Wicked,’ ‘Moana 2’ and Other Holiday Hits Lift AMC Theatres Quarterly Earnings, Losses Shrink to $135.6 Million
By Brent Lang
According To The variety Wicked,” “Moana 2” and holiday hits like “Mufasa: The Lion King” lifted quarterly earnings at AMC Entertainment.
Revenues at the world’s largest movie chain hit $1.3 billion, up more than 15% from the $1.1 billion that it reported in the year-ago period. Losses at AMC narrowed from $182 million in the prior-year period to $135.6 million in the most recent quarter. There was a diluted loss per-share of 18 cents compared to a loss of 54 cents in the year-ago period. Adjusted earnings before interest, taxes, depreciation and amortization more than tripled from $49.9 million to $164.8 million.
AMC’s quarterly losses included a non-cash impairment charge of $106.9 million, which it said stemmed from “long-lived assets.”
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