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AMC Theatres Narrows Q4 Loss 80%

AMC Entertainment, corporate parent of the nation’s largest movie exhibitor AMC Theatres, Feb. 1 released preliminary fourth-quarter fiscal results for the three-month period ended Dec. 31, 2021.

Driven in part by the box office phenom Spider-Man: No Way Home, total revenue topped $1.17 billion, compared with $162.5 million in the previous-year period. The net loss narrowed between $194.8 million and $114.8 million, which includes an estimated non-cash impairment charge related to long lived assets of $50 million to $125 million.

That compared with a net loss of $946.1 million in Q4 2020, which included a non-cash impairment charge related to long lived assets, definite and indefinite lived intangible assets and goodwill of $466.1 million.

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Pre-tax earnings range from $146.8 million to $151.8 million, compared with a pretax loss of 327.5 million in 2020.

“AMC’s 2021 results improved significantly as the year progressed, and we finished the year with the strongest quarter in two years,” CEO Adam Aron said in a statement. “The fourth quarter of 2021 marks a meaningful milestone with positive [pretax earnings], positive operating cash generated of more than $215 million, and a record year-ending liquidity position of $1.8 billion.”

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