AMC’s preliminary results show stronger third quarter

AMC Entertainment reported preliminary third quarter results Monday showing that it collected more revenues and earned greater profits than a year ago.

The Leawood-based theater chain operator offered ranges for its results rather than specific totals. It released the information in connection with a $1.4 billion private sale of debt to help finance its pending acquisitions of Carmike Cinema Inc. and European-based Odeon & UCI Cinemas Holdings Limited.

Official results will be reported Nov. 7. Shareholders of Carmike Cinema are set to vote Nov. 15 on AMC’s offer of $33.06 a share, or 1.0819 shares of AMC for each Carmike share.

AMC said it earned between $28.5 million and $31.5 million in July, August and September, compared with $12.2 million a year earlier. The profit range equals 29 cents to 32 cents a share. It earned 12 cents a share a year earlier.

Revenues were between $777 million and $780 million, AMC said, compared with $688.8 million in the third quarter of last year.

Monday’s report was more specific about attendance and concessions revenues. Patrons paid an average ticket price of $9.57, up 2.6 percent from a year ago, and they spent an average of $4.80 on food and beverage, up 4.8 percent, AMC said.

Attendance climbed by 10 percent to 51.9 million.

This story was originally published October 24, 2016 at 10:33 AM with the headline "AMC’s preliminary results show stronger third quarter."