AMC Reports Preliminary Q2 2024 Results, Cites Impact of Strikes

👉 Key Highlights:
📍 Total revenues for Q2 2024: $1,030.6 million vs. $1,347.9 million in Q2 2023.
📍 Net loss for Q2 2024: $32.8 million vs. net earnings of $8.6 million in Q2 2023.
📍 Diluted loss per share: $(0.10) vs. earnings per share of $0.06 in Q2 2023.
📍 Adjusted EBITDA: $29.4 million vs. $182.5 million in Q2 2023.
📍 Cash and cash equivalents: $770.3 million as of June 30, 2024.
📍 Strikes in 2023 reduced early 2024 theatrical releases, impacting results.
📍 June 2024 daily revenues improved significantly over April and May.
📍 Positive box office performance continued into July 2024.