Why AMC Shares Are Falling

AMC Entertainment Holdings Inc AMC shares are trading lower despite the company reporting better-than-expected third-quarter adjusted EPS and sales results.

AMC reported quarterly losses of 44 cents per share which beat the analyst consensus estimate of a loss of 53 cents per share. AMC also reported quarterly sales of $755.60 million which beat the analyst consensus estimate of $708.25 million by 7%. This is a 532% increase over sales of $119.50 million in the same period last year.

“Our financial results continue to improve. More and more major films are on the docket for release in the remainder of 2021, and throughout 2022. One can see and feel that our industry and our company are on a path of recovery and improvement. Therefore, our spirits are upbeat," said Adam Aron, Chairman and CEO of AMC Entertainment.

"However, even amidst such good news, we are not yet where we want and need to be. We wish to emphasize that no one should have any illusions that there is not more challenge ahead of us still to be met. The virus continues to be with us, we need to sell more tickets in future quarters than we did in the most recent quarter, and Adjusted EBITDA is still well below pre-pandemic levels,” Aron furthered.

AMC has a 52-week high of $72.62 and a 52-week low of $1.91.

Market News and Data brought to you by Benzinga APIs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments