Theater-chain AMC Entertainment shared an unaudited version of its fourth-quarter 2021 financials on Tuesday, revealing a net loss of between $194.8 million and $114.8 million.
In terms of revenue, however, AMC soared from $162.5 million in the three months ended Dec. 31, 2020 to $1.17 billion in Q4 2021. That marks the best quarter for the company in two years.
Plus, considering AMC lost $946.1 million in the comparable 2020 quarter, things are looking up. All of that explains why company stock is up about 9% this morning in pre-market trading. And when the U.S. stock markets officially opened at 9:30 a.m. ET/6:30 a.m. PT, AMC shares jumped a few more points.
While there’s good news and positive market movement here, AMC shares are nowhere near the wild surge they enjoyed in June. But they’re also comfortably ahead of the year-ago low.
AMC shares have a 52-week high of $72.62 and a low of $5.26. As of Tuesday’s opening bell, the stock is currently trading at almost $18 per share.
Much of the climbing portion of that roller-coaster ride can be attributed to Redditors boosting the AMC stock price in the first half of 2021. The rest can be attributed to vaccines, hope and the promise of delivering on a strong slate of theatrical releases.
“AMC’s 2021 results improved significantly as the year progressed, and we finished the year with the strongest quarter in two years,” Adam Aron, the company’s chairman and CEO, said in a statement accompanying the unaudited financial results. “The fourth quarter of 2021 marks a meaningful milestone with positive EBITDA of more than $145 million, positive Operating Cash Generated of more than $215 million, and a record year-ending liquidity position of $1.8 billion.”
AMC Entertainment said it released the preliminary fourth-quarter financial information “in advance of potential investor meetings.”