Loading...
•
Jun 30, 2022
AMC Q2 2022 Earnings Report
Reported second quarter 2022 results, showing significant revenue growth and improved profitability compared to the previous year.
Key Takeaways
AMC Entertainment Holdings, Inc. reported a substantial increase in total revenues, reaching $1,166.4 million, and a reduced net loss of $121.6 million. The company's adjusted EBITDA improved significantly to $106.7 million, and operating cash burn improved to $52.0 million. Attendance increased dramatically to 59 million, and available liquidity remained strong at $1,176.3 million.
Total revenues increased to $1,166.4 million, a 162.3% increase from Q2 2021.
Net loss improved to $121.6 million, compared to a net loss of $344.0 million in Q2 2021.
Adjusted EBITDA was a positive $106.7 million, a $257.5 million improvement from Q2 2021.
The company achieved positive Operating Cash (Burn) Generated of $52.0 million, a $178.8 million improvement from Q2 2021.
AMC
AMC
AMC Revenue by Segment
AMC Revenue by Geographic Location
Revenue by Segment
Admissions Revenue
CapyFin.comFood & Beverage Revenue
CapyFin.comOther Theatre Revenue
CapyFin.comRevenue by Geographic Location
U.S. Markets Revenue
CapyFin.comInternational Markets Revenue
CapyFin.com Forward Guidance
AMC expects significantly improving operating results, beginning in Q4 2022 and continuing into 2023, driven by a strong movie slate and increased domestic box office projections.
Positive Outlook
- Attendance in July 2022 saw the highest number of guests visit AMC’s U.S. theatres since December of 2019.
- Preliminary July food and beverage revenue numbers appear to be the biggest single-month figure at our U.S. theatres in our company’s entire 102-year history.
- A strong movie slate is expected in Q4 2022, including HALLOWEEN ENDS, TICKET TO PARADISE, BLACK ADAM, ARMAGEDDON TIME, AMSTERDAM, A MAN CALLED OTTO, BABYLON, BLACK PANTHER sequel, SHAZAM sequel, and AVATAR sequel.
- The movie slate for 2023 is expected to be strong.
- Internal forecast is that the 2023 domestic box office will be billions of dollars larger than that of 2022.
Challenges Ahead
- There is a dearth of new big movie titles being released in August and September, so things will slow for several weeks.
- Forward-looking statements are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially.
- Risks related to AMC’s ability to obtain additional liquidity.
- The potential impact of AMC’s existing or potential lease defaults.
- The impact of the COVID-19 virus on AMC, the motion picture exhibition industry, and the economy in general.
Revenue & Expenses
Visualization of income flow from segment revenue to net income