![]() ![]() I don’t suppose that Aron is suggesting this, either. Of course, I’m not suggesting that AMC will be debt-free tomorrow or next week. These moves contributed to AMC Entertainment having $703.7 million worth of available liquidity as of March 31. ![]() Yet, this strategy appears to be working in AMC’s favor in 2023.Īron emphasized that, in 2023’s first quarter, AMC Entertainment strengthened its balance sheet by raising over “$155 million of cash through the sale of APE units.” Moreover, the company reduced the principal balance of its debt “by more than $200 million in repurchasing debt or exchanging APE units for debt.” No doubt, it was a controversial move for AMC Entertainment to issue APE units to shore up the company’s capital position. Also, on an adjusted diluted per-share basis, AMC Entertainment’s loss of 13 cents was only half of the year-earlier quarter’s per-share loss of 26 cents. This indicates a notable improvement over the $266.3 million loss from the year-earlier quarter. Furthermore, AMC reported an adjusted net loss of $179.7 million in Q1 2023. These and other blockbusters helped AMC Entertainment bring “nearly 48 million guests” into the company’s theaters in Q1, Aron stated.Ĭonsequently, AMC Entertainment’s revenue increased 21.5% year-over-year to $954.4 million - not too shabby. His company raked in robust revenue during 2023’s first quarter, mainly because of the success of a handful of film franchises.Īron specifically cited the Ant-Man, Avatar, John Wick and Scream movie franchises as strong box-office draws during the first quarter. Hit Movie Franchises Could Boost AMC StockĪMC Entertainment Chairman and CEO Adam Aron made no bones about it. ![]()
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