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![AMC ENTERTAINMENT HOLDINGS, INC. [APE] reports annual net loss of $396,600,000.0](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FAPE.png&w=1200&q=75)
AMC ENTERTAINMENT HOLDINGS, INC. [APE] has reported a net loss of $396,600,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $4.8 billion
Based in LEAWOOD, Kansas, AMC ENTERTAINMENT HOLDINGS, INC. operates in the SERVICES sector.
Consolidated Statements of Operations (in USD, in millions)
12 Months Ended Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2021
Revenues
Total Revenues: $4,812.6M $3,911.4M $2,527.9M
Operating Costs and Expenses
Operating Expense (excluding depreciation and amortization): $1,691.5M $1,528.4M $1,141.8M
Rent: $873.5M $886.2M $828.0M
General and Administrative:
Merger, Acquisition, and Other Costs: $1.7M $2.1M $13.7M
Other (excluding depreciation and amortization): $241.9M $207.6M $226.6M
Depreciation and Amortization: $365.0M $396.0M $425.0M
Impairment of Long-Lived Assets: $106.9M $133.1M $77.2M
Operating Costs and Expenses: $4,886.9M $4,433.7M $3,457.9M
Operating Loss: $(74.3)M $(522.3)M $(930.0)M
Other Expense, Net:
Other Expense (Income): $(69.1)M $53.6M $(87.9)M
Interest Expense:
Corporate Borrowings: $369.6M $336.4M $414.9M
Finance Lease Obligations: $3.7M $4.1M $5.2M
Non-Cash NCM Exhibitor Services Agreement: $37.9M $38.2M $38.0M
Equity in (Earnings) Loss of Non-Consolidated Entities: $(7.7)M $1.6M $(11.0)M
Investment Expense (Income): $(15.5)M $14.9M $(9.2)M
Total Other Expense, Net: $318.9M $448.8M $350.0M
Net Loss Before Income Taxes: $(393.2)M $(971.1)M $(1,280.0)M
Income Tax Provision (Benefit): $3.4M $2.5M $(10.2)M
Net Loss: $(396.6)M $(973.6)M $(1,269.8)M
Net Loss Attributable to AMC Entertainment Holdings, Inc.: $(396.6)M $(973.6)M $(1,269.1)M
Net Earnings (Loss) Per Share Attributable to AMC Entertainment Holdings, Inc.'s Common Stockholders:
Basic: $(2.37) $(9.29) $(13.29)
Diluted: $(2.37) $(9.29) $(13.29)
Average Shares Outstanding:
Basic (Shares in Thousands): 167,644 104,769 95,482
Diluted (Shares in Thousands): 167,644 104,769 95,482
The comparison of the financial performance for the year ending December 31, 2023, with the same period in 2022 and 2021 indicates a significant increase in total revenues, operating expenses, and net losses. The company reported a total revenue of $4,812.6 million in 2023, compared to $3,911.4 million and $2,527.9 million in 2022 and 2021, respectively.
Operating costs and expenses also rose over the years, with operating expenses, excluding depreciation and amortization, reaching $1,691.5 million in 2023, compared to $1,528.4 million and $1,141.8 million in 2022 and 2021, respectively. The company reported a net loss of $396.6 million in 2023, an improvement from $973.6 million in 2022 and $1,269.8 million in 2021.
Furthermore, the earnings per share for both basic and diluted amounts also decreased significantly from $(2.37) in 2023 compared to $(9.29) in 2022 and $(13.29) in 2021. The average shares outstanding remained consistent over the years at 167,644 shares in thousands for both basic and diluted calculations.
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