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AMC Entertainment Holdings, Inc (AMC)

  • Mon, Sep. 28, 1:13 PM
    • The U.S. box office is in pretty good shape heading into a blockbuster-packed Q4.
    • The YTD tally of $8.165B through September 27 is 6.2% higher than where exhibitors stood in 2014, and beats the pace of all years since 2010 in gross dollars.
    • In-theater spending is also believed to be higher than a year ago off a higher mix of premium theaters.
    • Related stocks: CKEC, AMC, CNK, RLD, IMAX, RDI, MCS.
    | Mon, Sep. 28, 1:13 PM | 1 Comment
  • Thu, Aug. 20, 8:46 AM
    • Regal Entertainment (NYSE:RGC) is now checking bags and backpacks at theaters across the U.S. to increase security, according to The Denver Post.
    • The development follows two shooting incidents at movie theaters this summer.
    • The company hasn't weighed in on if there will be a financial impact from the new procedures.
    • Other exhibitor stocks: AMC, CKEC, RDI, MCS.
    | Thu, Aug. 20, 8:46 AM | 2 Comments
  • Tue, Aug. 11, 3:12 PM
    • AMC Entertainment (NYSE:AMC) continues to slide and is now down 5.4% to a session low of $28.10.
    • Though company hasn't issued any press releases today, and Wall Street has been quiet on the exhibitor, selling pressure may be building up due to a devaluation of the Chinese currency which could change the way owner Dalian Wanda sets strategy for AMC.
    | Tue, Aug. 11, 3:12 PM | 6 Comments
  • Thu, Jul. 30, 9:05 PM
    • After a Paramount Pictures (VIA, VIAB -0.4%) experiment to shrink theatrical release windows launched with two exhibitor partners -- AMC Theatres (AMC +4.1%) and Cineplex Entertainment (OTC:CPXGF) -- other chains are beginning to take up sides, including one giant lined up against.
    • Five other chains have signed up to show two low-budget horror films on Paramount's terms: National Amusements (owned by Sumner and Shari Redstone); Southern Theatres; Alamo Drafthouse Cinema; Canada-based Landmark Cinemas; and upscale chain iPic. With the added support, about 30% of the exhibition market has signed on.
    • Meanwhile, the country's largest chain, Regal Entertainment (RGC +2.9%), says it's rejecting the plan, preferring to stick with a "traditional distribution model."
    • Paramount's idea -- to shorten the 90-day exclusive window that theatrical chains have before a film heads to other formats -- is a change to the status quo that the studio sweetens by offering to share digital revenues with participating chains.
    • “The parameters of the current proposal, both economic and structural, simply do not make sense for us given the potential risks to the long-term health of our business,” said Regal CEO Amy Miles on an earnings call today.
    • Related stocks: CKEC, CNK, RLD, IMAX, RDI, MCS.
    • Previously: Paramount's release-window experiment draws praise -- and worries (Jul. 16 2015)
    • Previously: Exhibitors on watch as shorter release window to be tested (Jul. 09 2015)
    | Thu, Jul. 30, 9:05 PM | Comment!
  • Wed, Jul. 29, 5:29 PM
    • AMC Entertainment (NYSE:AMC) reports admissions revenue rose 11.4% to $533.38M in Q2.
    • Average ticket price +3.76% Y/Y to $9.91.
    • Food and beverage revenues per patron was up 10.2% to $4.65.
    • Adjusted EBITDA margin rate +110 bps to 19.2%.
    • Film exhibition costs were 14.85% higher to $295.42M for the quarter.
    • Previously: AMC Entertainment misses by $0.01, beats on revenue (July 29)
    • AMC -1.15% after hours.
    | Wed, Jul. 29, 5:29 PM | Comment!
  • Wed, Jul. 29, 4:12 PM
    • AMC Entertainment (NYSE:AMC): Q2 EPS of $0.45 misses by $0.01.
    • Revenue of $821.08M (+13.0% Y/Y) beats by $10.87M.
    • Press Release
    | Wed, Jul. 29, 4:12 PM | Comment!
  • Tue, Jul. 28, 4:48 PM
    • AMC Entertainment (NYSE:AMC) declares $0.20/share quarterly dividend, in line with previous.
    • Forward yield 2.67%
    • Payable Sept. 21; for shareholders of record Sept. 8; ex-div Sept. 3.
    | Tue, Jul. 28, 4:48 PM | Comment!
  • Tue, Jul. 28, 9:56 AM
    • Exhibitor stocks are weak after Carmike Cinemas (CKEC -9.4%) disappointed with its Q2 earnings report.
    • The company paid out a higher level of fees for film rights due to the increased mix of 3D and IMAX showings.
    • As a percentage of revenue, film exhibition fees rose 270 bps to 58.7%.
    • On the conference call, Carmike CFO Richard Hare said he expects the rate to moderate in Q3.
    • Carmike Cinemas earnings call transcript.
    • Decliners: Cinemark Holdings (NYSE:CNK) -1.81%, AMC Entertainment (NYSE:AMC) -2.89%, Reading International (NASDAQ:RDI) -0.52%, Regal Entertainment (NYSE:RGC) -1.38%,
    | Tue, Jul. 28, 9:56 AM | Comment!
  • Wed, Jul. 22, 1:26 PM
    | Wed, Jul. 22, 1:26 PM | Comment!
  • Wed, Jul. 22, 8:58 AM
    • MKM Partners upgrades AMC Entertainment (NYSE:AMC) to a Buy rating from Neutral.
    • The ratings boost comes after AMC named a new CEO for its theater business in the U.S.
    • Previously: AMC Theatres CEO steps down (Jul. 21 2015)
    | Wed, Jul. 22, 8:58 AM | Comment!
