AMC’s Fundamentals
AMC exceeded expectations in Q1 with adjusted EPS beating estimates by 3 cents. The company also achieved revenue of $954.4 million, surpassing analysts’ estimates by $16.20 million and showing a 21.5% YoY growth.
AMC’s standout in the earnings report was its food and beverage revenue, which saw a 30% year-over-year growth. The company achieved consecutive quarter-over-quarter growth in EBITDA.
AMC’s Q1 EBITDA rose by $69 million to reach $7 million, a significant improvement compared to the $62 million loss in the same period last year. Following the earnings announcement on May 5, AMC shares experienced a pre-market trading surge of approximately 4%.
AMC’s Q1 revenue benefited from increased movie releases. In Q1 2023, 35 films grossed over $5 million domestically, a 34% YoY increase.
This marks the best first-quarter box-office performance since the start of the pandemic. It is 72% of Q1 2019 levels, a notable improvement from last year’s 50% figure. $AMC Entertainment(AMC.US$ $AMC Preferred Equity Unit(APE.US$
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MedroMan : And this should get better if they take control of their own candy….can’t wait until numbers for Walmart sales.