Q4 2024 AMC Entertainment Holdings Inc Earnings Call Transcript
Key Points
- AMC Entertainment Holdings Inc (AMC) reported a significant increase in revenue, up 18% year over year for the fourth quarter of 2024.
- The company achieved a post-pandemic record for adjusted EBITDA, which more than tripled to $164.8 million compared to the previous year.
- AMC generated over $200 million in cash from operating activities and $114 million in free cash flow, marking the highest quarterly cash flow post-pandemic.
- Attendance at AMC theaters worldwide increased by 20% in the fourth quarter of 2024, with over 62 million guests visiting.
- AMC achieved all-time records for food and beverage revenue per patron, driven by innovative offerings and enhanced guest experiences.
- Despite improvements, AMC's domestic industry-wide movie theater attendance remains down nearly 40% from pre-pandemic levels.
- The company continues to face challenges with the timing of film releases and audience attendance patterns, impacting cash flow.
- AMC's admissions revenue per patron declined by approximately 2.4% compared to Q4 2023, when not normalized for special events.
- The company is constrained by limited access to growth capital, affecting its ability to increase CapEx for expansion initiatives.
- AMC's share price has declined over the past three years, causing concern among shareholders and impacting investor sentiment.
Greetings and welcome to the AMC Entertainment Holdings, Inc., fourth quarter and full-year 2024 earnings webcast. (Operator Instructions) As a reminder, this conference is being recorded.
It's now my pleasure to turn the call over to John Merriwether, Vice President, Capital Markets and Invest Relations. Please go ahead, John.
Thank you, Kevin. Good afternoon. I'd like to welcome everyone to AMC's fourth quarter and full-year 2024 earnings webcast. With me this afternoon is Adam Aron, our Chairman and CEO; and Sean Goodman, our Chief Financial Officer.
Before I turn the webcast over to Adam, let me remind everyone that some of the comments made by management during this webcast may contain forward-looking statements that are based on management's current expectation. Numerous risks, uncertainties, and other factors may cause actual results to differ materially from those that might be expressed today. Many of these risks and
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