  • Tue, Jul. 21, 5:11 PM
    • Extended Stay America (NYSE:STAY) names Gerardo Lopez, current CEO of AMC Entertainment (NYSE:AMC), as its new President and CEO, effective August 24.
    • Lopez will succeed STAY CEO Jim Donald, a former Starbucks CEO who hired Lopez at the coffee company more than a decade ago; Donald will become a senior adviser until the end of the year.
    • Lopez says he has no direct experience in the hotel industry but sees several parallels between the move theater business and hospitality.
    • Earlier: AMC Theatres CEO steps down
    | Tue, Jul. 21, 5:11 PM | Comment!
  • Tue, Jul. 21, 8:37 AM
    • AMC Theatres announces Gerardo Lopez will step down as CEO and from the board on August 6.
    • The company says CFO Craig Ramsey will fill the position on an interim basis.
    • AMC Theatres is owned by Dalian Wanda subsidiary AMC Entertainment (NYSE:AMC).
    • AMC Entertainment reports Q2 earnings on July 29.
    | Tue, Jul. 21, 8:37 AM | Comment!
  • Sat, Jul. 18, 2:20 PM
    • Box office revenue in the U.S. is up 8.5% Y/Y through June 17, although this year's top-heavy box office performance is only 1% higher than where the industry stood five years ago at the mid-year mark.
    • The good news for the sector is that box is only part of the story. Growth for in-theater spending has outpaced ticket prices by a wide margin. There's also more than a few blockbusters set for the second half including Star Wars 7 in December.
    • An even bigger factor for global players are the strong box office numbers from China (+50% Y/Y to $3.3B) and Latin America (+19%). At the current rate of growth, China's box office will end the year at two-thirds of the U.S. market which is sure to catch the eyes of Hollywood studios.
    • Exhibitor scorecard: IMAX (NYSE:IMAX) is up 23.0% YTD with China a significant factor, while Cinemark's (NYSE:CNK) presence in Latin America has helped it to a 15.6% run this year. Though AMC Entertainment (NYSE:AMC) has a global owner in Dalian Wanda, it's been renovations and new dine-in theaters in the U.S. that have helped boost sales and EBITDA margin. AMC shares are +25.4% YTD. Cinemark (NASDAQ:CKEC) is +7.6% to double the return of the S&P 500, while Regal Entertainment (NYSE:RGC) has been the sector laggard with a negative 2015 return.
    | Sat, Jul. 18, 2:20 PM | 2 Comments
  • Thu, Jul. 16, 8:18 PM
    • Paramount Pictures' move to shorten the traditional theatrical release window for films -- by just a bit -- may be thawing relations between studios and theater chains who may be acknowledging the movie business has changed from the old way.
    • After Paramount (VIA, VIAB) made a deal with AMC Theatres (NYSE:AMC) and Cineplex Entertainment (OTC:CPXGF) to shorten the home-entertainment release window on a pair of low-budget horror films, other exhibitors called wanting in, says Paramount vice chairman Rob Moore -- a sign that the shorter windows could take off.
    • The films can head to digital platforms just 17 days after they leave most theaters, which should happen in shorter order than a usual 90-day window. In return, the theater chains will share a piece of the digital revenue that Paramount will earn from taking the films to home venues.
    • While the model likely won't work for major and tentpole releases that stay in theaters for long stretches, it's the first time that theater owners have agreed to cede turf, and it acknowledges that a smaller film might not need to stay in theaters for weeks and weeks.
    • There's still worry: A rival studio exec argued to Variety that even this move can get customers more used to skipping the theater and watching at home.
    • Related stocks: CKEC, CNK, RLD, IMAX, RDI, MCS.
    • Previously: Exhibitors on watch as shorter release window to be tested (Jul. 09 2015)
    • Previously: Paramount, theater chains experiment with shorter release window (Jul. 08 2015)
    | Thu, Jul. 16, 8:18 PM | Comment!
  • Thu, Jul. 16, 9:30 AM
    • Top execs with Netflix (NASDAQ:NFLX) reiterated during last night's earnings call that negative free cash flow was expected as the company grows internationally. The management team focuses on the ratio of content P&L expense to cash which hovers in the 1.2 to 1.3 range. They expect it to peak at 1.4.
    • Though analysts tried to pin the company down on pricing and the potential to increase ARPU (average revenue per user), Netflix is early in the process of figuring out the impact of value added taxes and F/X swings in various markets which makes projections difficult.
    • Of note to the movie exhibitor sector (AMC, RGC, CKEC, CNK), Netflix CCO Ted Sarandos says the release of original movies in theaters is largely "symbolic" to differentiate the features from TV movies. Crouching Tiger, Hidden Dragon 2 will be released in the 3D format in China.
    • CEO Reed Hastings doesn't have a clear answer on the rocket ride of his company's stock. He notes that he called it "euphoric" when NFLX traded at half its current level, adding "it's a mystery to me" in reference to stock picking.
    • Netflix earnings call transcript
    • New investment firm price targets: Nomura to $120, Piper Jaffray to $96, Canaccord Genuity to $120, Needham to $111, FBR Capital to $142, Pivotal Research to $155, SunTrust to $95.
    • Previously: Netflix beats by $0.02, misses on revenue (Jul. 15 2015)
    • Previously: Subscriber growth dazzles at Netflix (Jul. 15 2015)
    • NFLX +11.31% premarket to $109.19
    | Thu, Jul. 16, 9:30 AM | 13 Comments
  • Thu, Jul. 9, 12:15 PM
    | Thu, Jul. 9, 12:15 PM | 41 Comments
AMC vs. ETF Alternatives
Company Description
AMC Entertainment Holdings Inc is engaged in theatrical exhibition. Itis principally involved in the theatrical exhibition business and owns, operates or has interests in theatres located in the United States.