AMC Entertainment Stock FY2023 Q4 Third-party Analysts' Forecast & Preview

AMC Entertainment's meme stock rollercoaster continued to plunge in 2023 as the speculative frenzy unwound. After surging 36-fold in 2021 from $2.00 to an all-time high of $72.62 on pure retail enthusiasm, gravity took over in 2022. AMC plunged 85.49% last year amid a broader meme stock collapse.

The declines accelerated in 2023. After briefly doubling in January and February, AMC reversed sharply in March, falling 33.27% on news of a planned 1-for-10 reverse stock split and preferred equity unit conversion. The selling intensified in August, with shares cratering 71.46% for the month - the worst single month performance ever for AMC.

According to an article from Investors.com, several factors may explain the plunge. A Delaware court approved the controversial preferred unit conversion, diluting shareholders. Then AMC announced plans to sell up to 40 million new shares, further expanding the share count. The September offering raised $326 million but sent the stock to fresh multi-year lows under $10.

In just 8 months, AMC has now surrendered 78.03% in 2023 alone, erasing nearly all of the euphoric 2021 meme stock gains. While AMC's second quarter results showed improvement, the company remains deeply unprofitable over a full year. Wall Street expects losses to persist in 2023 and 2024.

After surging in 2021 on retail enthusiasm alone, AMC's struggling stock in 2022-2023 reflects the harsh reality of its weak fundamentals. The Investors.com article further suggests that with ongoing dilution likely weighing on shareholders, AMC looks extremely risky at current levels based solely on the provided data.

Source: Is AMC Stock A Buy Or Sell Now? (www.investors.com) >>

Part 2：AMC Entertainment FY2023 Q3 Earnings Report Recap

1. AMC Entertainment Key Indicators and Historical Earnings Report

• - AMC Entertainment FY2023 Q3 EPS was $0.08, YOY -103.64%
• - AMC Entertainment PE Ratio today is Loss 
• - AMC Entertainment FY2023 Q3 Revenue was $1.4B, YOY +45.18% 
• - AMC Entertainment FY2023 Q3 FCF was $4.4M, YOY -101.58%
• - AMC Entertainment FY2023 Q3 Current Ratio was 0.64, YOY +14.92% 
• - AMC Entertainment FY2023 Q3 ROA was 0.14%, YOY -105.91%
• - AMC Entertainment FY2023 Q3 ROE was -3104.56%, YOY -82696.77%
• - AMC Entertainment FY2023 Q3 Gross Margin was 65.25%, YOY -2.30% 
• - AMC Entertainment FY2023 Q3 Net Margin was 0.87%, YOY -103.73%

For more information, such as definitions and explanations of the above technical terms, please view:

Interpretation of Key Indicators >>

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2. AMC Entertainment FY2023 Q3 Financial Statement Analysis

• AMC Entertainment Holdings Inc. reported results for the second quarter ended June 30, 2023.

   

  Total revenues increased by 15.6% to $1,347.90 million compared to $1,166.40 million in Q2 2022. The revenue growth was driven by a 12.2% increase in attendance to 66.37 million patrons.

   

  Net income was $8.60 million compared to a net loss of $121.60 million in Q2 2022. Diluted earnings per share was $0.01 compared to a diluted loss per share of $0.12 in Q2 2022.

   

  Adjusted EBITDA improved significantly by 71% to $182.50 million compared to $106.70 million in Q2 2022. The increase likely demonstrates operational improvements at AMC.

   

  Net cash used in operating activities decreased by $63.20 million to $13.40 million compared to $76.60 million in Q2 2022, indicating improved cash flow from operations.

   

  Non-GAAP Operating Cash Generated was $99.80 million, an increase of $47.80 million compared to $52.00 million in Q2 2022. This shows AMC's ability to generate cash from operations has increased.

   

  AMC's liquidity position remains adequate with available liquidity of $643.40 million, including $208.10 million of undrawn revolving credit facility capacity as of June 30, 2023.

   

  Overall, AMC showed significant improvements in revenue, profitability and operating cash flows during Q2 2023 compared to the prior year quarter. The company continues to make progress in its recovery from the pandemic, although financial stability remains a challenge.

Source: AMC Entertainment Holdings, Inc. Reports (mms.businesswire.com) >>

3. AMC Entertainment FY2023 Q3 Business Segment Data

Segment Other Data:

Attendance:

● U.S. markets attendance was 50.02 million, an increase of 15.0% versus prior year quarter. 

● International markets attendance was 16.35 million, up 4.6% compared to Q2 2022. 

● Total consolidated attendance was 66.37 million, up 12.2% year-over-year. 

Average Ticket Price:

● U.S. markets average ticket price was $11.78, an increase of 2.3% year-over-year. 

● International markets average ticket price was $9.48, down 1.1% versus prior year quarter. 

● Consolidated average ticket price was $11.21, up 1.8% compared to Q2 2022. 

Food and Beverage Revenue Per Patron:

● U.S. markets food and beverage per patron was $8.22, an increase of 9.3% year-over-year. 

● International markets food and beverage per patron was $4.72, up 6.3% versus prior year quarter. 

● Consolidated food and beverage per patron was $7.36, up 9.7% compared to Q2 2022. 

Average Screens:

● U.S. markets average screens were 7,418, a decrease of 3.2% versus prior year quarter. 

● International markets average screens were 2,461, down 0.9% year-over-year. 

● Consolidated average screens were 9,879, down 2.7% compared to Q2 2022. 

Segment Information:

Revenues:

● U.S. markets revenues were $1,087.40 million, up 19.8% compared to Q2 2022.

● International markets revenues were $260.50 million, an increase of 0.8% year-over-year.

● Consolidated revenues were $1,347.90 million, up 15.6% versus prior year quarter.

Adjusted EBITDA:

● U.S. markets Adjusted EBITDA was $174.80 million, an increase of 85.2% year-over-year.

● International markets Adjusted EBITDA was $7.70 million, down 37.4% compared to Q2 2022.

● Consolidated Adjusted EBITDA was $182.50 million, up 71.0% versus prior year quarter. 

Source: AMC Entertainment Holdings, Inc. Reports (mms.businesswire.com) >>

Part 3：AMC Entertainment FY2023 Q4 Earnings Report Forecast & Preview

1. AMC Entertainment FY2023 Q4 Forecast By Third Party Analyst Rating, December 6th

Following an extensive evaluation of Tesla's financial data, revenue, and stock trends over the last few quarters by more than 8 third-party financial analysts, AMC Stock has been given a Moderate Sell rating. Analysts forecast an average stock price of $8.950 (Average) for the next 12 months.

- Third Party Analyst rating: Moderate Sell

- AMC Entertainment Price Target: $8.950

- Forecast of FY2023 Q4 EPS: $-0.605

- Forecast of FY2023 Q4 Revenue: $1.1B

- Forecast of FY2023 Q4 EBIT: $-32.4M

Source: https://www.benzinga.com/quote/AMC/analyst-ratings

For more information on what the analyst ratings may mean, visit https://pro.benzinga.com/blog/what-do-stock-analyst-ratings-mean/ (Benzinga is not affiliated with Moomoo Technologies Inc., Moomoo Financial Inc., or its affiliates.)

2. AMC Entertainment Forecast By Technical Analysis, December 6th, 2023

For more information, such as definitions and explanations of the above technical terms, please view: 

Interpretation of technical indicators >>

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