AMC Global Media Appoints New CFO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Source: seekingalpha
- Executive Appointment: AMC Global Media has appointed Hozefa Lokhandwala as Chief Financial Officer, effective immediately, aiming to enhance the company's financial management capabilities to tackle future market challenges.
- Background Overview: Prior to joining AMC, Lokhandwala served as an independent director at MSG Networks and held various executive roles at Vice Media Group, including co-CEO, bringing valuable experience and strategic insights to AMC.
- Succession Details: Lokhandwala succeeds Patrick O'Connell, who stepped down in March as part of a previously announced plan, indicating ongoing changes within AMC's executive leadership.
- Market Reaction: Although AMC reported a non-GAAP EPS of $0.08, missing expectations by $0.13, its revenue of $542.13 million exceeded forecasts by $1.81 million, suggesting that the company's efforts to stabilize revenue are beginning to yield positive results.
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Analyst Views on AMCX
Wall Street analysts forecast AMCX stock price to fall
3 Analyst Rating
0 Buy
2 Hold
1 Sell
Moderate Sell
Current: 9.300
Low
6.00
Averages
7.00
High
8.00
Current: 9.300
Low
6.00
Averages
7.00
High
8.00
About AMCX
AMC Global Media Inc, formerly AMC Networks Inc., is a global entertainment company. The Company creates and curates series and films across distinct brands and makes them available to audiences everywhere. The Domestic Operations segment consists of five programming networks, streaming services, AMC Studios operation, and film distribution business. Its programming networks are AMC, We TV, BBC AMERICA, IFC, and SundanceTV. Its streaming services consist of AMC+ and its targeted subscription streaming services (Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE). Its AMC Studios operation produces original programming for its programming services and third parties and also licenses programming worldwide. Its film distribution business includes Independent Film Company, RLJ Entertainment Films and Shudder. The International segment consists of AMC Networks International (AMCNI), its international programming businesses consisting of a portfolio of channels distributed around the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Background Overview: Prior to joining AMC, Lokhandwala served as an independent director at MSG Networks and held various executive roles at Vice Media Group, including co-CEO, bringing valuable experience and strategic insights to AMC.
- Succession Details: Lokhandwala succeeds Patrick O'Connell, who stepped down in March as part of a previously announced plan, indicating ongoing changes within AMC's executive leadership.
- Market Reaction: Although AMC reported a non-GAAP EPS of $0.08, missing expectations by $0.13, its revenue of $542.13 million exceeded forecasts by $1.81 million, suggesting that the company's efforts to stabilize revenue are beginning to yield positive results.
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- SOPHiA GENETICS Public Offering: SOPHiA GENETICS has commenced a proposed underwritten public offering of its ordinary shares, despite a 2.8% decline in after-hours trading, reflecting the company's proactive capital-raising strategy to support future R&D and expansion plans.
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See More
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- Executive Appointment: AMC Global Media has appointed Hozefa Lokhandwala as Chief Financial Officer, effective immediately, aiming to enhance the company's financial management capabilities to tackle future market challenges.
- Background Overview: Prior to joining AMC, Lokhandwala served as an independent director at MSG Networks and held various executive roles at Vice Media Group, including co-CEO, bringing valuable experience and strategic insights to AMC.
- Succession Details: Lokhandwala succeeds Patrick O'Connell, who stepped down in March as part of a previously announced plan, indicating ongoing changes within AMC's executive leadership.
- Market Reaction: Although AMC reported a non-GAAP EPS of $0.08, missing expectations by $0.13, its revenue of $542.13 million exceeded forecasts by $1.81 million, suggesting that the company's efforts to stabilize revenue are beginning to yield positive results.
See More
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See More
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- Slight Revenue Decline: The company posted revenues of $542.13 million, a 2.4% year-over-year decline, although it slightly beat market expectations, the ongoing revenue drop poses challenges for future growth prospects.
- Streaming Revenue Growth: Streaming revenues reached $174 million, an 11% increase from the previous year, representing over a third of domestic operations revenue, suggesting progress in the company's transformation that may drive future growth.
- Stable Cash Flow: Net cash provided by operating activities was $67 million, with free cash flow at $65 million, indicating that despite declining profitability, stable cash flow offers financial flexibility to navigate market fluctuations.
See More
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- Market Reaction: Despite the stable earnings forecast, the neutral rating from analysts could lead to decreased investor interest in the stock, potentially affecting short-term price volatility.
- Strategic Implications: The upcoming earnings report will provide investors with critical financial data to assess AMC's performance and future growth potential in the highly competitive media industry.
See More
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- Revenue Expectations Decline: The consensus revenue estimate stands at $540.32 million, down 2.7% year-over-year, highlighting challenges in revenue growth that could impact the company's future investment appeal.
- Historical Performance Review: Over the past two years, AMC Networks has only beaten EPS estimates 25% of the time and revenue estimates 63% of the time, suggesting instability in the company's earnings forecasts, which may lead to decreased investor confidence.
- Estimate Revision Situation: In the last three months, there have been no upward revisions for EPS or revenue estimates, with five downward revisions each, reflecting analysts' pessimistic outlook on the company's future performance, which could affect stock price movements.
See More
