The Batman came out in March, with Fantastic Beasts: The Secrets of Dumbledore releasing in April. For example, Top Gun: Maverick debuted in May, shortly after Doctor Strange in the Multiverse of Madness. That's true despite much bigger and better box office draws in 2022. AMC's net losses and its negative operating cash flow were both worse during the first couple quarters of this year than they were in the past couple quarters of last year. Take a closer look at the graphic above, though. This is true in terms of operating cash flow and operating income. And bear in mind that AMC was regularly in the red even before the COVID-19 contagion took hold. The theater chain remains in the red despite the measurable ticket-sales rebound from pandemic-prompted shutdowns in 2020, and then 2021's slow easing back to normalcy. If AMC Entertainment is in a dramatically different situation than Cineworld, it might be wise for the company to start explaining exactly how. Labor Day weekend's box office was the worst Labor Day weekend in years, underscoring the tepid ticket sales we've seen since late July. The company is still bleeding money, and after a firm rebound in movie-going this year, consumers' interest in the theater experience is waning again. To suggest AMC isn't facing a similar situation to Cineworld, however, may not be entirely accurate. ![]() His company ended the second quarter of the year with nearly $1 billion worth of cash, and just last month secured the right to issue - sell - 483.2 million shares of its newly minted preferred stock, AMC Preferred Equity ( APE -6.55%). ![]() That's the word from AMC's chief executive Adam Aron, anyway, who tweeted on Wednesday that "AMC is in a very, very different situation." Aron goes on to explain that "retail investors embraced us and let us raise boatloads of cash."Īnd he's right. ![]() Regal Cinemas parent Cineworld Group ( CNNW.F -3.73%) may have filed for bankruptcy (again) last week, but rival AMC Entertainment ( AMC -1.83%) isn't in the same dire straits.
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