Adam Aron on theaters reopening, partnership with Disney
AMC Entertainment Holdings Inc. reported a loss for the first quarter, but the loss narrowed compared with recent periods as life in the U.S. starts to get back to normal amid increased Covid-19 vaccinations.
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AMC’s loss attributable to the company was $566.9 million, compared with a loss of $2.18 billion a year earlier. The company’s loss was $1.42 a share, compared with $20.88 a share a year ago.
The movie-theater company reported revenue of $148.3 million, down 84% from the comparable quarter a year ago.
The company reported 6.8 million attendees for the quarter, 6.2 million of which were in U.S. markets.
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“We finally can now say that we are looking at an increasingly favorable environment for movie-going and for AMC as a company over the coming few months,” Chief Executive Adam Aron said in prepared remarks, citing vaccinations in part.
The company said Thursday that as of the end of last month, it was operating most of its nearly 600 U.S. locations. About 110 of its over 350 international locations were in operation as well.
AMC released preliminary results for the quarter late last month.
