According to AMC Entertainment’s latest reports the company’s current total Revenue as of last is around $3.88 billion dollars. AMC Entertainment’s total revenue is going to be a very important metric when it comes to how this fiscal year turns out.
In 2021 according to AMC’s reports the company earned $2.52 billion which is already much less than what AMC has brought in so far this year.
The movie theater industry was hit very hard during the lockdowns in 2020 and beyond, and some other movie theater chains were not so lucky to bounce back. “The British-based cinema group Cineworld has filed for Chapter 11 bankruptcy protection in the United States as it continues to fight a dramatic drop in earnings and empty theatres. Last month, the firm which is the world’s second largest cinema chain, reported its stock had crashed by more than 60 percent” (Source: Euronews.com)
AMC DEBT TO BE PAID OFF
AMC Stock CEO Adam Aron dropped a bombshell of a tweet Saturday October 15th. Adam Aron tweeted “Yesterday AMC took a VERY important step. Our new APE preferred units gave us the confidence to pay off $106 million of debt. Took on $400 million of new debt due 2027, replacing $506 million due in 2023. Reducing debt and extending maturities is vital.”
With Adam Aron and AMC addressing this debt and paying a major piece of it off and refinancing the rest puts AMC in a stronger position moving forward and should likely give shareholders known as the APES the confidence they need to keep holding.