AMC Q4 2023 Earnings - What went Well plus Challenges Ahead!

AMC Q4 2023 Earnings - What went Well plus Challenges Ahead! AMC Entertainment Holdings, Inc. (NYSE: AMC) reported on Feb 28, 2023 results for the fourth quarter and year ended December 31, 2023.
AMC Full Year 2023 Summary • Total revenues grew 23% to $4,812.6 million compared to $3,911.4 million for 2022. • Net loss improved $577.0 million to $396.6 million, including a non-cash impairment charge related to long-lived assets of $106.9 million, compared to a net loss of $973.6 million for 2022, which included a non-cash impairment charge related to long-lived assets of $133.1 million. • Adjusted net loss was $318.8 million, an improvement of $409.1 million compared to 2022. • Net loss per diluted share was $2.37 compared to $9.29 for 2022, an improvement of $6.92. • Adjusted net loss per diluted share was $1.90 compared to $6.95 for 2022, an improvement of $5.05. • Adjusted EBITDA was $425.8 million, an increase of $379.2 million compared to 2022. • Net cash used in operating activities was $215.2 million, an improvement of $413.3 million compared to 2022. • Non-GAAP Operating Cash Generated (Burn)1 was $68.3 million, an improvement of $361.9 million compared to 2022.
AMC Fourth Quarter Summary • Total revenues grew 11.5% to $1,104.4 million compared to $990.9 million for 2022. • Net loss improved to $182.0 million, including a non-cash impairment charge related to long-lived assets of $106.9 million, compared to a net loss of $287.7 million for 2022, which included a non-cash impairment charge related to long-lived assets of $133.1 million. • Adjusted net loss was $118.6 million, an improvement of $34.3 million compared to 2022. • Net loss per diluted share was $0.83 compared to $2.64 for 2022, an improvement of $1.81. • Adjusted net loss per diluted share was $0.54 compared to $1.40 for 2022, an improvement of $0.86. • Adjusted EBITDA increased 193% to $42.5 million compared to $14.5 million for 2022. • Net cash used in operating activities was $77.8 million. • Non-GAAP Operating Cash Generated (Burn)1 was $(0.8) million. • Cash and cash equivalents at December 31, 2023 was $884.3 million#tonydenaro #AMC #Q32023Earnings



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[anyat]

Very professional! Thanks for explaining the Odeon connection and the change in accounting procedures.

[cancelbubble]

Also of note and per the earnings call, amc closed 9 under performing locations in Q4 (total of closing 165 locations since the pandemic began). They also added 2 "high performing" theaters in Q4 (total of adding 59 new locations). So amc has made a net reduction of 106 locations, roughly 10% of their locations.

[jaredaleman]

Thanks for the update! To the fuggin moon!!

[TechWeLove]

Excellent information. I appreciate it Tony.

[donknotts]

Thanks very much, Tony. I deeply appreciate your fact-based opinionated analysis of AMC!

[sparkybuchta]

I don’t think amc goes bk any time soon. But think another billion in dilution is coming .. just a matter of how many shares that will end up being vs current float - love your honest assessment Tony 👍

[calebunderhill]

Great video and as always appreciate your honesty.

By the way AnchorDown! You may not be a college baseball follower, but you're repping Texas Longhorns. Heck of a game but my Vandyboys came through with the win. See you in the next one

[Ice_Dylan]

Hi Tony, I love your every analysis!
Just wanted to get your thoughts about the impacts of AI (eg Sora) on movie industry. I believe there will be tons of new movies released in near future if AI tools are utilized for movie production.

[liquidminds]

Thanks for pointing out the minimum liquidity requirements by the lenders. So many attack AMC for raising money, who aren't even aware that the 100m$ liquidity requirement existed.

[IanFleming]

I remember buying more shares the day before the RS cutoff and thought this thing with 1000% cost to borrow and being on the NYSE threshold list for OVER 50 DAYS for all of July and into August was enough yet the BS never stops.

[RhinoRobwps]

i recently been to an amc to see dune 2 and it was nice, however there are no big movies coming out that will pull amc out of this. Even if a big movie does happen to come theatrical release is only getting shorter so less time for them to profit from that bigger movie before it hits streaming services online.
If AMC wasnt loaded with bad debt and bad management like AA. They have built poison pills into the company so even if management does get replaced the stock still dies.

[Jay-anti-dad-bod]

Like my post if you feel like a testical for holding amc 3 years and losing all our moneh

[smallrossy]

do you use complex formulas from your Economics days, or did you just google them?

[justbehappyalways]

So why did he do reverse split ? What was the motive of his untimely tweets when the stock price was going up

[doctorzeno]

Thanks Tony, appreciate your excellent continued coverage on this, despite all the dumbasses out there who don't know their own ass from a cactus in the dirt 🤣🤣🤣🤣