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Dec 31, 2022
AMC Q4 2022 Earnings Report
AMC Entertainment Holdings, Inc. reported mixed results for Q4 2022, beating revenue and Adjusted EBITDA estimates but showing increased net losses compared to the previous year.
Key Takeaways
AMC Entertainment Holdings, Inc. reported Q4 2022 total revenues of $990.9 million, a decrease from $1,171.7 million in Q4 2021. The net loss increased to $287.7 million, and adjusted EBITDA was $14.5 million, down from $159.2 million in the same quarter last year. Despite the decline, the company highlighted its progress in recovery and ongoing efforts to strengthen its financial position.
Q4 2022 revenue was $990.9 million, beating consensus estimates.
Net loss increased to $287.7 million, including a $133.1 million non-cash impairment charge.
Adjusted EBITDA decreased to $14.5 million from $159.2 million in Q4 2021.
The company continued to innovate and manage its capital structure actively.
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
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CapyFin.com Forward Guidance
AMC is confident that its multi-year recovery will continue to show considerable progress in 2023, driven by a stronger film slate and continued innovation. However, the company emphasizes the importance of agile capital management to ensure long-term viability.
Positive Outlook
- Hollywood is expected to release approximately 75% more major movie titles than it did in 2022.
- The first quarter domestic box office has already posted an impressive 44% increase over 2022.
- AMC is launching AMC Perfectly Popcorn in more than 2,600 Walmart stores.
- AMC has increased its liquidity profile and strengthened its balance sheet through various capital market activities.
- AMC is highly confident that our multi-year recovery will continue to show considerable progress this year.
Challenges Ahead
- The industry-wide box office will not return to pre-pandemic norms before 2024 or 2025 at the earliest.
- It is crucial for AMC to remain viable, they must continue to be agile and nimble in raising cash.
- It is crucial for AMC to remain viable, they must continue to be agile and nimble in decreasing the debt load.
- Stockholders commenced litigation seeking to prevent the conversion of AMC Preferred Equity Units into common without separate common stock class approval at the Special Meeting, which will delay and if successful (or if additional litigation is commenced and successful) could prevent the conversion of APE units into common stock, impede our ability to raise additional funds and materially and adversely impact market prices and the value of APE units and common stock
- The risks and uncertainties relating to the sufficiency of AMC’s existing cash and cash equivalents and available borrowing capacity
Revenue & Expenses
Visualization of income flow from segment revenue to net income