AMC Entertainmentswung to a profit last quarter and saw revenue jump 45%, besting Wall Street forecasts.
CEO Adam Aron found the numbers quite satisfying.
Sales surged to $1.4 billion.BarbieandOppenheimerreleased in late July were standouts.
‘Barbie’ and ‘Oppenheimer’Warner Bros/Universal
The results didnt includeTaylor Swift: The Eras Tour, which didnt open until after the third quarter ended.
Its grossed about $232 million worldwide since opening Oct. 13.Renaissance: A Film by Beyoncewill debut Dec. 1.
AMC is distributing both, launching a lucrative new business line.
That success is because our contribution per patron was up 30% versus 2019.
Diluted earnings per share improved of $0.08 compared with negative $2.20 the year before.
Adjusted EBITDA swung to $194 million from negative $12.9 million.
Cash and cash equivalents at September 30 was $729.7 million.
To do that, it had to win approval by a judge in a convuluted Delaware Chancery Court case.
There has been and will be much collateral damage from these lengthy work stoppages.
