AMC reports Q2 earnings Wednesday with analysts expecting a $0.02 loss on $1.5B revenue. Summer box office is lifting attendance but $4.5B in debt remains the focus.
AMC Entertainment Holdings reports fiscal second-quarter results Wednesday after the close. Analysts expect a loss of $0.02 per share on revenue of about $1.5 billion, according to consensus estimates compiled by Bloomberg.
The theater chain enters the print with two competing forces. Summer blockbusters including "Inside Out 2" and "Deadpool & Wolverine" have drawn crowds back to multiplexes, lifting the domestic box office from a sluggish spring. AMC said in May that its second-quarter attendance was tracking ahead of internal forecasts, with June revenue per patron running above pre-pandemic levels.
Debt remains the overhang. AMC carries roughly $4.5 billion in long-term debt, much of it from the 2021 acquisition of Arclight Cinemas and Pacific Theatres. The company has chipped away at the balance sheet through equity sales authorized by shareholders last year, raising cash that management said would go toward reducing borrowings and funding theater upgrades.
The equity-raise program is still active. AMC had $460 million in cash at the end of the first quarter. Analysts at Wedbush estimate that figure could reach $550 million to $600 million by the end of the current quarter, based on shares sold into the rally in May and June.
AMC's Alpha Score sits at 15 out of 100, a Weak label, reflecting the company's high leverage and uncertain path to sustained profitability. The stock page is here.
Investors will focus on the cash balance, the pace of debt repayment, and any update on AMC's planned theater investments. The company does not hold a conference call for its quarterly results.
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