AMC Entertainment Inc. AMC, +6.64% offered guidance for the fourth quarter on Tuesday, with revenue ahead of consensus but a net loss range that is wider than expected. The company expects revenue of about $1.172 billion, up from $162.5 million in the year-earlier quarter. The FactSet consensus is for revenue of $1.093 billion. But the cinema-chain operator expects its net loss to range from $194.8 million to $114.8 million, compared with a loss of $946.1 million a year ago and a consensus of $119 million. The loss includes non-cash impairment charges of $50 million to $125 million on long lived assets. Operating cash burn is expected to total about $216.5 million. The company ended the quarter and year with $1.8 billion in liquidity. Shares were up 1.7% premarket and have gained 20.8% in the last 12 months, while the S&P 500 SPX, +1.89% has gained 19.7%.
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Debris covers a damaged structure in Rolling Fork, Miss,. on Saturday, March 25, 2023. Powerful tornadoes tore through the Deep...Read more
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