Домой United States USA — Art AMC Theatres Lost Between $2.1 Billion and $2.4 Billion in Q1

AMC Theatres Lost Between $2.1 Billion and $2.4 Billion in Q1

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Coronavirus ravages theater chain, which says it is «generating effectively no revenue»
AMC Entertainment lost between $2.1 billion and $2.4 billion in the first quarter of 2020 due to the coronavirus pandemic, the company revealed on Wednesday.
At this time, AMC’s financials are unaudited. The official Q1 results will be released on June 9, when executives will hold a conference call with media analysts.
AMC’s total revenues in Q1 were approximately $941.5 million. Last year, the comparable quarter generated $1.2 billion.
Also Read:AMC Theatres CEO Adam Aron Made $9.7 Million in 2019
The first quarter cut off at the end of March. In the U. S., Q2 will be even worse than Q1.
Even adjusting out the impact of COVID-19, AMC would have lost more than twice what it did in Q1 2019. Free cash flow is in the negative, as you might imagine. As of April 30,2020, AMC had a cash balance of $718.3 million, the company said. That’s including $215 million of borrowings under a senior secured revolving credit facility.

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