AMC Entertainment reported earnings today after the market closed and the results might be better than expected for most investors.
According to the press release from AMC Entertainment here is the Third quarter summary in full:
• Total revenues grew to $968.4 million compared to $763.2 million for the third quarter of 2021.
• Net loss increased to $226.9 million compared to a net loss of $224.2 million for the third quarter of 2021.
• Adjusted EBITDA decreased by $7.5 million to a loss of $12.9 million compared to a loss of $5.4 million for the third quarter of 2021.
• Net cash used in operating activities for the quarter was $(223.6) million.
• Operating Cash Burn1
for the quarter was $(179.2) million.
• Available liquidity at September 30, 2022 was $895.8 million, including $211.2 million of undrawn capacity under the Company’s revolving credit facility
With better-than-expected earnings from AMC for Q3, forward looking investors are already eager to see how things shape up for Q4 earnings. As time goes on, AMC seems to be refusing to give up, and the company is rebuilding in an impressive fashion so far this year.