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AMC Chain Posts $567.2 Million Loss as Film Fans Trickle Back

Tiger Newspress2021-05-07

(Bloomberg) -- AMC Entertainment Holdings Inc. reported a first-quarter loss of $567.2 million, more than Wall Street expected, as moviegoers trickled back to reopened cinemas but continued to show concerns about the pandemic.

The loss amounted to $1.42 a share, AMC said Thursday, smaller greater than the $1.31 a share loss that analysts had expected, on average. Revenue slid 84% to $148.3 million, missing analysts’ predictions of $156.3 million. There was little new to see in theaters during the period.See more details.

Key Insights

AMC has reopened nearly all of its North American theaters and is slowly bringing customers back to cinemas in Europe. But recovery will take time. Sales peaked at $1.51 billion in the second quarter of 2019, and analysts don’t see quarterly revenue topping $1 billion again until the final three months of 2021.The company nearly filed for bankruptcy five times during the pandemic, Chief Executive Officer Adam Aron has said. He has pulled together financing to keep the company afloat as the worst effects of the virus fade. AMC recently dropped plans to issue 500 million new shares, saying investor authorization for a smaller equity sale will be sufficient.On May 4, AMC postponed its annual meeting until July. Two proxy advisers, ISS and Glass Lewis, recommended investors vote against Aron’s pay package, saying a $5 million discretionary cash bonus was excessive in light of the Covid-19 crisis.Shares of the Leawood, Kansas-based chain have soared this year after “influencers” on financially oriented social media recommended that people buy the stock. Aron praised the activity in an interview with a YouTuber and has tweeted about it.

Market Reaction

AMC shares were little changed in extended trading after the results were announced. They had gained 325% through the close Thursday in New York, buoyed by the social media attention.

Get More

Read the statement.See AMC estimates.

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评论29

  • Rem35
    ·2021-05-11
    We are waiting
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  • 77c7f244
    ·2021-05-10
    Need to ride out this painful period
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  • RichTea
    ·2021-05-08
    Buy and hold. 
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  • thefatboi
    ·2021-05-07
    What kind of bullshit article is this? Please do some actual research before posting. You are misleading the public with false information. Some quick facts; CEO of AMC (Adam Aaron) just held their Q1 earnings call and stated that:- AMC has more liquidity right now than in its 101 year history, and enough liquidity to sustain operations until the END of 2022 (hence no 500M share authorization)- Food and beverage sales are up 45% since Q1 2019!
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  • Kel9670ong
    ·2021-05-07
    Share price going to fall rapidly
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  • KriS
    ·2021-05-07
    Frankly speaking, how many company do well during COVID ? Many of the shareholder understand and see that. As of now, if everything goes back to normal, I’m very sure AMC will continue to generate profits and even greater profits upcoming years ahead. To the MOON AMC ! 
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  • Windtalker78
    ·2021-05-07
    Got better counters to hold... Good luck anyway. [比心] 
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  • ynwaben
    ·2021-05-07
    If u can wait, buy and huat.Pls like and comment!!!
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    收起
    • Lucria
      done!!
      2021-05-07
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  • Mr小白
    ·2021-05-07
    Doesn't matter, goreng no need to see QR
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  • Daveb
    ·2021-05-07
    Adam Aron also stated in a press release that the company now holds over $1B in cash reserves and stated that was sufficient to meet ithe companies requirements until the end of 2022.And thats without any income!!.AMC is absolutely out of risk andcwill know grow expedentially. Shorts have lost there isnodoubt about that whatsoever.For further factual information take a look at the most recent Treys Trades.And incidentially, people have been flooding back to theaters... not trickling back.Poor article that does not tell the whole truth. 
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    • Veldora
      But they haven’t been earning even before covid19. their financial is at loss so i am curious if they really can make it
      2021-05-07
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    • Daveb
      I hope you will consider buying a few shares snd just holding them if if it looks like they will go down and down 💎💎💎🤝🤝
      2021-05-19
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    • Daveb
      Yes however covid drew attention to their shortcomings and they have now addressed many of them and are moving strongly forward. and with a 3.5 m new shareholder base of passionate apes. 🚀🚀👍
      2021-05-07
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  • henryee18
    ·2021-05-07
    Going up soon!
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    • jamjam
      hope so
      2021-05-07
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  • Klord
    ·2021-05-07
    Ouch
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  • Jems
    ·2021-05-07
    Like and comment pls
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    • jamjam
      yes
      2021-05-07
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    • StanToh
      like and comment pls
      2021-05-07
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    • 树魔
      Comment
      2021-05-08
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    查看更多 2 条评论
  • Jakee9572
    ·2021-05-07
    This is a bullsh*t article, they raised 1.5 billion in Liquidity this is a clear as day lie of an article I'd suggest deleting it 
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    • Jo5tarz
      ya fake news alot these days
      2021-05-07
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    • Daveb
      I totally agree. who is allowing such rubbish to be published on Tiger. it is wrong to mislead.
      2021-05-07
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  • yngwin111
    ·2021-05-07
    [流泪] [流泪] [流泪] luck idon't own  
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    • Veldora
      Until they show profit at least
      2021-05-07
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    • Daveb
      You will regret not owning AMC. I can promise you that.
      2021-05-07
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  • kamaboboko
    ·2021-05-07
    [Cry] 
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  • me168
    ·2021-05-07
    🍿🍿🍿🚀🚀🚀
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    收起
    • me168
      [比心]
      2021-05-07
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    • Daveb
      🤝🤝
      2021-05-07
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    • Daveb
      YESSSSSS💥💥💥🚀🚀🚀. Well said and thats all that needs to be said🤝🤝🤝👍
      2021-05-07
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  • HawHS
    ·2021-05-07
    😂
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  • KamenRider
    ·2021-05-07
    It will take time to recover that just means this is a good time to buy more. $AMC Entertainment(AMC)$
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    • Daveb
      Yes totally agree. i have 4000 and just bought another 200
      2021-05-07
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  • xiaochan
    ·2021-05-07
    Wow
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