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AMC Entertainment (AMC) Q4 Earnings and Revenues Top Estimates
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AMC Entertainment Holdings, Inc. (AMC - Free Report) reported fourth-quarter 2023 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Both the top and bottom lines surpassed the consensus estimate for the sixth straight quarter and improved year over year.
Earnings & Revenues
The company reported adjusted loss per share of 54 cents, narrower than the Zacks Consensus Estimate of a loss of 70 cents. In the prior year quarter, the company reported adjusted loss per share of $1.40. The company reported adjusted net loss of $118.6 million, an improvement of $34.3 million compared with 2022.
Total revenues of $1,104.4 million experienced growth of 11.5% from $990.9 million in 2022 and surpassed the Zacks Consensus Estimate of $1,064 million.
AMC reported admission revenues of $614.6 million, compared with $561.3 million in the prior-year quarter. Food and beverage as well as other theatre registered revenues of $370.2 million and $119.6 million, up from $331.2 million and $98.4 million, respectively.
AMC Entertainment Holdings, Inc. Price, Consensus and EPS Surprise
AMC Entertainment reported attendance of 51,920,000, up 4.7% year over year. It recorded U.S. markets and international markets attendance of 35,469,000 and 16,451,000, up 5.1% and 3.9% year over year, respectively. Non-GAAP consolidated EBITDA was $42.5 million compared with $14.5 million in the prior-year quarter.
Cash Flow & Liquidity
In the fourth quarter, the company used $77.8 million of cash in operating activities compared with $33.3 million in the prior-year quarter. As of Dec 31, 2023, it had $884.3 million of cash and cash equivalents compared with $631.5 million as of Dec 31, 2022.
AMC Entertainment currently carries a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks in the Zacks Consumer Discretionary sector are presented below.
Trip.com Group Limited (TCOM - Free Report) currently sports a Zacks Rank #1 (Strong Buy). TCOM has a trailing four-quarter earnings surprise of 199.4%, on average. Shares of TCOM have increased 17.5% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TCOM’s 2024 sales and EPS indicates a rise of 17.7% and 18%, respectively, from the year-ago levels.
H World Group Limited (HTHT - Free Report) currently carries a Zacks Rank of 2. It has a trailing four-quarter earnings surprise of 94.5%, on average. The stock has fallen 24.8% in the past year.
The Zacks Consensus Estimate for HTHT’s 2024 sales and EPS indicates an improvement of 7.2% and 7.1%, respectively, from the year-earlier actuals.
Carnival Corporation & plc (CCL - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 19.2%, on average. The stock has risen 46.1% in the past year.
The Zacks Consensus Estimate for CCL’s 2024 sales indicates a rise of 13.8% from the prior-year levels.
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AMC Entertainment (AMC) Q4 Earnings and Revenues Top Estimates
AMC Entertainment Holdings, Inc. (AMC - Free Report) reported fourth-quarter 2023 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Both the top and bottom lines surpassed the consensus estimate for the sixth straight quarter and improved year over year.
Earnings & Revenues
The company reported adjusted loss per share of 54 cents, narrower than the Zacks Consensus Estimate of a loss of 70 cents. In the prior year quarter, the company reported adjusted loss per share of $1.40. The company reported adjusted net loss of $118.6 million, an improvement of $34.3 million compared with 2022.
Total revenues of $1,104.4 million experienced growth of 11.5% from $990.9 million in 2022 and surpassed the Zacks Consensus Estimate of $1,064 million.
AMC reported admission revenues of $614.6 million, compared with $561.3 million in the prior-year quarter. Food and beverage as well as other theatre registered revenues of $370.2 million and $119.6 million, up from $331.2 million and $98.4 million, respectively.
AMC Entertainment Holdings, Inc. Price, Consensus and EPS Surprise
AMC Entertainment Holdings, Inc. price-consensus-eps-surprise-chart | AMC Entertainment Holdings, Inc. Quote
Other Details
AMC Entertainment reported attendance of 51,920,000, up 4.7% year over year. It recorded U.S. markets and international markets attendance of 35,469,000 and 16,451,000, up 5.1% and 3.9% year over year, respectively.
Non-GAAP consolidated EBITDA was $42.5 million compared with $14.5 million in the prior-year quarter.
Cash Flow & Liquidity
In the fourth quarter, the company used $77.8 million of cash in operating activities compared with $33.3 million in the prior-year quarter. As of Dec 31, 2023, it had $884.3 million of cash and cash equivalents compared with $631.5 million as of Dec 31, 2022.
AMC Entertainment currently carries a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks in the Zacks Consumer Discretionary sector are presented below.
Trip.com Group Limited (TCOM - Free Report) currently sports a Zacks Rank #1 (Strong Buy). TCOM has a trailing four-quarter earnings surprise of 199.4%, on average. Shares of TCOM have increased 17.5% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TCOM’s 2024 sales and EPS indicates a rise of 17.7% and 18%, respectively, from the year-ago levels.
H World Group Limited (HTHT - Free Report) currently carries a Zacks Rank of 2. It has a trailing four-quarter earnings surprise of 94.5%, on average. The stock has fallen 24.8% in the past year.
The Zacks Consensus Estimate for HTHT’s 2024 sales and EPS indicates an improvement of 7.2% and 7.1%, respectively, from the year-earlier actuals.
Carnival Corporation & plc (CCL - Free Report) carries a Zacks Rank #2. It has a trailing four-quarter earnings surprise of 19.2%, on average. The stock has risen 46.1% in the past year.
The Zacks Consensus Estimate for CCL’s 2024 sales indicates a rise of 13.8% from the prior-year levels.