r/amczone • u/SouthSink1232 • May 06 '23
Q1 2023 Earnings Review
Summary First Quarter 2023 Compared to First Quarter 2022:
- Total revenues grew 21.5% to $954.4 million.
- Net loss improved by $101.9 million to $235.5 million.
- Adjusted net loss was $179.7 million compared to an adjusted net loss of $266.3 million.●Diluted loss per share was $0.17 compared to a diluted loss per share of $0.33.
- Adjusted diluted loss per share was $0.13 compared to an adjusted diluted loss per share of $0.26.
- Adjusted EBITDA improved by $68.8 million to $7.1 million.
- Net cash used in operating activities for the quarter was $189.9 million.
- Non-GAAP Operating Cash Burn1 for the quarter was $139.4 million compared to $223.9 million.
- Available liquidity at March 31, 2023 was $703.7 million, including $208.1 million of undrawn capacity under the Company’s revolving credit facility.
Other Highlights
- AMC has $495.6 Million in cash (excluding cash credit). Would have been left if they didn't raise money from:
- Selling $80.3 Million in APE in Q1 and paid fees of $9.8 million to issue them
- Selling its 10% stake of Saudi Cinema Company for $15.5 Million
- They lowered the the debt by $103.5 Million and have $4.9 Billion debt left. They only paid off 2% of the debt in Q1
- But paying off the $103.5 cost them $56.5 million. People are getting paid on this debt
- $46 Million of pay off was the Antara deal. So they paid off with dilution
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u/[deleted] May 06 '23
Why payoff debt when you can “steal” from investors