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Jun 30, 2024
AMC Q2 2024 Earnings Report
AMC Entertainment reported results that were adversely impacted by the 2023 Hollywood strikes but finished strongly with successful movie releases, particularly in June.
Key Takeaways
AMC Entertainment Holdings, Inc. reported a decrease in total revenues to $1,030.6 million compared to $1,347.9 million for Q2 2023. The company experienced a net loss of $(32.8) million compared to net earnings of $8.6 million for the same period last year. Despite a slow start to the quarter due to industry strikes, AMC finished strongly, achieving its highest-ever June Adjusted EBITDA.
Total revenues decreased to $1,030.6 million compared to $1,347.9 million in Q2 2023.
Net loss was $(32.8) million, a decline from net earnings of $8.6 million in Q2 2023.
Adjusted EBITDA was $29.4 million, significantly lower than the $182.5 million reported in Q2 2023.
Cash and cash equivalents stood at $770.3 million as of June 30, 2024.
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 believes industry-wide box office is poised for sustained growth with a long list of blockbuster titles opening in theatres during the remainder of the year and into 2025 and 2026, which bodes well for the increasing cash generation potential from AMC’s movie theatres both at home and abroad.
Positive Outlook
- A long list of blockbuster movie titles opening in theatres during the remainder of the year and into 2025 and 2026.
- Industry-wide box office appears poised for sustained growth.
- Potential for increasing cash generation from AMC’s movie theatres both at home and abroad.
- Extension of financial runway for many years into the future.
- Confidence in the company's ability to thrive as both the company and the industry continue to rebound.
Revenue & Expenses
Visualization of income flow from segment revenue to net income