AMC Entertainment Holdings Files 8-K

TL;DR

AMC filed an 8-K on 4/26. Financials and exhibits included.

AI Summary

AMC Entertainment Holdings, Inc. filed an 8-K on April 26, 2024, reporting on its results of operations and other events. The filing includes financial statements and exhibits, but does not specify any new material events or financial figures within the provided text.

Why It Matters

This filing indicates AMC is providing updated financial information and reporting on significant corporate events, which is crucial for investors to assess the company's current standing.

Risk Assessment

Risk Level: low — The filing is a standard 8-K report and does not contain information indicating immediate or significant risk.

Key Players & Entities

• AMC ENTERTAINMENT HOLDINGS, INC. (company) — Registrant
• April 26, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 001-33892 (identifier) — Commission File Number
• 26-0303916 (identifier) — I.R.S. Employer Identification Number
• One AMC Way 11500 Ash Street (address) — Principal Executive Offices
• Leawood, KS 66211 (address) — Principal Executive Offices
• 913-213-2000 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $951.4 million — ded March 31, 2024, to be approximately $951.4 million compared to $954.4 million for the quar
• $954.4 million — pproximately $951.4 million compared to $954.4 million for the quarter ended March 31, 2023.
• $7.1 million — 1, 2024, compared to Adjusted EBITDA of $7.1 million for the quarter ended March 31, 2023. I
• $16.7 million — rch 31, 2023 was a previously disclosed $16.7 million benefit to Adjusted EBITDA related to a
• $624.2 million — ash equivalents at March 31, 2024 to be $624.2 million. Adjusted EBITDA is a non-GAAP financ
• $250.0 million — ng an aggregate offering price of up to $250.0 million. As of April 25, 2024, AMC has sold app
• $41.8 m — stock and has raised gross proceeds of $41.8 million, before commissions and fees, all
• $0.5 million — f Hycroft Mining Holding Corporation of $0.5 million and deterioration in estimated value of
• $3.2 million — foreign currency transaction losses of $3.2 million and gains on debt extinguishment of $(5

Filing Documents

• tm2412799d1_8k.htm (8-K) — 75KB
• tm2412799d1_ex99-1.htm (EX-99.1) — 55KB
• tm2412799d1_ex99-1img001.jpg (GRAPHIC) — 17KB
• tm2412799d1_ex99-1img002.jpg (GRAPHIC) — 22KB
• 0001104659-24-053112.txt ( ) — 372KB
• amch-20240426.xsd (EX-101.SCH) — 3KB
• amch-20240426_lab.xml (EX-101.LAB) — 33KB
• amch-20240426_pre.xml (EX-101.PRE) — 22KB
• tm2412799d1_8k_htm.xml (XML) — 4KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On April 26, 2024, AMC Entertainment Holdings, Inc. (the "Company") issued a press release announcing select preliminary estimated financial results for the quarter ended March 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished pursuant to Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such a filing.

01 Other Events

Item 8.01 Other Events. On April 26, 2024, the Company released preliminary results for the first quarter ended March 31, 2024. The preliminary results are unaudited, subject to completion of the Company's financial reporting processes, based on information known by management as of the date of this Current Report on Form 8-K and do not represent a comprehensive statement of the Company's financial results for the quarter ended March 31, 2024. The Company expects: Total revenues for the quarter ended March 31, 2024, to be approximately $951.4 million compared to $954.4 million for the quarter ended March 31, 2023. Net loss for the quarter ended March 31, 2024, to be $(163.5) million, compared to a net loss of $(235.5) million for the quarter ended March 31, 2023. Diluted loss per share for the quarter ended March 31, 2024, to be $(0.62)compared to diluted loss per share of $(1.71) for the quarter ended March 31, 2023 1 . Adjusted EBITDA to be $(31.6) million for the quarter ended March 31, 2024, compared to Adjusted EBITDA of $7.1 million for the quarter ended March 31, 2023. Included in the prior year's quarterly results ended March 31, 2023 was a previously disclosed $16.7 million benefit to Adjusted EBITDA related to an early termination of a theatre lease. Cash and cash equivalents at March 31, 2024 to be $624.2 million. Adjusted EBITDA is a non-GAAP financial measure and tables reconciling this non-GAAP financial measure to its closest respective GAAP financial measures are included below. In March 2024, AMC launched an at-the-market equity program to sell its Class A common stock having an aggregate offering price of up to $250.0 million. As of April 25, 2024, AMC has sold approximately 12.8 million shares of its Class A common stock and has raised gross proceeds of $41.8 million, before commissions and fees, all of which was received after March 31, 2024. AMC will report its full results for the first quarter ended March 31, 2024, after the mar

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K includes "forward-looking statements" within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In many cases, these forward-looking statements may be identified by the use of words such as "will," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "indicates," "projects," "goals," "objectives," "targets," "predicts," "plans," "seeks," and variations of these words and similar expressions. Examples of forward-looking statements include statements we make regarding our expected revenue, net loss, capital expenditure, Adjusted EBITDA and estimated cash and cash equivalents, as well as the box office outlook for the second, third and fourth quarters. Any forward-looking statement speaks only as of the date on which it is made. These forward-looking statements may include, among other things, statements related to AMC's current expectations regarding the performance of its business, financial results, liquidity and capital resources, and the impact to its business and financial condition of, and measures being taken in response to, the COVID-19 virus, and are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks, trends, uncertainties and other facts that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. These risks, trends, uncertainties and facts include, but are not limited to: the sufficiency of AMC's existing cash and cash equivalents and available borrowing capacity; availability of financing upon favorable terms or at all; AMC's ability to obtain additional liquidity, which if not realized or insufficient to generate the material amounts of additional liquidity that wi

Forward-looking statements

Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. For a detailed discussion of risks, trends and uncertainties facing AMC, see the section entitled "Risk Factors" and elsewhere in our most recent annual report on Form 10-K and quarterly report on Form 10-Q, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at investor.amctheatres.com or the SEC's website at www.sec.gov. AMC does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 99.1 Earnings press release dated April 26, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMC ENTERTAINMENT HOLDINGS, INC. Date: April 26, 2024 By: /s/ Sean D. Goodman Sean D. Goodman Executive Vice President, International Operations, Chief Financial Officer and Treasurer