AMC Entertainment Holdings, IncNYSE
AMC Entertainment: Buying Opportunity Emerging, With Strong Fundamentals Intact
Johannes Salim, CFA
Johannes Salim, CFA
Today, 6:57 AM
- AMC Entertainment Holdings (NYSE:AMC) expects to report Q3 revenue of $777M to $780M vs. $785M consensus.
- Operating income is expected to fall in a range of $63.5M to $66.5M and adjusted EBITDA of $142M to $145M is anticipated.
- The company says total attendance was up about 10% during the quarter.
- Full earnings are due to be reported on November 7.
Fri, Oct. 21, 7:06 AM
- AMC Entertainment (NYSE:AMC) announces that it intends to offer approximately $900M in senior notes.
- The company also intends to offer approximately $500M principal amount dollar-denominated “B” term loans due 2023 via a new “B” incremental term loan tranche under its existing credit agreement .
- The proceeds brought in from the notes and borrowings will be used for the purchases of Odeon & UCI and Carmike Cinemas.
- Source: Press Release
Mon, Oct. 17, 6:58 PM
- Ben Affleck and The Accountant (TWX -0.9%) outpaced expectations and took the weekend's box office crown, grossing $24.7M to surpass last week's leader.
- The Girl on the Train (CMCSA -0.3%) followed up at No. 2, taking $12.25M to bring its two-week total to $46.8M domestically. The thriller has grossed $79.9M worldwide.
- Meanwhile, Kevin Hart: What Now?, another Universal film, made the largest opening ever for a stand-up comedy film, grossing $11.8M and just missing the No. 2 spot.
- Among other debuts, the only other wide release, Max Steel (AMC -0.6%, RGC -1.1%), flopped with just $2.2M despite a 2,000-theater opening.
Mon, Oct. 10, 7:52 AM
- The U.S. box office is up 3.8% Y/Y to $8.7781B through October 9, according to the latest tabulation from Box Office Mojo.
- The sector received a boost in the third quarter from the strong runs of The Secret Life of Pets and Suicide Squad.
- A higher average ticket price this year helped to offset some traffic slips.
- Movie theaters face a tough comparison in Q4 after Star Wars: The Force Awakens brought in $652M during the period last year.
- Related stocks: CKEC, AMC, CNK, IMAX, RDI, MCS, NCMI.
Mon, Sep. 19, 12:32 PM
- Lions Gate (NYSE:LGF) is off 4.4% after its critically mixed horror film Blair Witch fell well short of knocking off Sully (TWX +1.4%) from the top of the box-office chart.
- Blair Witch was the best of three top-five debuts, but Sully's $22M kept it on top for the second straight week.
- Lions Gate's new revisit to the woods of its 1999 cult film The Blair Witch Project pulled just $9.7M despite opening in more than 3,000 theaters. It has a "36% Fresh" rating on review aggregator Rotten Tomatoes.
- Just behind at No. 3 was another disappointing showing in Bridget Jones's Baby (CMCSA -0.2%), with $8.2M, followed by Snowden (AMC -0.2%, RGC) with $8M.
- Sully, directed by Clint Eastwood and starring Tom Hanks, has hit $70.5M cumulative in its two weeks, and $93.9M total worldwide.
Tue, Aug. 30, 9:45 AM
Mon, Aug. 29, 11:42 AM
- The U.S. box office is up 5.5% to $7.9328B after the first eight months of the year, according to tallying from Box Office Mojo.
- Higher ticket prices account for some of the gain.
- Despite a solid summer in terms of movie theater attendance, studios may have left something on the table as they suffered from "sequelitis virus," according to an insider look from The Hollywood Reporter.
- SA contributor L&F Capital Management pointed out last week that Disney's box office dominance (Finding Dory, Captain America: Civil War, The Jungle Book) this year bodes well for Netflix (NFLX +0.7%) which has exclusive streaming rights for the movies geared at children.
- Related stocks: CKEC, AMC, CNK, RLD, IMAX, RDI, MCS, NCMI.
Wed, Aug. 24, 7:33 AM
- Exhibitor stocks have a new fan in boutique firm Loop Capital.
- Loop Capital starts coverage on Cinemark (NYSE:CNK) and AMC Entertainment (NYSE:AMC) with Buy ratings. Regal Entertainment (NYSE:RGC) is initiated with a Hold rating.
- The U.S. box office is up 4.8% over last year's level through August 22, according to tracking from Box Office Mojo.
Mon, Aug. 8, 3:19 PM
- AMC Entertainment (AMC -0.5%) announces it plans to accelerate the number of Dolby Cinema at AMC installations to 100 operational sites by the end of 2017 after receiving "rave reviews" from customers. The new pace is seven years ahead of the originally announced schedule.
- In addition, AMC and Dolby (NYSE:DLB) are collaborating on expansion plans to increase the amount of Dolby Cinema at AMC locations to beyond the initial 100.
- The Dolby Cinema at AMC format features premium audio and power recliners.
- Source: Press Release
Thu, Aug. 4, 1:05 PM
- Driehaus Capital Management says it will vote in favor of accepting AMC Entertainment's (AMC +2.7%) higher offer for Carmike Cinemas (NASDAQ:CKEC).
- "We are confident that Carmike's current standalone value is substantially in excess of the $33.06 per share offer. However, we are not as confident that it would be one year from today given management's focus on selling the company rather than growing it," reads a statement from the investment advisory firm.
- Driehaus beneficially holds over 2.430M shares of Carmike.
- Shares of CKEC are up 3.57% to $31.29.
Mon, Aug. 1, 7:00 AM
- AMC Entertainment (NYSE:AMC) reports admissions revenue decreased 9.8% to $481.2M in Q2.
- Attendance declined 7.1% to 49.996M, while the average ticket price dropped 2.8% to $9.63.
- Food and beverage revenue fell 2.8% to $243.5M.
- F&B revenue per patron rose 4.7% to $4.87.
- The company had 5,334 screen in operation at the end of Q2 compared to 5,031 screens a year ago.
Mon, Aug. 1, 6:47 AM
Sun, Jul. 31, 5:30 PM
Tue, Jul. 26, 4:41 PM
Mon, Jul. 25, 7:00 AM
- AMC Entertainment (NYSE:AMC) has agreed to buy Carmike Cinemas (NASDAQ:CKEC) in a cash and stock deal valued at $1.2B.
- Under terms of the transaction, for each outstanding share of CKEC common stock, Carmike’s stakeholders will have the option to receive either $33.06 in cash or 1.0819 shares of AMC's Class A common stock.
- The transaction is expected to produce annual cost synergies of approximately $35M.
Fri, Jul. 15, 2:45 AM
- AMC Entertainment (NYSE:AMC) is exploring a potential sweetened bid for Carmike Cinemas (NASDAQ:CKEC) that would top its previous $1.1B offer, Reuters reports.
- The smaller movie theater chain said on Thursday it will continue to have ongoing discussions with AMC after it delayed a July 15 shareholder vote on its previous $30 per share offer.
- It was the second time Carmike postponed the vote, which is now set for July 25.