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AMC Entertainment | 10-Q: Q2 2024 Earnings Report

AMC Entertainment | 10-Q: Q2 2024 Earnings Report

AMC院线 | 10-Q：2024财年二季报
美股SEC公告 ·  2024/08/02 22:28

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AMC Entertainment reported Q2 2024 revenues of $1.03 billion, down 23.5% from $1.35 billion in Q2 2023, primarily due to a 24.6% decline in attendance to 50.0 million patrons. The decline was largely attributed to the impact of 2023 Hollywood labor strikes on film releases. The company posted a net loss of $32.8 million compared to net earnings of $8.6 million in Q2 2023.Operating costs decreased 14.7% to $1.08 billion, with film exhibition costs down 28.9% to $272.3 million. Food and beverage revenue fell 24.8% to $367.1 million, though per-patron spending remained relatively stable at $7.34. The company recorded gains of $91.1 million from debt extinguishment and $19.1 million from litigation recoveries during the quarter.As of June 30, 2024, AMC had cash and cash equivalents of $770.3 million. The company completed significant debt refinancing in July 2024, extending approximately $1.6 billion of debt maturities to 2029 and 2030. Management believes existing cash and operating cash flows will be sufficient to fund operations through the next 12 months, though noting current cash burn rates are not sustainable long-term without revenue recovery to pre-COVID levels.
AMC Entertainment reported Q2 2024 revenues of $1.03 billion, down 23.5% from $1.35 billion in Q2 2023, primarily due to a 24.6% decline in attendance to 50.0 million patrons. The decline was largely attributed to the impact of 2023 Hollywood labor strikes on film releases. The company posted a net loss of $32.8 million compared to net earnings of $8.6 million in Q2 2023.Operating costs decreased 14.7% to $1.08 billion, with film exhibition costs down 28.9% to $272.3 million. Food and beverage revenue fell 24.8% to $367.1 million, though per-patron spending remained relatively stable at $7.34. The company recorded gains of $91.1 million from debt extinguishment and $19.1 million from litigation recoveries during the quarter.As of June 30, 2024, AMC had cash and cash equivalents of $770.3 million. The company completed significant debt refinancing in July 2024, extending approximately $1.6 billion of debt maturities to 2029 and 2030. Management believes existing cash and operating cash flows will be sufficient to fund operations through the next 12 months, though noting current cash burn rates are not sustainable long-term without revenue recovery to pre-COVID levels.
AMC院线报告了2024年第二季度营业收入为10.3亿，较2023年第二季度的13.5亿下降了23.5%，主要是由于观众人数下降了24.6%至5000万。这一下降主要归因于2023年好莱坞劳工罢工对影片上映的影响。公司在本季度录得净亏损3280万，而在2023年第二季度录得净盈利860万。运营成本减少了14.7%，降至10.8亿，电影放映成本下降28.9%，降至27230万。食品和饮料的营业收入下降了24.8%，降至36710万，尽管每位顾客的消费保持在相对稳定的7.34美元。公司在本季度记录了9110万的债务注销收益和1910万的诉讼回收收益。截至2024年6月30日，AMC拥有现金及现金等价物77030万。公司在2024年7月完成了重要的再融资，将约16亿的债务到期延长至2029年和2030年。管理层相信现有的现金及运营现金流足以支持未来12个月的运营，尽管注意到当前的现金消耗率在没有营业收入恢复到疫情前水平的情况下不可持续。
AMC院线报告了2024年第二季度营业收入为10.3亿，较2023年第二季度的13.5亿下降了23.5%，主要是由于观众人数下降了24.6%至5000万。这一下降主要归因于2023年好莱坞劳工罢工对影片上映的影响。公司在本季度录得净亏损3280万，而在2023年第二季度录得净盈利860万。运营成本减少了14.7%，降至10.8亿，电影放映成本下降28.9%，降至27230万。食品和饮料的营业收入下降了24.8%，降至36710万，尽管每位顾客的消费保持在相对稳定的7.34美元。公司在本季度记录了9110万的债务注销收益和1910万的诉讼回收收益。截至2024年6月30日，AMC拥有现金及现金等价物77030万。公司在2024年7月完成了重要的再融资，将约16亿的债务到期延长至2029年和2030年。管理层相信现有的现金及运营现金流足以支持未来12个月的运营，尽管注意到当前的现金消耗率在没有营业收入恢复到疫情前水平的情况下不可持续。
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