AMC Stock Climbs After Q2 Revenue, EPS Top Estimates

AMC Entertainment Holdings Inc AMC shares are rising Monday after the company reported better-than-expected results for the second quarter.

What To Know: AMC reported second-quarter revenue of $1.4 billion, beating analyst estimates of $1.34 billion, according to Benzinga Pro. The company reported breakeven adjusted earnings per share versus estimates for a loss of 9 cents per share.

Total revenue was up more than 35% on a year-over-year basis as attendance totaled approximately 62.81 million in the quarter, up 25.6% year-over-year. U.S. attendance came in at 46.89 million, up 28.5% year-over-year.

Net cash provided by operations was $138.4 million in the quarter, and AMC generated $88.9 million of free cash flow in the period. The company ended the quarter with $423.7 million in cash and cash equivalents.

"Our second quarter results are a combination of a recovering industry-wide box office, and the undeniable fact that both AMC and Odeon are executing so well in so many different ways. Indeed, we shattered alltime records across nearly every per patron metric,” said Adam Aron, chairman and CEO of AMC.

Revenue per patron was $12.14 in the quarter and consolidated food and beverage revenue per guest hit a record $7.95. Total consolidated revenue per patron was $22.26 in the second quarter.

“The combination of a resurgent box office, our unparalleled theatre footprint with premium experiences galore, our compelling marketing programs and our increasing financial strength have a flywheel impact when they all are happening simultaneously,” Aron said.

AMC’s management team will further discuss the quarter on an earnings call set for 5 p.m. ET.

AMC Price Action: AMC shares were up 4.37% at $3.06 at the time of publication Monday, according to Benzinga Pro.

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