Sam Boughedda

Investing.com — Following the release of preliminary fourth-quarter results by AMC Entertainment Holdings Inc, AMC Entertainment Holdings Inc’s shares surged 14% Tuesday. 

AMC reported that the total revenue for quarter was $1.17 Billion, a significant increase from last year’s $162.5 Million. 

This was followed by a severe pandemic that led to enforced lockdowns. However, the lifting of restrictions in the second half of 2021 and some blockbuster movie releases have pushed the company’s preliminary results — which aren’t official — above consensus.

It is anticipated that the company will lose between $194.8m and $114.8m during this period. The estimated non-cash impairment fee of $50 million-$125 million was also included. This compares to $946.1 million in net losses during the same period last year, which also had a noncash impairment charge totaling $466.1 millions.

“AMC’s 2021 results improved significantly as the year progressed, and we finished the year with the strongest quarter in two years,” said Adam Aron, chairman and CEO of AMC Entertainment.

“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.”