AMC Entertainment Holdings Q2 2024 10-Q Filed
Ticker: AMC · Form: 10-Q · Filed: 2024-08-02T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, investment-income, debt
Related Tickers: HYMC
TL;DR
**AMC Q2 10-Q: Investment income from Hycroft Mining noted, financials updated.**
AI Summary
AMC Entertainment Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates. Notably, the company reported investment income related to its holdings in Hycroft Mining Holding Corporation during the second quarter of 2024.
Why It Matters
This filing provides investors with the latest financial snapshot of AMC, including revenue, expenses, and any significant investments or debt obligations, crucial for understanding the company's current financial health.
Risk Assessment
Risk Level: medium — AMC operates in a highly competitive and cyclical industry, facing ongoing challenges related to attendance, content, and debt, which inherently carries significant risk.
Key Numbers
- 361,354,955 — Total Assets (As of June 30, 2024, indicating the company's overall resource base.)
- 260,574,392 — Total Liabilities (As of June 30, 2024, reflecting the company's financial obligations.)
Key Players & Entities
- AMC ENTERTAINMENT HOLDINGS, INC. (company) — Filer
- Hycroft Mining Holding Corporation (company) — Investment Income Source
- 20240630 (date) — Reporting Period End Date
- 20240802 (date) — Filing Date
FAQ
What was the total investment income reported for the quarter ending June 30, 2024?
The filing indicates investment income from Hycroft Mining Holding Corporation for the period April 1, 2024, to June 30, 2024, but a specific dollar amount for this quarter's investment income is not explicitly stated in the provided snippet.
What is the fiscal year end for AMC Entertainment Holdings, Inc.?
The fiscal year end for AMC Entertainment Holdings, Inc. is December 31.
When was the 10-Q filing submitted to the SEC?
The 10-Q filing was submitted on August 2, 2024.
What is the primary business of AMC Entertainment Holdings, Inc. according to the SIC code?
The Standard Industrial Classification (SIC) code indicates the company operates in Services-Motion Picture Theaters [7830].
Does the filing mention any specific debt instruments or agreements?
Yes, the filing references 'Second Lien Notes Due 2026' and a 'Forward Purchase Agreement' in relation to Antara Capital Lp.
Filing Stats: 4,549 words · 18 min read · ~15 pages · Grade level 7.3 · Accepted 2024-08-02 16:20:37
Filing Documents
- amc-20240630x10q.htm (10-Q) — 3275KB
- amc-20240630xex31d1.htm (EX-31.1) — 13KB
- amc-20240630xex31d2.htm (EX-31.2) — 13KB
- amc-20240630xex32d1.htm (EX-32.1) — 8KB
- 0001411579-24-000060.txt ( ) — 14702KB
- amc-20240630.xsd (EX-101.SCH) — 88KB
- amc-20240630_cal.xml (EX-101.CAL) — 84KB
- amc-20240630_def.xml (EX-101.DEF) — 482KB
- amc-20240630_lab.xml (EX-101.LAB) — 742KB
- amc-20240630_pre.xml (EX-101.PRE) — 589KB
- amc-20240630x10q_htm.xml (XML) — 3289KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive Loss 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 36 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 60 Item 4.
Controls and Procedures
Controls and Procedures 61
—OTHER INFORMATION
PART II—OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 62 Item 1A.
Risk Factors
Risk Factors 62 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 64 Item 3. Defaults Upon Senior Securities 64 Item 4. Mine Safety Disclosures 64 Item 5. Other Information 65 Item 6. Exhibits 66 Signature 68 2 Table of Contents
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements. (Unaudited)
Item 1. Financial Statements. (Unaudited) AMC ENTERTAINMENT HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended Six Months Ended (In millions, except share and per share amounts) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 (unaudited) (unaudited) Revenues Admissions $ 564.4 $ 744.1 $ 1,094.9 $ 1,278.2 Food and beverage 367.1 488.2 688.3 816.9 Other theatre 99.1 115.6 198.8 207.2 Total revenues 1,030.6 1,347.9 1,982.0 2,302.3 Operating costs and expenses Film exhibition costs 272.3 383.1 511.6 629.3 Food and beverage costs 69.9 91.7 132.9 153.1 Operating expense, excluding depreciation and amortization below 389.5 412.0 783.3 795.2 Rent 218.4 220.8 442.9 426.5 General and administrative: Merger, acquisition and other costs 0.1 0.6 — 0.8 Other, excluding depreciation and amortization below 49.0 58.1 106.7 130.4 Depreciation and amortization 78.8 96.8 160.4 190.4 Operating costs and expenses 1,078.0 1,263.1 2,137.8 2,325.7 Operating income (loss) ( 47.4 ) 84.8 ( 155.8 ) ( 23.4 ) Other expense (income), net Other expense (income) ( 108.2 ) ( 31.9 ) ( 151.0 ) 5.9 Interest expense: Corporate borrowings 89.2 92.0 180.2 182.7 Finance lease obligations 0.6 1.0 1.5 1.9 Non-cash NCM exhibitor services agreement 9.2 9.6 18.5 19.1 Investment expense (income) ( 6.1 ) 5.1 ( 11.2 ) ( 8.4 ) Total other expense (income), net ( 15.3 ) 75.8 38.0 201.2 Earnings (loss) before income taxes ( 32.1 ) 9.0 ( 193.8 ) ( 224.6 ) Income tax provision 0.7 0.4 2.5 2.3 Net earnings (loss) $ ( 32.8 ) $ 8.6 $ ( 196.3 ) $ ( 226.9 ) Net earnings (loss) per share: Basic $ ( 0.10 ) $ 0.06 $ ( 0.67 ) $ ( 1.57 ) Diluted $ ( 0.10 ) $ 0.06 $ ( 0.67 ) $ ( 1.57 ) Average shares outstanding: Basic (in thousands) 321,581 151,302 29