The stock market is starting to lose steam. After a record run, equities have turned sharply lower over the past few weeks.
While it wasn't quite the dramatic setbacks of Paramount Global and Warner Bros. Discovery this week, AMC Networks posted second-quarter financial results illustrating the perils of operating linear TV networks. The company's earnings were down significantly from the prior-year quarter and below Wall Street estimates. The programmer reported adjusted earnings per share of $1.
AMC Entertainment Holdings (NYSE:AMC) is expected to gain more market share as the cinema market rebounds, analysts at Wedbush believe. They see the cinema chain further expanding its market share from 22.5% in 2023 with its network of premium large-format screens and concert movie distribution.
Recently, Zacks.com users have been paying close attention to AMC Entertainment (AMC). This makes it worthwhile to examine what the stock has in store.
Movie theater company AMC Entertainment Holdings AMC is drawing praise from analysts for market share gains and a strong end to the second quarter, but balance sheet concerns remain after reporting quarterly results.
AMC Entertainment Holdings Inc., which reported second-quarter results after market close Friday, is set for market-share gains amid an improving box office, according to Wedbush.
AMC Entertainment Holdings, Inc. (NYSE:AMC ) Q2 2024 Results Conference Call August 2, 2024 5:00 PM ET Company Participants John Merriwether - Vice President, Capital Markets and Investor Relations Adam Aron - Chairman and Chief Executive Officer Sean Goodman - Executive Vice President and Chief Financial Officer Conference Call Participants Eric Wold - B. Riley Securities Chad Beynon - Macquarie Jason Bazinet - Citi Jim Goss - Barrington Research Alicia Reese - Wedbush Operator Greetings and welcome to the AMC Entertainment Holdings Inc. Second Quarter 2024 Earnings Webcast.
Although the revenue and EPS for AMC Entertainment (AMC) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
AMC Entertainment (AMC) came out with a quarterly loss of $0.43 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to break-even earnings per share a year ago.
Top exhibitor AMC Entertainment posted a loss of 10 cents a share and saw revenue slide 24% in the second quarter due to the strike-hit movie pipeline. Though they may have been shaky, however, the financials matched Wall Street analysts' estimates and shares in AMC gained ground in after-hours trading.
The movie-theater chain has struggled against a mountain of debt and mediocre films, but the tides seem to be turning.
Recent movie news bodes well for AMC Entertainment (NYSE: AMC ) stock as it reports earnings on Aug. 2. Although it released preliminary results last week, this could be a case of “buy the rumor, sell the news.