AMC Entertainment Saw Q1 Sales Jump, Losses Narrow; CEO Says Ability To Raise Capital Will Be “Crucial Component” Of Success
deadline.comGiant theater chain AMC Entertainment saw sales blow past Wall Street forecasts for the March quarter, rising 20% to $954 million.
Losses narrowed by $102 million to $235 million, for an adjusted EPS of 17 cents a share, a also ahead of expectations. Shares popped higher this morning on the numbers. “It will take a few more years for the industry box office to return near to pre-pandemic levels, and our ability to raise additional capital during this extended recovery period will be a crucial component of our success.
We will continue our fight to preserve our agility and to remain on our recovery trajectory, as we work hard to position AMC for long-term success,” said CEO Adam Aron.
A hearing set for late June in Delaware Chancery Court may determine if and when AMC will have that ability to sell shares and raise cash.
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