AMC Entertainment Inc.
AMC,
offered guidance for the fourth quarter on Tuesday, with revenue ahead of consensus but a net loss range that is wider than expected. The company expects revenue of about $1.172 billion, up from $162.5 million in the year-earlier quarter. The FactSet consensus is for revenue of $1.093 billion. But the cinema-chain operator expects its net loss to range from $194.8 million to $114.8 million, compared with a loss of $946.1 million a year ago and a consensus of $119 million. The loss includes non-cash impairment charges of $50 million to $125 million on long lived assets. Operating cash burn is expected to total about $216.5 million. The company ended the quarter and year with $1.8 billion in liquidity. Shares were up 15% premarket and have gained 20.8% in the last 12 months, while the S&P 500
SPX,
UPDATE: AMC offers Q4 guidance with revenue ahead of consensus but a wider-than-expected loss. stock jump 15%
