AMCX - AMC Networks: 11.5% Yielding Notes One Of Two Good Income Options
2024-02-14 10:33:59 ET
Summary
- AMC Networks saw a revenue decline of 12.4% in 2023, with sales dropping in all segments of the business.
- The company reduced its operating expenses by nearly $700 million, leading to higher operating income than in 2022.
- AMC Networks has increased its operating cash flows and free cash flow generation, allowing for the pay down of debt and providing liquidity for future debt maturities.
Last week, AMC Networks (AMCX) released its fourth quarter and full year earnings . Investors were not crazy about the results, as share prices dropped 15% on Friday. AMC Networks debt also sold off, with 2029 maturing debt now yielding 11.5%. Having covered AMC Networks' short term debt in the past, I believe the company is positioning itself well to make the 2029 maturing debt a good fixed income investment....
AMC Networks: 11.5% Yielding Notes One Of Two Good Income Options