AMC Entertainment Holdings (NYSE: AMC) up 15% after announcing its fourth-quarter preliminary results for 2021 in anticipation of potential investor meetings. These are unaudited results, subject to the completion of its financial reporting processes.
Key financial expectations
Total revenues of roughly $1.17 billion expected in the fourth quarter, which will be way more than the $162 million the company reported in the same quarter of the previous financial year. The company expects a net loss of between $194 million and $114 million in the same quarter, which will be less than the $946 million it reported in the same quarter of the previous fiscal year.
Adjusted EBITDA to be between $151.8 million and $146.8 million in the fourth quarter. On the other hand, operating cash generated in the fourth quarter to come to roughly $216.5 million. AMC Entertainment’s Chief Executive Officer and Chairman, Adam Aron said:
“AMC’s 2021 results improved significantly as the year progressed, and we finished the year with the strongest quarter in two years. The fourth quarter of 2021 marks a meaningful milestone with positive EBITDA of more than $145 million, positive Operating Cash Generated of more than $215 million, and a record year-ending liquidity position of $1.8 billion.”
Details about the preliminary results
The preliminary estimated financial data contained in the company’s press release highlights the estimates created by top management based specifically on data availed by the press release. Therefore, the information provided isn’t a comprehensive statement of the company’s fourth-quarter financial results of 2021.
The ranges of these estimated preliminary financial results that have been highlighted above are basically forward-looking statements. The preliminary financial results provided by AMC’s press release are subject to change, and actual financial results for this particular quarter may differ from these estimates.
AMC Entertainment is one of the biggest movie exhibition corporations in the U.S, Europe, and the world in general, with roughly 10,500 movie screens and 950 movie theatres worldwide. In addition, the company has encouraged innovation in the industry at large through its signature power-recliner seat and enhanced food and beverage options.
They are the leaders in the movie exhibition industry by a mile.
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