AMC Theatres reported a narrowed net loss in the first quarter of 2024, with the loss improving to $163.5 million from $235.5 million in the same period last year. Total revenues slightly decreased to $951.4 million from $954.4 million. The company's loss per diluted share also improved, dropping from $1.71 to $0.62. Despite a weaker box office contributing to flat revenues, the theater chain is optimistic about the future, with the CEO indicating that 'better times are ahead'. Additionally, AMC has made progress in reducing its debt during this period. However, details on Adjusted EBITDA were not fully disclosed.
Theater chain AMC beats revenue estimates, expects weaker second quarter https://t.co/HVRRYOdrsd https://t.co/rGX3IIcsH5
AMC’s Q1 loss narrows as CEO says ‘better times are ahead’ for theater chain https://t.co/cTMcGjTeJM
$AMC Theaters chipped away at its debt in Q1, but revenue stayed flat amid a weak box office https://t.co/azjLJzBuaW
AMC Theatres Shrinks First Quarter Loss, Sees Revenues Dip on Weaker Box Office https://t.co/T7Df06d97z
$AMC Earnings: -Total revenues were $951.4 million compared to $954.4 million for Q1 2023. - Net loss improved to $(163.5) million compared to a net loss of $(235.5) million for Q1 2023. - Net loss per diluted share was $(0.62) compared to $(1.71) for Q1 2023 - Adjusted EBITDA… https://t.co/uT8Nat9b3N