AMC Entertainment Shares Drop Ahead Of Rare Friday After-Hours Earnings Report
Portfolio Pulse from Henry Khederian
AMC Entertainment Holdings Inc (NYSE:AMC) shares dropped by 2.9% to $4.97 ahead of their rare Friday after-hours earnings report. Despite setting new records for weekend movie theater attendance and admissions, the company anticipates a loss of 10 cents per share, better than the projected 43 cents per share loss. The company also reported its highest food and beverage revenue for a single weekend since 2019.
August 02, 2024 | 3:33 pm
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POSITIVE IMPACT
Walt Disney Co (NYSE:DIS) benefited from the debut of 'Deadpool & Wolverine,' which set new opening weekend records for an R-rated film at AMC theaters. This contributed to AMC's highest food and beverage revenue for a single weekend since 2019.
The success of Disney's 'Deadpool & Wolverine' at AMC theaters positively impacts Disney by demonstrating strong performance of its film properties. This could lead to increased investor confidence in Disney's content strategy.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
NEGATIVE IMPACT
AMC shares dropped 2.9% ahead of their rare Friday after-hours earnings report. Despite record weekend attendance and high food and beverage revenue, the company anticipates a loss of 10 cents per share, better than the projected 43 cents per share loss.
The drop in AMC's share price ahead of the earnings report indicates investor uncertainty. The rare timing of the report and the company's history of high volatility contribute to this. Despite positive preliminary numbers, the market's reaction is cautious.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100