 0.30 Restructuring and other related charges 12,797 (1,953 ) (1,359 ) 9,485 0.16 Impairment and other charges — — — — — (Gain) loss on extinguishment of debt, net (131,061 ) 28,361 — (102,700 ) (1.82 ) Tax reform (2) — 6,716 — 6,716 0.12 Adjusted Results (Non-GAAP) $ 138,422 $ (47,236 ) $ (12,508 ) $ 78,678 $ 1.39 (1) Includes the required adjustment for interest expense associated with the convertible debt. (2) Represents a timing adjustment between current and deferred tax expense as a result of tax reform that will reverse in the fourth quarter of 2025. Nine Months Ended September 30, 2024 Income from operations before income taxes Income tax expense Less: Net (income) loss attributable to noncontrolling interests Net income attributable to AMC Networks' stockholders Diluted EPS attributable to AMC Networks' stockholders Reported Results (GAAP) (1) $ 127,647 $ (54,853 ) $ (13,583 ) $ 59,211 $ 1.21 Adjustments: Amortization of acquisition-related intangible assets 26,081 (5,978 ) (2,283 ) 17,820 0.36 Restructuring and other related charges 6,427 (1,644 ) — 4,783 0.10 Impairment and other charges 96,819 (3,801 ) (14,616 ) 78,402 1.60 (Gain) loss on extinguishment of debt, net 105 (27 ) — 78 — Adjusted Results (Non-GAAP) $ 257,079 $ (66,303 ) $ (30,482 ) $ 160,294 $ 3.27 (1) Includes the required adjustment for interest expense associated with the convertible debt. View Comments Terms and Privacy Policy Privacy Dashboard More Info
  Content Reference URL	None

• Publisher

  Publisher Name	Financial Planning (#6135)
  Publisher URL	https://finance.yahoo.com
  Description	None
  Trust Flow Score	83
  Citation Flow Score	57

• Data Source

  Data Source Name	Yahoo Finance News (#2)
  Data Source Type	news
  Data Source URL	https://finance.yahoo.com/
  Description	Yahoo! Finance is a media property that is part of the Yahoo! network. It provides financial news, data and commentary including stock quotes, press releases, financial reports, and original content. It also offers some online tools for personal finance management.
  Weight	10