Earnings Outlook: AMC’s third-quarter results on deck: Will the meme-stock darling shake off concerns of a box-office slowdown?

by | Nov 4, 2022 | Stock Market

AMC Entertainment Holdings Inc. reports third-quarter results on Nov. 8, with the meme-stock darling grappling with a “dearth” of major new movie titles in August and September. The movie-theater operator was a victim of pandemic-era lockdowns before attaining a meme-stock status that sent its stock skyrocketing last year, then plummeting back to earth.

Analysts surveyed by FactSet are looking for AMC
to report a net loss of $238 million, or 20 cents a share, compared with a loss of $224 million, or 27 cents a share, in the same quarter of last year. The company is expected to report sales of $961 million, up from $756 million in the same period last year, according to FactSet. Now read: AMC stock sinks to pre-‘meme stock’ levels as B. Riley slashes price target by 32% AMC’s admissions revenue is expected to be $552 million, compared with $421 million in the same period last year, FactSet data show. Analysts project concessions sales of $324 million, up from $263 million in the prior year’s quarter. In its second quarter, AMC reported a narrowing loss that beat expectations, along with revenue that was in line with analysts’ forecasts. However, it said that this year’s third quarter would be relatively quiet in terms of major movie releases. In August, when AMC reported its second-quarter results, CEO Adam Aron spoke of the “dearth” of big titles being released in that month and September, adding that “thing …

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