AMC Entertainment Holdings Q3 2024 10-Q Filing
Ticker: AMC · Form: 10-Q · Filed: 2024-11-06T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, debt, investment
Related Tickers: HYMC
TL;DR
AMC's Q3 2024 10-Q is in, showing investment income from Hycroft Mining and details on various debt notes.
AI Summary
AMC Entertainment Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance, including investment income related to Hycroft Mining Holding Corporation. It also references various debt instruments such as Toggle Senior Secured Exchangeable Notes Due 2030 and Second Lien Notes Due 2026.
Why It Matters
This filing provides investors with a detailed look at AMC's financial health and operational performance during the third quarter of 2024, including its investments and debt obligations.
Risk Assessment
Risk Level: medium — AMC operates in a highly competitive and cyclical industry, facing ongoing challenges related to revenue generation and debt management.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 2024-11-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- AMC ENTERTAINMENT HOLDINGS, INC. (company) — Filer
- Hycroft Mining Holding Corporation (company) — Investment Income Source
- Toggle Senior Secured Exchangeable Notes Due 2030 (dollar_amount) — Debt Instrument
- Second Lien Notes Due 2026 (dollar_amount) — Debt Instrument
- Antara Capital LP (company) — Financial Entity Mentioned
FAQ
What was the total investment income generated from Hycroft Mining Holding Corporation during the third quarter of 2024?
The filing indicates investment income from Hycroft Mining Holding Corporation for the period July 1, 2024, to September 30, 2024, but does not provide a specific dollar amount in the provided excerpt.
What is the maturity date for the Toggle Senior Secured Exchangeable Notes?
The Toggle Senior Secured Exchangeable Notes Due 2030 mature in 2030, as indicated by their name in the filing.
What specific financial events are referenced in relation to Antara Capital LP?
Antara Capital LP is mentioned in the context of AMC Preferred Equity Units, Forward Purchase Agreement, and Second Lien Notes Due 2026, with a specific date of February 7, 2023, associated with these.
What is the fiscal year end for AMC Entertainment Holdings, Inc.?
The fiscal year end for AMC Entertainment Holdings, Inc. is December 31.
What is the primary business of AMC Entertainment Holdings, Inc. according to the filing?
AMC Entertainment Holdings, Inc. is classified under SERVICES-MOTION PICTURE THEATERS [7830].
Filing Stats: 4,506 words · 18 min read · ~15 pages · Grade level 7.4 · Accepted 2024-11-06 16:36:07
Filing Documents
- amc-20240930x10q.htm (10-Q) — 4502KB
- amc-20240930xex31d1.htm (EX-31.1) — 13KB
- amc-20240930xex31d2.htm (EX-31.2) — 13KB
- amc-20240930xex32d1.htm (EX-32.1) — 8KB
- 0001411579-24-000077.txt ( ) — 17530KB
- amc-20240930.xsd (EX-101.SCH) — 93KB
- amc-20240930_cal.xml (EX-101.CAL) — 93KB
- amc-20240930_def.xml (EX-101.DEF) — 518KB
- amc-20240930_lab.xml (EX-101.LAB) — 796KB
- amc-20240930_pre.xml (EX-101.PRE) — 633KB
- amc-20240930x10q_htm.xml (XML) — 3870KB
—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 37 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 73 Item 4.
Controls and Procedures
Controls and Procedures 74
—OTHER INFORMATION
PART II—OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 75 Item 1A.
Risk Factors
Risk Factors 75 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 77 Item 3. Defaults Upon Senior Securities 77 Item 4. Mine Safety Disclosures 78 Item 5. Other Information 78 Item 6. Exhibits 79 Signature 81 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 Nine Months Ended (In millions, except share and per share amounts) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 (unaudited) (unaudited) Revenues Admissions $ 744.2 $ 797.7 $ 1,839.1 $ 2,075.9 Food and beverage 490.4 482.7 1,178.7 1,299.6 Other theatre 114.2 125.5 313.0 332.7 Total revenues 1,348.8 1,405.9 3,330.8 3,708.2 Operating costs and expenses Film exhibition costs 381.4 398.5 893.0 1,027.8 Food and beverage costs 89.7 90.1 222.6 243.2 Operating expense, excluding depreciation and amortization below 454.6 449.8 1,237.9 1,245.0 Rent 216.4 224.3 659.3 650.8 General and administrative: Merger, acquisition and other costs 0.1 0.7 0.1 1.5 Other, excluding depreciation and amortization below 54.0 54.4 160.7 184.8 Depreciation and amortization 80.8 88.7 241.2 279.1 Operating costs and expenses 1,277.0 1,306.5 3,414.8 3,632.2 Operating income (loss) 71.8 99.4 ( 84.0 ) 76.0 Other expense, net Other income ( 22.8 ) ( 15.9 ) ( 173.8 ) ( 10.0 ) Interest expense: Corporate borrowings 109.6 93.4 289.8 276.1 Finance lease obligations 1.0 0.9 2.5 2.8 Non-cash NCM exhibitor services agreement 9.0 9.4 27.5 28.5 Investment income ( 3.2 ) ( 3.0 ) ( 14.4 ) ( 11.4 ) Total other expense, net 93.6 84.8 131.6 286.0 Earnings (loss) before income taxes ( 21.8 ) 14.6 ( 215.6 ) ( 210.0 ) Income tax provision (benefit) ( 1.1 ) 2.3 1.4 4.6 Net earnings (loss) $ ( 20.7 ) $ 12.3 $ ( 217.0 ) $ ( 214.6 ) Net earnings (loss) per share: Basic $ ( 0.06 ) $ 0.08 $ ( 0.69 ) $ ( 1.43 ) Diluted $ ( 0.06 ) $ 0.08 $ ( 0.69 ) $ ( 1.43 ) Average shares outstanding: Basic (in thousands) 361,853 1