Despite a “dearth” of new movie titles in part of the quarter, analysts surveyed by FactSet are looking for $AMC to report a net loss of $199 million, or 18 cents a share, after a loss of $224 million, or 27 cents a share, in the prior year’s quarter.
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.
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 “things will slow for several weeks.
Nonetheless, the last few months have been eventful for AMC. The company’s AMC Preferred Equity Units, or APEs APE, -3.68%, made their trading debut in August, sparking volatility and heralding the latest chapter in an eventful journey that took the cinema chain from beleaguered pandemic victim to meme-stock phenomenon.
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