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Financial Data and Key Metrics Changes - In Q3 2024, AMC's net loss narrowed by 37% compared to Q2 2024, with total revenues increasing by 31% from Q2 2024 [14][35] - AMC's adjusted EBITDA was four times stronger in Q3 2024 than in Q2 2024, marking the second-best EBITDA performance for any third quarter in the company's history [16][35] - The company ended Q3 2024 with approximately $527 million in cash on hand, excluding restricted cash [25][48] Business Line Data and Key Metrics Changes - AMC achieved record admissions revenue per patron in Q3 2024, with food and beverage revenues per patron also reaching an all-time high [15][39] - Revenue per patron was $20.72, up 37.1% from pre-pandemic levels in 2019, while contribution margin per patron was $13.49, up 41% from 2019 [37] - Food and beverage revenue per patron hit $7.53, a 14.8% increase compared to Q3 2023 and a 56.3% increase compared to Q3 2019 [39] Market Data and Key Metrics Changes - The domestic industry box office reached a post-pandemic high of $2.7 billion in Q3 2024, up 37% from Q2 2024 [10] - AMC's consolidated attendance was approximately 12% below the same period last year, with European markets experiencing a 16% decline in attendance [32][33] - AMC welcomed 65 million moviegoers worldwide in Q3 2024, representing a sequential revenue increase of approximately 31% compared to Q2 2024 [35] Company Strategy and Development Direction - AMC plans to implement the G.O. Plan, a multi-year initiative to reinvest between $1 billion and $1.5 billion into theaters to enhance the moviegoing experience [55][104] - The G.O. Plan includes upgrading projection technology, renovating theaters, and expanding premium large format screens [60][72] - The company aims to maintain robust cash reserves while managing debt levels and liquidity to support future investments [57][89] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the box office recovery, anticipating a strong Q4 2024 and continued growth in 2025 and 2026 [20][21] - The company highlighted the importance of a diverse film slate, including both blockbuster and smaller films, to drive attendance [119] - Management acknowledged ongoing challenges but emphasized the success of recent initiatives and the potential for future growth [90] Other Important Information - AMC successfully extended $2.4 billion of long-term debt maturities from 2026 to 2029 and 2030, and paid down $345 million of debt year-to-date [24][42] - The company closed 11 underperforming locations and opened one new location, resulting in a net reduction of 126 locations since 2020 [50] Q&A Session Summary Question: Are there plans to enhance or change AMC's loyalty programs in the future? - Management confirmed that significant enhancements are coming to the AMC Stubs and A-List programs in 2025, following extensive market research [102] Question: Can you discuss the financing and timing of future investments? - Management indicated that the investment plan will be executed with fiscal discipline, with spending tied to rising EBITDA and shareholder input [104] Question: What is AMC's approach to sports programming opportunities? - Management expressed interest in exploring sports programming, including potential partnerships for broadcasting games, while acknowledging the challenges of securing rights [112][116]

Core Insights - AMC Entertainment reported revenue of $1.35 billion for the quarter ended September 2024, a decrease of 4.1% year-over-year, but exceeded the Zacks Consensus Estimate by 1.20% [1] - The company posted an EPS of -$0.04, an improvement from -$0.09 in the same quarter last year, resulting in a positive EPS surprise of 42.86% compared to the consensus estimate of -$0.07 [1] Revenue Breakdown - Food and beverage revenue reached $490.40 million, surpassing the average estimate of $457.23 million, reflecting a year-over-year increase of 1.6% [3] - Other theatre revenue was reported at $114.20 million, below the estimated $118.75 million, indicating a decline of 9% compared to the previous year [3] - Admissions revenue totaled $744.20 million, slightly below the average estimate of $749.93 million, marking a year-over-year decrease of 6.7% [3] Stock Performance - AMC Entertainment's shares have increased by 5.3% over the past month, outperforming the Zacks S&P 500 composite, which rose by 0.7% [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

Group 1: Earnings Performance - AMC Entertainment reported a quarterly loss of $0.04 per share, better than the Zacks Consensus Estimate of a loss of $0.07, and an improvement from a loss of $0.09 per share a year ago, representing an earnings surprise of 42.86% [1] - The company posted revenues of $1.35 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.20%, although this is a decline from year-ago revenues of $1.41 billion [2] - Over the last four quarters, AMC has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - AMC shares have lost approximately 28.3% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is -$0.10 on revenues of $1.33 billion, and for the current fiscal year, it is -$0.86 on revenues of $4.63 billion [7] Group 3: Industry Context - The Leisure and Recreation Services industry, to which AMC belongs, is currently in the top 29% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that tracking these revisions can be beneficial for investors [5]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q March 31, (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33892 AMC ENTERTAINMENT HOLDINGS, INC. (Exact name of registrant as specified in its charter) De ...

