AMC Posts Record Q2 Revenue and Adjusted EBITDA in 106-Year History
AMC has more than doubled off its 52-week low of $0.93.
Summary
AMC Entertainment reported record Q2 revenue of $1.60 billion and its highest Adjusted EBITDA ever, a significant achievement for the 106-year-old company. The company posted a Q2 Adjusted EPS of 14 cents, though it also reported a Q2 loss per share of 2 cents, with a Q2 EPS restatement noted. These results, following a strong Q1, indicate an accelerating theatrical recovery beyond pre-pandemic levels, driven by a robust film slate and operational leverage. However, shareholder dilution from a $150 million ATM offering in June and a $200 million direct offering at $2.10 per share may temper the per-share benefits. An earnings call at 8:30 AM EDT is scheduled to provide further details on margins, cash flow, and the impact of recent capital raises.
At the time of this announcement, AMC was trading at $1.94 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $0.93 to $3.60. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: BusinessWire.