AMC Networks Inc. reported a net loss of $284.5 million, or $6.38 per share, for the fourth quarter ended December 31, 2024, compared to a net loss of $21.8 million, or $0.50 per share, in the same period of 2023. Consolidated revenue for the quarter declined 11.7% year-over-year to $599.3 million, missing analyst consensus estimates.
The company's Adjusted EPS for Q4 2024 was $0.64, an 11.1% decrease year-over-year, also falling short of analyst expectations. The quarter included significant impairment and other charges totaling $345 million, primarily consisting of a $268.7 million goodwill impairment in Domestic Operations and $102.0 million at AMCNI, reflecting trends in the media industry.
Despite the quarterly losses, AMC Networks generated healthy free cash flow of $331 million for the full year 2024. The company increased its cumulative free cash flow expectation for the '24/'25 two-year period to approximately $550 million, signaling confidence in its cash generation capabilities.
Restructuring and other related charges for the year amounted to $49.5 million, including $44.2 million of content impairments. Following the purchase of the remaining interest in BBCA in November 2024, a $43.2 million charge was recorded for scripted original programming that no longer aligned with the channel's strategy.
CEO Kristin Dolan emphasized the company's achievement of full-year guidance across all key financial metrics and highlighted the forging and expansion of innovative partnerships. The company did not repurchase any shares during 2024, with $135 million remaining under its stock repurchase program.
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