Will AMC Stock Fall on Earnings Miss?
NEW YORK (TheStreet) -- AMC Entertainment Holdings (AMC) - Get Report reported lower than expected 2015 third quart financial results this afternoon.
The movie theater company reported earnings of 12 cents per share on $688.8 million in revenue for the quarter ended September 30.
Analysts had estimated for earnings of 17 cents per share on $690.7 million in revenue for the latest quarter.
Admissions revenue increased year-over-year to $441.3 million, while food and beverage revenue grew to $216.8 million.
Attendance rose by 7.4% to 47.3 million movie-goers during the third quarter.
"We believe that through relentless innovation, the AMC guest experience differentiates us from our competition and is driving our third quarter record $4.58 food and beverage revenue per patron," interim CEO Craig Ramsey said in a statement.
AMC stock is up by 0.31% to $27.58 in after-hours trading on Monday.
Separately, TheStreet Ratings team rates AMC ENTERTAINMENT HOLDINGS as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate AMC ENTERTAINMENT HOLDINGS (AMC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, generally higher debt management risk and poor profit margins.
You can view the full analysis from the report here: AMC
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