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Dec 31, 2023
AMC Q4 2023 Earnings Report
AMC Entertainment reported strong Q4 2023 results, exceeding consensus expectations and demonstrating continued recovery.
Key Takeaways
AMC Entertainment Holdings, Inc. reported an 11.5% increase in total revenues for Q4 2023, reaching $1,104.4 million. The net loss improved to $182.0 million, and adjusted EBITDA increased by 193% to $42.5 million. The company's cash and cash equivalents at the end of the year stood at $884.3 million.
Total revenues increased by 11.5% to $1,104.4 million compared to Q4 2022.
Net loss improved to $182.0 million, including a non-cash impairment charge.
Adjusted EBITDA increased 193% to $42.5 million compared to Q4 2022.
Cash and cash equivalents at December 31, 2023, were $884.3 million.
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 the box office to start to strengthen again as soon as this coming month of March, in some of the summer months and especially in the latter third of this year. And over the medium term, they are both bullish and optimistic. With all the caveats that no one’s crystal ball is perfect, they currently expect that the industry box office in 2025 will grow by $1 to $2 billion, or more, in size over 2024.
Positive Outlook
- Box office will start to strengthen again as soon as this coming month of March
- Box office will strengthen in some of the summer months
- Box office will strengthen especially in the latter third of this year
- Industry box office in 2025 will grow by $1 to $2 billion, or more, in size over 2024.
- Implemented decisive measures to strategically position the company
Challenges Ahead
- Multi-month writers and actors strikes of 2023 crippled Hollywood for months on end
- Strikes seriously hurt theatre operators who were forced to wait for delayed movie titles
- Fourth quarter domestic industry-wide box office was down 35% versus pre-pandemic 2019.
- January/February 2024 domestic industry-wide box office was down about 45% versus the same months of pre-pandemic 2020.
- Strike impacts will only be short-term in nature
Revenue & Expenses
Visualization of income flow from segment revenue to net income