AMC Entertainment, parent of world’s largest cinema chain AMC Theatres, sent chills throughout Hollywood with a rough second-quarter earnings report that the company largely attributed to a weak summer movie slate.“While we strongly believe AMC is well positioned for the future, and are confident in the long term prospects for AMC to drive revenue and earnings growth, we are nonetheless extremely disappointed by AMC’s financial and operating results for the second quarter of 2017,” AMC CEO and President Adam Aron said in a statement.AMC had hoped to soften the blow by releasing updated guidance late Wednesday, ahead of earnings, that blamed a soft summer box office for weaker-than-expected second-quarter performance.AMC attributed a big chunk of the second-quarter loss to a pre-tax impairment charge related to AMC’s investment in theater advertising company National CineMedia, whose market value had declined significantly below the value for which AMC had been booking the investment.The company also pointed at a weak second-quarter box office — AMC said the U.S. box office gross for that period dipped 4.4 percent compared with 2016 in its Wednesday release — and a third-quarter film slate that also projects to be soft as reasons for its disappointing results.
NYS Entity Status
NYS Filing Date
APRIL 04, 2014
NYS DOS ID#
2071 COUNTRY ROAD 139 UNIT C
OVID, NEW YORK, 14521
NYS Entity Type
DOMESTIC LIMITED LIABILITY COMPANY
2014 - AMC PERFORMANCE GOLF LLC
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