AMC Entertainment Anticipates Q1 Sales Of $148 Million Vs $941 Million A Year Ago; Scraps Stockholder Vote On Share Sale

deadline.com:

AMC Entertainment offered a preview of its quarterly earnings Tuesday, anticipating revenue for the three months ended in March of $148 million, way down from $941.5 million the year before as the box office struggled to revive amid the global pandemic.AMC expects to announce a net loss of between $572 million and $567 million.

It’s earnings season now but the theater chain hasn’t yet set a date for its quarterly financials.It revealed the numbers in an SEC filing where it also announced plans to sell up to 43 million share in a so-called “at the market” offering.

That would be instead of previous plans to authorize the sale of up to 500 new shares. It withdrew that proposal, which would have resulted in a major stock overhang, “upon review