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AMC Entertainment | 8-K: AMC Entertainment Holdings, Inc. Reports Fourth Quarter and Full Year 2023 Results

SEC announcement ·  Feb 28 22:38
Summary by Moomoo AI
AMC Entertainment Holdings, Inc. (NYSE: AMC) released its financial results for the fourth quarter and full year ended December 31, 2023, on February 28, 2024. The company reported a 23% increase in total revenues for the year, reaching $4.812 billion compared to $3.911 billion in 2022. The net loss improved significantly by $577 million to $396.6 million, which included a non-cash impairment charge of $106.9 million. Adjusted net loss also improved, showing a $409.1 million enhancement from the previous year. The fourth quarter results showed an 11.5% growth in total revenues to $1.104 billion and a net loss improvement to $182 million. Adjusted EBITDA for the year increased by $379.2 million to $425.8 million. AMC's CEO Adam Aron highlighted the company's recovery from the pandemic and the success of distributing concert movies, which contributed to revenue growth. AMC also focused on strengthening its balance sheet, reducing debt by $448.1 million, and raising $865 million through equity sales. Despite challenges from industry-wide strikes, AMC anticipates a positive outlook for the box office in the coming years.
AMC Entertainment Holdings, Inc. (NYSE: AMC) released its financial results for the fourth quarter and full year ended December 31, 2023, on February 28, 2024. The company reported a 23% increase in total revenues for the year, reaching $4.812 billion compared to $3.911 billion in 2022. The net loss improved significantly by $577 million to $396.6 million, which included a non-cash impairment charge of $106.9 million. Adjusted net loss also improved, showing a $409.1 million enhancement from the previous year. The fourth quarter results showed an 11.5% growth in total revenues to $1.104 billion and a net loss improvement to $182 million. Adjusted EBITDA for the year increased by $379.2 million to $425.8 million. AMC's CEO Adam Aron highlighted the company's recovery from the pandemic and the success of distributing concert movies, which contributed to revenue growth. AMC also focused on strengthening its balance sheet, reducing debt by $448.1 million, and raising $865 million through equity sales. Despite challenges from industry-wide strikes, AMC anticipates a positive outlook for the box office in the coming years.
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