RE: Re.Cine2 Mar 2023 17:48
AMC recorded a loss of $973.6 million, or 93 cents a share, on sales of $3.91 billion.
See Now: AMC stock keeps rallying after popcorn collaboration with Walmart announced ahead of earnings
The company’s stock initially gained in after-hours trading Tuesday following the release of the results, but then fell about 6% in the extended session. Shares of the meme-stock darling closed regular trading with a 6.2% decline at $7.14, and have fallen 38.4% in the past 12 months. The stock hit a 52-week high of $21.09 on March 29, 2022.
“With more major movies coming in 2023, we are highly confident that our multiyear recovery will continue to show considerable progress this year,” Chief Executive Adam Aron said in a statement. “But we cannot stress enough how crucial it is that for AMC to remain viable, we must continue to be agile and nimble not only in running our business day to day, but also in our continued raising of cash and decreasing the debt load on AMC Entertainment.”
AMC executives did not provide a financial forecast, though Aron noted that “the first-quarter domestic box office already has posted an impressive 44% increase over 2022,” while admitting again that “the industrywide box office will not return to prepandemic norms before 2024 or 2025 at the earliest.”
“At AMC, we’re all smiles today, but by no means are we out of the woods yet,” said Aron, during a conference call to discuss the results. “We will need to remain smart and action-oriented to successfully chart our way through what are still COVID-impacted waters.”
credit going out ta an ADVFN poster
but just goes to show how long covid has effected the very core of our large business
institution, and it's not shareholders fault to be left dormant while some CNT Swan off
with what little proceed we have left. @ 2.50p
I'M SURE THE JUDGE WILL TAKE THE covid 19 lockdown into consideration
to give us more time to pay off our debt, after looking at AMC figures and how it
effect them, who now'' have a 47% increase in revenue to $3.4b
GLA whatever news we get, but 1 positive is that they are going to need our shares
with only 1.3b in issue they are going to need votes, thats why MR WHITE keep talking
about the discord group is looking to take 11% while SP is still cheap to get a seat at the table
and i think everyone should join it ASAP
WE ALL COULD DO WITH A BIG SHAREHOLDERS BASE ON OUR SIDE
to press for equity no matter what happens
ATB