AMC Entertainment First Quarter Sales Increase, Losses Reduced; Adam Aron says, “When Hollywood releases movies that viewers want to see, people go to the movies.”

AMC Entertainment, a giant movie theater network, quintupled its revenue and its losses dropped dramatically due to continued box office recovery.

“When Hollywood releases the movies they want to see, many people flock to theaters to see the movies that were made to see, in theaters, on the big screen,” said Theatrical Business CEO Adam Aaron. now together Doctor Strange in Many Worlds of Madness.

“Our results for the first quarter of 2022 represent AMC’s strongest first quarter in two full years. We continue the pandemic recovery trajectory instead of multiplying revenues and correcting Adjusted EBITDA by nearly eighty percent from the previous year. “The significant advancements that AMC has made are very beneficial as our guests continue to recognize the unprecedented cinematic experience that AMC offers,” he said.

Aaron named upcoming films, including this year’s. Top Gun: Maverick, Jurassic World Dominion, Lightyear, Thor: Love and Thunder, Minions: The Rise of Gru, Black Panther: Wakanda Forever To provide “something for everyone” and culminated with the delivery of James Cameron Avatar 2The long-awaited sequel to what was his highest-grossing film at the time of its original release
Forever.

Shares in late trading were up more than 4% after falling 9% during the session. Aaron will have a call starting at 5 p.m. ET to discuss the numbers and outlook.

Reflexes:

Total revenue increased to $ 785.7 million from $ 148.3 million in the first quarter of 2021.

The net loss improved to $ 337.4 million from a net loss of $ 567.2 million in the first quarter of 2021.

Adjusted EBITDA improved by $ 233.0 million and a loss of $ 61.7 million from a loss of $ 294.7 million in the first quarter of 2021.

Cash available as of March 31, 2022 was $ 1,376.0 million.

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