[AMC Entertainment Holdings, Inc. Third Quarter 2024 Results](index=1&type=section&id=AMC%20Entertainment%20Holdings%2C%20Inc.%20Third%20Quarter%202024%20Results) [Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) The company reported Q3 revenues of $1.35 billion and a net loss, but showed strong sequential improvement [Third Quarter 2024 Summary Results](index=1&type=section&id=Third%20Quarter%202024%20Summary%20Results) The company reported total revenues of $1.35 billion, a net loss of $20.7 million, and ended Q3 with $527.4 million in cash Q3 2024 Financial Summary | Metric | Value (USD) | | :--- | :--- | | Total Revenues | $1,348.8 million | | Net Loss | $(20.7) million | | Adjusted EBITDA | $161.8 million | | Net cash used in operating activities | $(31.5) million | | Cash and cash equivalents | $527.4 million | [Management Commentary](index=1&type=section&id=Management%20Commentary) Management highlighted a historically strong Adjusted EBITDA, significant sequential growth, and a bullish outlook - Q3 2024 Adjusted EBITDA was the **second-best performance** of any third quarter in AMC's 104-year history[2](index=2&type=chunk) - Compared to Q2 2024, Q3 Total Revenues were **31% stronger**, Net Loss narrowed by 37%, and Adjusted EBITDA was four times stronger[2](index=2&type=chunk) - The company achieved a **new record** for third-quarter admissions revenue per patron and an all-time quarterly record for food and beverage revenue per patron[2](index=2&type=chunk) - Management is bullish about the upcoming movie slate, expecting the industry-wide box office to **rise markedly**[2](index=2&type=chunk)[4](index=4&type=chunk) [Detailed Financial Performance](index=4&type=section&id=Detailed%20Financial%20Performance) Q3 revenues declined 4.1% YoY to $1.35 billion, driven by lower attendance despite higher per-patron spending [Key Financial Results (GAAP & Non-GAAP)](index=4&type=section&id=Key%20Financial%20Results%20(GAAP%20%26%20Non-GAAP)) The company's Q3 revenue fell 4.1% YoY, shifting from a net profit to a net loss of $20.7 million Q3 2024 vs Q3 2023 Performance (in millions) | Metric | Q3 2024 | Q3 2023 | Change | | :--- | :--- | :--- | :--- | | Total Revenues | $1,348.8 | $1,405.9 | (4.1)% | | Net Earnings (Loss) | $(20.7) | $12.3 | $(33.0) | | Adjusted EBITDA | $161.8 | $199.9 | $(38.1) | | Diluted EPS | $(0.06) | $0.08 | $(0.14) | | Attendance (thousands) | 65,087 | 73,576 | (11.5)% | Nine Months 2024 vs 2023 Performance (in millions) | Metric | YTD 2024 | YTD 2023 | Change | | :--- | :--- | :--- | :--- | | Total Revenues | $3,330.8 | $3,708.2 | (10.2)% | | Net Loss | $(217.0) | $(214.6) | $(2.4) | | Adjusted EBITDA | $179.1 | $406.4 | $(227.3) | | Diluted EPS | $(0.69) | $(1.43) | $0.74 | | Attendance (thousands) | 161,731 | 187,565 | (13.8)% | [Consolidated Financial Statements](index=10&type=section&id=Consolidated%20Financial%20Statements) Financial statements detail a YoY decline in revenue and operating income, with $4.14 billion in corporate borrowings Consolidated Statement of Operations Highlights - Q3 (in millions) | Line Item | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Total Revenues | $1,348.8 | $1,405.9 | | Admissions | $744.2 | $797.7 | | Food and beverage | $490.4 | $482.7 | | Operating Income | $71.8 | $99.4 | | Net Earnings (Loss) | $(20.7) | $12.3 | Consolidated Balance Sheet Highlights (in millions) | Line Item | Sept 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $527.4 | $884.3 | | Corporate borrowings | $4,144.0 | $4,577.4 | | Total assets | $8,324.1 | $9,009.2 | [Operating Metrics & Segment Data](index=12&type=section&id=Operating%20Metrics%20%26%20Segment%20Data) Attendance fell 11.5% YoY, but average ticket price and record food and beverage revenue per patron increased Q3 2024 Key Operating Metrics (YoY) | Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Attendance (thousands) | 65,087 | 73,576 | | Average Ticket Price | $11.43 | $10.84 | | F&B Revenue per Patron | $7.53 | $6.56 | | Average Screens | 9,534 | 9,781 | Q3 2024 Segment Performance (in millions) | Segment | Revenues | Adjusted EBITDA | | :--- | :--- | :--- | | U.S. Markets | $1,055.3 | $143.3 | | International Markets | $293.5 | $18.5 | | **Consolidated** | **$1,348.8** | **$161.8** | [Balance Sheet & Capital Markets Activity](index=4&type=section&id=Balance%20Sheet%20%26%20Capital%20Markets%20Activity) The company improved its debt profile by extending maturities for $2.4 billion of debt and reducing total borrowings - The company ended the quarter with **$527.4 million in cash**, excluding $49.7 million in restricted cash[8](index=8&type=chunk) - Completed transactions to extend the maturity of approximately **$2.4 billion of debt** due in 2026 to new maturity dates in 2029 and 2030[8](index=8&type=chunk) - Year-to-date in 2024, the company has reduced the total principal amount of corporate borrowings and finance leases by **$349 million**[14](index=14&type=chunk) - Various debt tranches, including Second Lien Notes and Senior Subordinated Notes, were repurchased or exchanged for a combination of cash and Class A common stock[12](index=12&type=chunk)[13](index=13&type=chunk) [Non-GAAP Financial Measure Reconciliations](index=14&type=section&id=Non-GAAP%20Financial%20Measure%20Reconciliations) This section reconciles GAAP net loss to non-GAAP measures like Adjusted EBITDA and shows negative Free Cash Flow Q3 2024 Adjusted EBITDA Reconciliation (in millions) | Line Item | Amount | | :--- | :--- | | Net Loss | $(20.7) | | Plus: Income tax benefit | $(1.1) | | Plus: Interest expense | $119.6 | | Plus: Depreciation & amortization | $80.8 | | Other adjustments | $(16.8) | | **Adjusted EBITDA** | **$161.8** | Q3 2024 Free Cash Flow Reconciliation (in millions) | Line Item | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(31.5) | $65.9 | | Less: Total capital expenditures | $(60.7) | $(57.5) | | **Free Cash Flow** | **$(92.2)** | **$8.4** | Q3 2024 Adjusted Net Loss Reconciliation (in millions) | Line Item | Amount | | :--- | :--- | | Net Loss | $(20.7) | | Adjustments (Marked-to-market gain, debt extinguishment, etc.) | $4.8 | | **Adjusted Net Loss** | **$(15.9)** | [Company Information & Forward-Looking Statements](index=6&type=section&id=Company%20Information%20%26%20Forward-Looking%20Statements) AMC is the world's largest movie exhibitor and provides cautionary notes regarding future performance risks - AMC is the **largest movie exhibition company** in the U.S., Europe, and worldwide, with approximately 880 theatres and 9,800 screens[17](index=17&type=chunk) - The company cautions that forward-looking statements regarding revenue, EBITDA, and recovery are **subject to significant risks**, including liquidity concerns, debt covenants, competition, and the performance of motion picture production[19](index=19&type=chunk)

AMC Entertainment Holdings Inc AMC is set to report third-quarter earnings Wednesday. Wall Street expects AMC to report a loss of 11 cents per share for the quarter and $1.33 billion in revenues when the company reports after market hours.The stock is down 59.91% over the last year and 28.15% year to date.Let’s look at what the charts indicate for AMC stock and how the stock maps against Wall Street estimates.Read Also: AMC Survival Against Challenging Sector Brings Magic Comparison: ‘Harry Houdini Works At ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

AMC Entertainment Holdings, Inc. (AMC) is scheduled to report third-quarter 2024 results on Nov. 6, after market close. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 330%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.AMC’s Q3 EstimatesThe Zacks Consensus Estimate has narrowed to a loss of 7 cents per share from a loss of 9 cents in the past 30 days. In the prior-year quarter, the company incurred a loss of 9 cents.The consensus mark for ...