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AMC Entertainment (AMC) Tops Q1 Earnings, Revenues Miss

AMC Entertainment Holdings Inc. AMC operates as a theatrical exhibition company primarily in the U.S. and internationally. It owned or interests in theatres and screens.

AMC Entertainment has been investing a great deal in renovating and refurbishing its multiplexes through enhancements like reclining seats, improved foods and beverages, dine-in theaters, and advanced sound and digital equipment to draw viewers.

Also, the company recently signed an agreement to buy theater chain, Carmike Cinemas Inc. in a cash-and-debt deal valued at about $1.1 billion. The acquisition of the suburban and rural-focused company will allow AMC Entertainment to geographically diversify its operations and drive business expansion.

AMC Entertainment currently carries a Zacks Rank #3 (Hold). The company has suffered a negative average earnings surprise of 14.88% in the previous four quarters. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings:  AMC Entertainment posted better-than-expected earnings in the first quarter. Our consensus adjusted earnings per share estimate was 21 cents while the company reported adjusted earnings per share of 27 cents.  Investors should note that these figures take out stock option expenses.

Revenue:  AMC Entertainment generated total revenue of a little over $766 million, which lagged the Zacks Consensus Estimate by approximately $4 million.

Key Stats to Note:  During the first quarter of 2016, Average screens-continuing operations were 5,313, up 8.8% year over year. Number of screens operated was up 8.5% to 5,380. Number of theatres operated was up 11.6% to 385.    

Check back later for our full write up on this AMC Entertainment earnings report later!

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AMC ENTERTAINMT (AMC): Free Stock Analysis Report
 
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