During their earnings call today, AMC made a plethora of announcements. Here are the key takeaway points.
- Q3 and Q4 trend line (in terms of) revenue are positive with more movie titles on the horizon
- No debt maturities till 2023, and most of them aren’t until 2026. AMC has more time to repay its debt – Less stress on liquidity
- In terms of the new streaming era, Adam Aron said “movie theatres are resilient – Americans visited movie theatres 1 billion times in 2019.” Considering historical events, its highly unlikely streaming will take over theatres
- Liquidity: $2.02bn ($1.81bn unrestricted) Cash burn: $85 million per month
- 10 new AMC theatres to be leased soon
- AMC to feature concert movies later this month.
- AMC will reach out to GameStop for a possible collaboration.
- AMC exploring cryptocurrencies and blockchains; have plans to accept Bitcoin as early as end of the year
- Reaches formal agreement with Warner brothers to have 45 day exclusive theatrical windowfor all their movies in 2022
- Adam Aron has proposed a new policy for insider trading; encouraging the senior executives to hold AMC shares – in alignment with their salary.
https://risingcandle.com/business/amc-earnings-call-key-points-a-quick-recap/
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