AMC Entertainment Holdings, Inc. (NYSE: AMC) reported on Monday its preliminary results for Q4 2021, earning US$1.17 billion in revenue. This is an increase from Q4 2020’s revenue of US$162.5 million.
“AMC’s 2021 results improved significantly as the year progressed, and we finished the year with the strongest quarter in two years,” said CEO Adam Aron.
Further, the company estimates a quarterly net loss of US$114.8 – US$194.8 million which is dependent on non-cash impairment charges related to long-lived assets. This compares to a US$946.1 million net loss last year.
Sponsored · Selkirk Copper Mines
Calibrating for financial items, adjusted EBITDA is expected to be at US$146.8 million – US$151.8 million, compared to a negative balance of US$327.5 million for last year.
Fourth quarter is also the first time in the year the firm generated net cash provided by operating activities, amounting to US$46.5 million. This also led to notch operating cash generated in the amount of US$216.5 million compared to cash burn of US$31.2 million last quarter.
The company also ended the quarter with US$1.59 billion in cash and cash equivalents.
AMC Entertainment last traded at US$16.06 on the NYSE.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
The Economy That Cried Wolf (Of Wall Street)
(title card concept stolen from Martin Scorsese and Jesse Hawken) This past March, when the...