The stock market is starting to lose steam. After a record run, equities have turned sharply lower over the past few weeks.The reasons are various including geopolitical worries, a financial shock in Japan, changes in the U.S. presidential election race and uncertainty around interest rate policy. Regardless of the precise cause, market volatility has soared and traders are dialing back risk.This makes it a great time to take a fresh look at one’s more speculative holdings, such as in meme stocks. These thr ...

While it wasn’t quite the dramatic setbacks of Paramount Global and Warner Bros. Discovery this week, AMC Networks posted second-quarter financial results illustrating the perils of operating linear TV networks. The company’s earnings were down significantly from the prior-year quarter and below Wall Street estimates. The programmer reported adjusted earnings per share of $1.24, down from $2.02 and below analysts’ consensus outlook for $1.52. Revenue beat estimates but fell 8% to $626 million. In its earn ...

NEW YORK, Aug. 09, 2024 (GLOBE NEWSWIRE) -- AMC Networks Inc. ("AMC Networks" or the "Company") (NASDAQ: AMCX) today reported financial results for the second quarter ended June 30, 2024. Chief Executive Officer Kristin Dolan said: "AMC Networks continues to find opportunities in a strategic plan built around programming, partnerships and profitability. Key to our plan is the creation and curation of celebrated films and series, and making them available to audiences everywhere, including through an excitin ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

AMC Entertainment (AMC) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this movie theater operator have returned -9.5%, compared to the Zacks S&P 500 composite's -6.7% change. During this period, the Zacks Leisure and Recreation Services industry, which AMC Entertainment falls in, has lost 11.2%. The key question now is: What could be the stock's future ...

AMC Entertainment Holdings, Inc. (NYSE:AMC) Q2 2024 Results Conference Call August 2, 2024 5:00 PM ET Company Participants John Merriwether - Vice President, Capital Markets and Investor Relations Adam Aron - Chairman and Chief Executive Officer Sean Goodman - Executive Vice President and Chief Financial Officer Conference Call Participants Eric Wold - B. Riley Securities Chad Beynon - Macquarie Jason Bazinet - Citi Jim Goss - Barrington Research Alicia Reese - Wedbush Operator Greetings and welcome to the ...

AMC Entertainment (AMC) reported $1.03 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 23.5%. EPS of -$0.43 for the same period compares to $0.00 a year ago.The reported revenue represents no surprise over the Zacks Consensus Estimate of $1.03 billion. With the consensus EPS estimate being -$0.10, the EPS surprise was -330.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...

AMC Entertainment (AMC) came out with a quarterly loss of $0.43 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -330%. A quarter ago, it was expected that this movie theater operator would post a loss of $0.62 per share when it actually produced a loss of $0.78, delivering a surprise of -25.81%.Over the last four quarters, th ...

Top exhibitor AMC Entertainment posted a loss of 10 cents a share and saw revenue slide 24% in the second quarter due to the strike-hit movie pipeline. Though they may have been shaky, however, the financials matched Wall Street analysts’ estimates and shares in AMC gained ground in after-hours trading. The loss compared with a profit of 6 cents a share in the same period a year ago, while the revenue figure of $1.03 billion was down from $1.348 billion in the 2023 quarter. CEO Adam Aron, the pre-eminent c ...

Theatre Operations - As of June 30, 2024, the company operated 886 theatres and 9,889 screens across 11 countries in the U.S. and Europe[165] - As of June 30, 2024, AMC had approximately 33 million member households enrolled in its loyalty programs, representing about 48.9% of U.S. market attendance[171] - The number of IMAX® theatres remained stable at 183 in the U.S. as of June 30, 2024, with a total of 216 IMAX® theatres globally[170] - The company operated 554 theatres in the U.S. markets, down from 569 theatres in the previous year, a decrease of 2.6%[189] - The number of screens operated in the U.S. markets was 7,262 as of June 30, 2024, compared to 7,432 in the same period of 2023, indicating a slight reduction[1] Revenue Sources and Performance - The primary revenue sources are box office admissions and food and beverage sales, with box office admissions being the largest revenue contributor[165] - Total revenues for the three months ended June 30, 2024, were $1,030.6 million, a decrease of 23.5% compared to $1,347.9 million for the same period in 2023[186] - Admissions revenue decreased by 24.1% to $564.4 million from $744.1 million year-over-year[186] - The company experienced a significant decrease in food and beverage revenue, down 24.8% to $367.1 million from $488.2 million year-over-year[186] - Total revenues for the U.S. markets decreased to $1,505.0 million in the six months ended June 30, 2024, down from $1,791.9 million in the same period of 2023, representing a decline of approximately 16%[1] Attendance Trends - Future attendance and revenue levels are uncertain due to potential changes in movie studio release schedules and consumer behavior, particularly following labor strikes in 2023[159] - Attendance decreased to 50,013 thousand from 66,368 thousand year-over-year[187] - Attendance in U.S. markets decreased to 36,493 thousand from 50,023 thousand in the prior year, a drop of 27.0%[189] - Attendance in the U.S. markets decreased to 66,983 thousand in the six months ended June 30, 2024, compared to 82,385 thousand in the same period of 2023, indicating a decline of approximately 19%[1] Financial Losses and Costs - Operating income for the three months ended June 30, 2024, was a loss of $47.4 million, compared to an income of $84.8 million for the same period in 2023[186] - Net earnings for the three months ended June 30, 2024, were a loss of $32.8 million, compared to a profit of $8.6 million in the same period of 2023[186] - The net loss for the U.S. markets was $(142.5) million for the six months ended June 30, 2024, compared to a net loss of $(188.7) million in the same period of 2023[1] - Net loss was $(32.8) million for the three months ended June 30, 2024, compared to net earnings of $8.6 million for the same period in 2023[216] Debt and Financing - There are risks associated with significant indebtedness, including the potential for dilution of common stock due to future share issuances[161] - The company raised gross proceeds of $250 million through the issuance of approximately 72.5 million shares of Common Stock during the six months ended June 30, 2024[176] - AMC executed a debt for equity exchange, extinguishing $191.4 million in Second Lien Notes due 2026, resulting in a gain of $91.1 million[175] - The company completed refinancing transactions on July 22, 2024, extending the maturities of approximately $1.6 billion of debt to 2029 and 2030[273] Operational Efficiency - The company is exploring strategic initiatives to optimize its theatre circuit, including new constructions and transformations of existing theatres[162] - The company plans to focus on market expansion and new product development to drive future growth[189] - Operating costs and expenses for the three months ended June 30, 2024, were $1,078.0 million, a decrease of 14.7% compared to $1,263.1 million in the same period of 2023[186] - Operating costs and expenses decreased by $185.1 million, or 14.7%, during the three months ended June 30, 2024[208] Market Challenges - The company faces significant risks related to the recovery of North American and international box office revenues, which may not meet pre-COVID-19 levels, impacting liquidity and operational cash flow[159] - The impact of changing distribution practices and the rise of streaming platforms may further challenge traditional box office revenues[161] - North American box office grosses were down approximately 36% for the six months ended June 30, 2024, compared to the same period in 2019, indicating a significant impact on revenue generation[276] Cash Flow and Capital Expenditures - The company reported a net cash flow used in operating activities of $222.9 million for the six months ended June 30, 2024, compared to $203.3 million for the same period in 2023, primarily due to a decline in attendance[279] - Capital expenditures for the six months ended June 30, 2024, were $95.1 million, slightly lower than $96.0 million for the same period in 2023[280] - The company estimates capital expenditures for the year ending December 31, 2024, to be approximately $175 million to $225 million to maintain and enhance operations[281]