Movie-theater chain AMC has not reported a profitable quarter on a GAAP basis since nearly a year before the pandemic, in the second quarter of 2019, and has not been profitable for a full year since 2018.
AMC Entertainment Holdings Inc. reported a loss for a 14th consecutive quarter and fourth consecutive year Tuesday, and shares fell in after-hours trading.
The company’s stock initially gained in after-hours trading Tuesday following the release of the results, but then fell about 6% in the extended session. Shares of the meme-stock darling closed regular trading with a 6.2% decline at $7.14, and have fallen 38.4% in the past 12 months. The stock hit a 52-week high of $21.09 on March 29, 2022.
Aron said that AMC has been “masterful” in raising equity as needed. The company ended the quarter with $842.7 million of liquidity. Related: AMC highlights strong opening weekend for ‘Avatar: The Way of Water’, raises $162 mln through APEs
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