AMC Entertainment Holdings, Inc. reported its financial results for the second quarter ended June 30, 2024, revealing a decline in total revenues and a net loss compared to the previous year. The company's total revenues decreased to $1,030.6 million from $1,347.9 million in Q2 2023, and it experienced a net loss of $32.8 million, a drop from net earnings of $8.6 million in the same quarter of the previous year. The net loss per diluted share was $(0.10), compared to net earnings per diluted share of $0.06 in Q2 2023. Adjusted EBITDA also fell to $29.4 million from $182.5 million in the prior year. The company's cash and cash equivalents stood at $770.3 million as of June 30, 2024. AMC's Chairman and CEO, Adam Aron, attributed the slow start of the quarter to the...Show More

AMC Entertainment Holdings, Inc. reported its financial results for the second quarter ended June 30, 2024, revealing a decline in total revenues and a net loss compared to the previous year. The company's total revenues decreased to $1,030.6 million from $1,347.9 million in Q2 2023, and it experienced a net loss of $32.8 million, a drop from net earnings of $8.6 million in the same quarter of the previous year. The net loss per diluted share was $(0.10), compared to net earnings per diluted share of $0.06 in Q2 2023. Adjusted EBITDA also fell to $29.4 million from $182.5 million in the prior year. The company's cash and cash equivalents stood at $770.3 million as of June 30, 2024. AMC's Chairman and CEO, Adam Aron, attributed the slow start of the quarter to the 2023 Hollywood writers and actors strikes but noted a strong finish due to the success of Disney's 'INSIDE OUT 2'. Aron highlighted the record-setting June performance and expressed optimism for the future, citing a slate of blockbuster movie releases and transformative capital market transactions that extended debt maturities, improving the company's financial position.