AMC Entertainment reports Q4 adjusted EPS (54c), consensus (69c)

Reports Q4 revenue $1.1B, consensus $1.05B. Commenting on the earnings announcement, Adam Aron, AMC Entertainment Chairman and CEO said, “AMC reported strong results for both the fourth quarter and full year of 2023, once again exceeding Wall Street’s consensus expectations. It was another full year of continued meaningful recovery from the aftermath of the 2020 pandemic, as evidenced by AMC’s full year 2023 revenues growing by 23% over 2022, and AMC’s Adjusted EBITDA growing by some nine times, from $46.6 million in 2022 to $425.8 million in 2023. AMC’s Revenue and Adjusted EBITDA for 2023 were the strongest since pre-pandemic 2019, and for the first time postpandemic, AMC delivered positive Adjusted EBITDA in each quarter of the year.”