AMC Q2 earnings have shareholders excited for the future.
The movie theatre chain company had its best 2nd quarter in 3 years, seating more than 59 million guests, up 61% from two years prior.
But perhaps the biggest news yet for AMC Entertainment is its new and upcoming stock dividend, $APE.
Which I’ll discuss more about below.
Did AMC’s Q2 earnings live up to its hype?
Be sure to join the discussion at the end of the article and let the community know your thoughts.
Here are AMC Q2 earnings highlights for 2022.
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AMC yields positive results for Q2 2022
AMC Entertainment announced it had its best Q2 in 3 years, up 61% from its previous two years according to CEO Adam Aron.
The company was able to seat more than 59 million guests worldwide in Q2 alone, due to massive titles such as Doctor Strange: Multiverse of Madness and Top Gun: Maverick.
Top Gun Maverick is currently the highest grossing film this year nearing $1.3 billion at the box office.
In Q2, AMC had $52 million of positive operating cash flow and $107 million positive EBITDA, which is relative to the strength of a company.
The company ended Q2 with $1.18 billion in liquidity, a trend we’ve seen in the past with Q1 of 2022.
AMC announced it had reduced its deferred rent by more than $250 million and plans to reduce it by another $40 million ending the year.
While AMC has become a target for Wall Street firms and journalists, it looks like opposers will continue to eat crow for the time being.
The largest movie theatre chain in the world has become a force to be reckoned with.
AMC issues APE dividend
One of the most exciting news confirmed during AMC’s Q2 earnings call was that of the issue of a new dividend.
Investors holding AMC Entertainment stock by August 19 will be granted a new stock for each AMC share they hold under the stock ticker symbol $APE.
This will be an additional security and will not dilute AMC’s float as it is a separate stock.
The ticker symbol APE stands for ‘AMC Preferred Equity’.
AMC plans to use this currency as a means to pay down debt and raise additional cash.
The new currency will be available to all international AMC shareholders and will be tradable in the market.
So, was AMC’s Q2 earnings what you expected?
Leave a comment down below.
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So if i have 100 shares of amc. Then ill be given 100 shares of $ape
Correct 🦍
Ape is apecoin i see at currently 7.57 a share or does it mean something different?
My Understanding is you get one share for every share you have of AMC if you bought cash NOT margin before August 19th its value coming out is ONE penny for each share . Hey it is free and it will be traded on the New York stock exchange which means to me the stock could go up in value. I don’t know where you heard or came up with. $7.50 a share. I wish , it would drive the shorts CRAZY
ApeCoin is a cryptocurrency by the bored ape yacht club. That’s completely different from this $APE stock.
Frank thanks for your articles and for always keeping us updated, what I understand from what you reported, that all of us who have AMC shares, will be given a share with the symbol $APE, for example I have 100 shares, they give 100 AMC APE and these actions are independent, my question, do you know what the price of these actions will be? Will they be reflected in my Robinhooh stock automatically?
Let’s start a discussion! Leave your thoughts below.