AMC Entertainment (NYSE:AMC) is set to report its fourth-quarter earnings and 2023 full-year results tomorrow after the market close. Shareholders should be sure to tune into the accompanying webcast, as CEO Adam Aron previously posted on X (the platform formerly known as Twitter) that he will have “much to say.” AMC will also take questions from AMC Investor Connect members and analysts during the event.
It hasn’t been a pretty so far year for the 2024 box office, which Aron attributes to the lingering effects of the 2023 actors and writers strikes. So far, The Beekeeper is the highest-grossing film of 2024 with $149.64 million in sales, followed by Bob Marley: One Love with $120.58 million. These figures pale in comparison to the leaders of the 2023 box office. Barbie brought in $1.44 billion while The Super Marios Bros. Movie took in $1.36 billion.
AMC Stock: 3 Things to Watch When AMC Entertainment Reports Tomorrow
The first metric to look out for with AMC tomorrow is revenue. Analysts expect quarterly revenue of $1.046 billion, which would signal year-over-year (YOY) growth of 5.54% and a quarter-over-quarter decline of 25.61%. For 2023, analysts expect $4.754 billion in revenue, reflecting YOY growth of 21.54%. At the same time, revenue is still expected to be way below 2019’s revenue of $5.471 billion.
Next up is GAAP EPS, which reflects profitability. Unfortunately, AMC is expected to revert back to unprofitability with a forecasted Q4 GAAP EPS loss of 67 cents compared to 8 cents during Q3. Adjusted net income is forecast to be a loss of $142 million, improving from a loss of $153 million a year ago. For the full year, analysts expect AMC to report a GAAP EPS loss of $2.15 compared to a loss of $8.21 a year ago.
Finally we have guidance, which is just as important as earnings. For Q1, revenue is expected to drop by 7.94% YOY to $879 million. Furthermore, GAAP EPS is expected to be a loss of 85 cents while adjusted net income is expected to be a loss of $203 million. Those aren’t exactly encouraging forecasts.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
