Is The 'Pounce' Happening Today? Here's What To Expect For AMC's Earnings

AMC Entertainment Holdings Inc AMC is set to deliver its second-quarter earnings report on Thursday after the closing bell. If Imax Corp IMAX CEO Richard Gelfond was right in his assertion on Monday, AMC should have powerful earnings.

What Happened: Last week, IMAX released its quarterly report, missing earnings expectations, though it beat analyst expectations on revenues. Gelfond, following the report, appeared on CNBC’s “Squawk Box” to say that the movie theater business is “smoking” due to an impressive lineup of summer blockbusters.

Related: IMAX Chief Says Movie Theater Business Is 'Smoking' - What That Could Mean For Upcoming AMC, Cinemark Earnings

Additionally, Gelfond stated in the same interview that his business was only performing 5% worse than it did in the same period in 2019, before the COVID-19 pandemic.

If AMC was under the same scope, then the company could expect to do revenues of $1.43 billion this period. In the second quarter of 2019, AMC booked $1.506 billion in total revenues.

AMC's stock boomed 34.08% over the past five trading days leading up to its much-anticipated earnings report, which may indicate that investors are getting ready to "pounce" and cause the short squeeze that was hinted at — and AMC CEO Adam Aron commented on in early July.

"Know this: 1. I always keep my word. 2. I’ve said publicly a pounce would not happen before Second Quarter 2022 earnings are announced. 3. Press release issued today that Q2 earnings to be announced on Thurs, August 4. Read between those lines," Aron tweeted on July 7.

Read more: Wen Pounce? AMC Entertainment CEO Hints At Crushing Short Sellers: Here's When The Squeeze Could Be On

Here’s What The Street Is Expecting: The consensus EPS Estimate is -$0.23 (+67.9% Y/Y) and the consensus Revenue Estimate is $1.18B (+166.3% Y/Y).

With two upward revisions over the previous quarter for both EPS and revenue, three downward adjustments for EPS, and four downward revisions for revenue, analysts' expectations are mixed ahead of the report.

It is important to note that AMC has beaten earnings on top and bottom lines for the last four quarters.