AMC Entertainment Shares Drop Ahead Of Rare Friday After-Hours Earnings Report

AMC Entertainment Holdings Inc AMC shares are trading lower by 2.9% to $4.97 early Friday, despite recently setting new 2024 records for weekend movie theater attendance and admissions.

Shares are down ahead of the company’s second-quarter financial results, which are set to be released after the market closes.

The last time AMC reported quarterly financial results on a Friday was on Aug. 4, 2017.

Read Also: What’s Going On With AMC Shares Today?

Companies often prefer to release earnings early in the week to give their stock price time to stabilize before the weekend. Releasing results on Friday can lead to increased uncertainty and speculation over the weekend.

Whenever the traditional earnings call with analysts is held on a Friday, it’s considered less convenient and can lead to poor communication.

Given AMC’s history with high volatility and its status as a “meme stock,” the company might view the move as a way to delay immediate market reaction to manage potential volatility in the stock.

Read Also: After Taylor Swift And Beyoncé, Now Usher Goes To AMC – Will Shareholders Say ‘Yeah’ Or Be ‘Caught Up’ In Stock Drop?

What We Can Expect: The company shared preliminary numbers with investors last week. AMC expects to report revenue of around $1.03 billion, surpassing estimates of $1.018 billion.

The movie theater chain also anticipates a loss of 10 cents per share, significantly better than the projected 43 cents per share loss.

From Thursday through Sunday, AMC enjoyed a surge in ticket sales thanks to the debut of Walt Disney Co DIS and Marvel's “Deadpool & Wolverine,” which achieved new opening weekend records for an R-rated film.

The company also reported its highest food and beverage revenue for a single weekend since 2019, with record sales of beer, wine and cocktails.

AMC chairman and CEO Adam Aron expressed pride in AMC’s summer results. Inside Out 2, Despicable Me 4 and Deadpool & Wolverine. The latter achieved the highest attendance and admissions revenue for an R-rated movie’s opening weekend in AMC’s history, drawing over 6 million guests.

Is AMC A Good Stock To Buy?

In addition to valuation metrics and price action which you can find on Benzinga's quote pages — like AMC‘s page for example — there are factors like whether a company pays a dividend (AMC does not).

Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

For example, if you're looking to earn an annualized return of 19.19%, you'll need to buy a share of OFS Credit Co by the Oct. 21. Once done, you can expect to receive a nominal payout of 12 cents on Oct. 31.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

Price Action: According to data from Benzinga Pro, AMC has a 52-week high of $54.60 and a 52-week low of $2.38.

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