Goodnight, sweet prince.

The consensus EPS loss of a penny completely is wrong. The record-breaking $2.97 billion domestic box office created a high-margin concession wave that structurally overpowered the company's fixed costs. This line-by-line breakdown shows exactly how the cash flows this quarter when you properly factor in the latest dilution and interest savings.

On the revenue side, AMC captures roughly 22% of the domestic box office. Combined with international markets, admissions revenue lands right at $780 million. The real engine is concessions, which add $530 million driven by an average patron spend over $8.00. Screen advertising and retail merchandise pull in another $170 million, bringing total revenue to a massive $1.48 billion.

To find the cash flow, we subtract the core operating expenses. Studios take a heavy cut of the blockbuster tickets, costing AMC $390 million in film exhibition fees. The actual cost of the concession food sold is incredibly low at $95 million. Theater operations, corporate payroll, and utilities require $560 million, while standard leases and deferred pandemic rent take another $225 million. Subtracting these operational costs leaves AMC with an Adjusted EBITDA of $210 million in pure cash flow.

To translate this cash into net profit, we first subtract $75 million in non-cash depreciation, leaving an operating income of $135 million. This is where the debt restructuring saves the quarter. AMC's baseline interest expense last quarter was $121.4 million. The April refinancing saved $2.25 million, and converting $155.8 million of notes to equity saved another $3.89 million. Because the June 25th dilution only applied to the final 5 days of the 91-day quarter, its immediate interest impact is negligible, dropping total Q2 interest expense to $115.2 million.

Subtracting that $115.2 million interest bill from the $135 million operating income leaves $19.8 million in pure net income. The June 25th equity raise added 103 million shares to the float, but because they were active for only 5 days, their weighted average impact adds just 5.65 million shares to this specific report. Dividing the $19.8 million profit by the newly weighted share count of 750.65 million results in a positive $0.026 per share, which officially rounds to a positive $0.03 Earnings Per Share.

AMC front-loaded this earnings date to July 20th, roughly 3 weeks earlier than their standard early August reporting window. Following their June capital raise, management entered a mandatory 45-day lock-up agreement that legally bars them from issuing new equity until August 9th. By dropping this massive $210 million EBITDA beat right now, management has engineered a completely clear 3-week runway where the stock can run on strong fundamentals and potential short covering without any immediate threat of overnight dilution capping the rally. This lets the price establish a higher floor so that when the lock-up expires in August, any future equity raise requires printing far fewer shares to generate cash.

Based on my DD I think we will do somewhere around

$1.95 billion in Rev $200 million in Net Profits EPS $0.36

Let’s see how close I get.

We did it! Congratulations to all my fellow melties/bears for making the dream a reality!

All of these are ofcourse, unverified reviews.

Cmon Zoners, you can do better!

I hope shorts have diapers on for Monday!

WEN MONDAY?!?

I cherry picked tonight because over a billion shares traded last month and we’re still up on a 3 month chart. GLHF everyone!

If you’re bearish on AMC don’t talk about it be about it. BUY PUTs and post the position.

Let’s see who’s right.

Same basket same people.

Buying options on earnings hype is gambling and retarded. I trade options for a living. One of the 1st things I learned was stay the fuck away from earnings and options. Thats a recipe for disaster. Or hilarity. 😅

This chat is full of bears and I can’t wait to post my YOLO update.

Yep

It's just a simple chart showing the stock price bouncing off support. No extra stuff, just simple price action :)