AMC Entertainment's 'milestone' Q4 driven by success of newest Spiderman title

Cinema chain AMC Entertainment posted preliminary fourth-quarter earnings on Tuesday that indicated the firm was on track to return to profitability during the final months of the year.

AMC stated revenues for the three months ended 31 December were expected to be in excess of $1.17bn, a marked increase when compared to the $162.5m brought in during the year's pandemic-ravaged trough for the industry, primarily due to the massive success of SpiderMan: No Way Home.

While AMC still looked set to post a net loss of somewhere in the vicinity of $115-195.0m, the figure was still a marked improvement from the $950.0m loss it recorded during the holiday period last year. On an adjusted basis, AMC said it expects to earn between $146.8m and $151.8m for the quarter.

Chief executive Adam Aron said: "AMC's 2021 results improved significantly as the year progressed, and we finished the year with the strongest quarter in two years.

"The fourth quarter of 2021 marks a meaningful milestone with positive EBITDA of more than $145.0m, positive operating cash generated of more than $215.0m, and a record year-ending liquidity position of $1.8bn."

Aron also hinted that AMC may very well return to the black in the fourth quarter, thanks in part to increased film attendance, rising average ticket prices, soaring food and beverage sales, and an improving company balance sheet.