We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AMC Entertainment (AMC) Beats on Q1 Earnings and Revenues
Read MoreHide Full Article
AMC Entertainment Holdings Inc. (AMC - Free Report) reported strong financial results in the first quarter of 2017 wherein both the top line and the bottom line outpaced the Zacks Consensus Estimate.
First-quarter adjusted earnings per share came in at 29 cents against the Zacks Consensus Estimate of a loss of 8 cents per share. However, GAAP net income was $8.4 million or 7 cents per share compared with $28.3 million or 29 cents per share in the prior-year quarter.
Quarterly total revenue was $1,283.4 million, up a significant 67.5% year over year surpassing the Zacks Consensus Estimate of $1,263 million. Segment wise, Admission revenues were $817.3 million, up substantially 69.4% year over year. Food and beverage revenues were $397.9 million, up a whopping 63% year over year. Other theater revenues were $68.2 million, soaring 73.5% year over year.
Quarterly operating expenses were $1,228 million, up 73.8% year over year. Operating income was $55.4 million, down 6.6% year over year. Operating margin decreased to 4.3% from 7.7% in the year-ago quarter. Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was $251.3 million, advancing 71.5% year over year. Adjusted EBITDA margin was 19.6% compared with 19.1% in the year-ago quarter.
Cash Flow
In the first quarter of 2017, AMC Entertainment generated $166 million of cash from operations compared with $22.9 million in the year-ago quarter. Free cash flow in the reported quarter was $4.7 million compared with a negative $34.8 million in the prior-year quarter.
Liquidity
At the end of the first quarter of 2017, AMC Entertainment had $313.1 million of cash and cash equivalents and $3,195.2 million of outstanding debt compared with $207.1 million of cash and cash equivalents and $3,761 million of outstanding debt at the end of 2016. The debt-to-capitalization ratio, at the end of first-quarter 2017, was 0.62 compared with 0.65 at the end of 2016.
Operating Metrics
Number of screens operated was 10,434, up a whopping 96.4% year over year. Average ticket price was $8.75 compared with $9.42 in the year-ago quarter. In the reported quarter, food and beverage revenues per patron were $4.26 compared with $4.76 in the prior-year quarter. Consolidate attendance was 93,354,000, up 82.2% year over year.
AMC Entertainment Holdings, Inc. Price, Consensus and EPS Surprise
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Image: Bigstock
AMC Entertainment (AMC) Beats on Q1 Earnings and Revenues
AMC Entertainment Holdings Inc. (AMC - Free Report) reported strong financial results in the first quarter of 2017 wherein both the top line and the bottom line outpaced the Zacks Consensus Estimate.
First-quarter adjusted earnings per share came in at 29 cents against the Zacks Consensus Estimate of a loss of 8 cents per share. However, GAAP net income was $8.4 million or 7 cents per share compared with $28.3 million or 29 cents per share in the prior-year quarter.
Quarterly total revenue was $1,283.4 million, up a significant 67.5% year over year surpassing the Zacks Consensus Estimate of $1,263 million. Segment wise, Admission revenues were $817.3 million, up substantially 69.4% year over year. Food and beverage revenues were $397.9 million, up a whopping 63% year over year. Other theater revenues were $68.2 million, soaring 73.5% year over year.
Quarterly operating expenses were $1,228 million, up 73.8% year over year. Operating income was $55.4 million, down 6.6% year over year. Operating margin decreased to 4.3% from 7.7% in the year-ago quarter. Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was $251.3 million, advancing 71.5% year over year. Adjusted EBITDA margin was 19.6% compared with 19.1% in the year-ago quarter.
Cash Flow
In the first quarter of 2017, AMC Entertainment generated $166 million of cash from operations compared with $22.9 million in the year-ago quarter. Free cash flow in the reported quarter was $4.7 million compared with a negative $34.8 million in the prior-year quarter.
Liquidity
At the end of the first quarter of 2017, AMC Entertainment had $313.1 million of cash and cash equivalents and $3,195.2 million of outstanding debt compared with $207.1 million of cash and cash equivalents and $3,761 million of outstanding debt at the end of 2016. The debt-to-capitalization ratio, at the end of first-quarter 2017, was 0.62 compared with 0.65 at the end of 2016.
Operating Metrics
Number of screens operated was 10,434, up a whopping 96.4% year over year. Average ticket price was $8.75 compared with $9.42 in the year-ago quarter. In the reported quarter, food and beverage revenues per patron were $4.26 compared with $4.76 in the prior-year quarter. Consolidate attendance was 93,354,000, up 82.2% year over year.
AMC Entertainment Holdings, Inc. Price, Consensus and EPS Surprise
AMC Entertainment Holdings, Inc. Price, Consensus and EPS Surprise | AMC Entertainment Holdings, Inc. Quote
AMC Entertainment competes with major theatrical exhibitors like Cinemark Holdings Inc. (CNK - Free Report) , Live Nation Entertainment Inc. (LYV - Free Report) and Regal Entertainment Group (RGC - Free Report) . The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>