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AMC Entertainment (AMC) Beats on Q4 Earnings and Revenues
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AMC Entertainment Holdings Inc. (AMC - Free Report) reported strong financial results in the fourth quarter of 2016 wherein both the top line and the bottom line outpaced the Zacks Consensus Estimate.
GAAP net income was $33.2 million or 33 cents per share compared with $41.6 million or 42 cents per share in the prior-year quarter. Fourth-quarter adjusted earnings per share of 37 cents exceeded the Zacks Consensus Estimate of 34 cents.
Quarterly total revenue was $926.1 million, up 18.1% year over year surpassing the Zacks Consensus Estimate of $911.5 million. Segment wise, Admission revenues were $588.9 million, up 18.1% year over year. Food and beverage revenues were $282.5 million, up 16.6% year over year. Other theater revenues were $54.7 million, up 27.6% year over year.
Quarterly operating expenses were $886.6 million, up 25.1% year over year. Operating income was $39.5 million, plunging 47.6% year over year. Operating margin decreased to 4.3% from 9.6% in the year-ago quarter. Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was $188.6 million, advancing 22.2% year over year. Adjusted EBITDA margin was 20.4% compared with 19.7% in the year-ago quarter.
Cash Flow
In the fourth quarter of 2016, AMC Entertainment generated $220.3 million of cash from operations compared with $258.3 million in the year-ago quarter. Free cash flow in the reported quarter was $55.2 million compared with $140.5 million in the prior-year quarter.
Liquidity
At the end of 2016, AMC Entertainment had $207.1 million of cash and cash equivalents and $3,761 million of outstanding debt compared with $211.3 million of cash and cash equivalents and $1,912.8 million of outstanding debt at the end of 2015. The debt-to-capitalization ratio, at 2016 end, was 0.65 compared with 0.55 at the end of 2015.
Operating Metrics
Average screens of AMC Networks were 6,516, up a substantial 30.6% year over year. Number of screens operated was 10,558, up a whopping 94.6% year over year. Number of theatres operated was 906, up an astonishing 134.1% year over year. In the reported quarter, Screens per theatre were 11.7 compared with 14 in the prior-year quarter.
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AMC Entertainment (AMC) Beats on Q4 Earnings and Revenues
AMC Entertainment Holdings Inc. (AMC - Free Report) reported strong financial results in the fourth quarter of 2016 wherein both the top line and the bottom line outpaced the Zacks Consensus Estimate.
GAAP net income was $33.2 million or 33 cents per share compared with $41.6 million or 42 cents per share in the prior-year quarter. Fourth-quarter adjusted earnings per share of 37 cents exceeded the Zacks Consensus Estimate of 34 cents.
Quarterly total revenue was $926.1 million, up 18.1% year over year surpassing the Zacks Consensus Estimate of $911.5 million. Segment wise, Admission revenues were $588.9 million, up 18.1% year over year. Food and beverage revenues were $282.5 million, up 16.6% year over year. Other theater revenues were $54.7 million, up 27.6% year over year.
Quarterly operating expenses were $886.6 million, up 25.1% year over year. Operating income was $39.5 million, plunging 47.6% year over year. Operating margin decreased to 4.3% from 9.6% in the year-ago quarter. Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was $188.6 million, advancing 22.2% year over year. Adjusted EBITDA margin was 20.4% compared with 19.7% in the year-ago quarter.
Cash Flow
In the fourth quarter of 2016, AMC Entertainment generated $220.3 million of cash from operations compared with $258.3 million in the year-ago quarter. Free cash flow in the reported quarter was $55.2 million compared with $140.5 million in the prior-year quarter.
Liquidity
At the end of 2016, AMC Entertainment had $207.1 million of cash and cash equivalents and $3,761 million of outstanding debt compared with $211.3 million of cash and cash equivalents and $1,912.8 million of outstanding debt at the end of 2015. The debt-to-capitalization ratio, at 2016 end, was 0.65 compared with 0.55 at the end of 2015.
Operating Metrics
Average screens of AMC Networks were 6,516, up a substantial 30.6% year over year. Number of screens operated was 10,558, up a whopping 94.6% year over year. Number of theatres operated was 906, up an astonishing 134.1% year over year. In the reported quarter, Screens per theatre were 11.7 compared with 14 in the prior-year quarter.
AMC Entertainment currently carries a Zacks Rank #5 (Strong Sell). The company competes with Cinemark Holdings Inc. (CNK - Free Report) , Live Nation Entertainment Inc. (LYV - Free Report) and Regal Entertainment Group . All three stocks mentioned above currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMC Entertainment Holdings, Inc. Price, Consensus and EPS Surprise
AMC Entertainment Holdings, Inc. Price, Consensus and EPS Surprise | AMC Entertainment Holdings, Inc. Quote
Everything You Need to Know About Snapchat BEFORE It Goes Public
You may be curious about the buzz surrounding Snap Inc.'s IPO on March 2. With the company expected to be valued around $22 billion, it is expected to be the largest IPO since 2014. But should you snap up this tech stock on Day 1?
In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges. You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months.
Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>