AMC Entertainment reports Q2 adjusted EPS (5c), consensus (8c)

Reports Q revenue $1.397B, consensus $1.34B. Adam Aron, Chairman and CEO of AMC commented, “In this Q2, AMC showcased the impressive operating leverage inherent in our business. AMC’s revenue growth of 35.6% above last year’s second quarter drove an Adjusted EBITDA increase of 391.4%, to a highly gratifying $189.2M. That was $150.7M more Adjusted EBITDA than was posted in last year’s Q2. It is a simple reality, and hopefully a harbinger of things to come that as AMC’s revenues grow, our EBITDA can soar. With such a sizable increase in adjusted EBITDA, net cash provided by AMC’s operating activities in the quarter surged to a positive $138.4M, a dramatic turnaround from last year’s net cash used in second quarter operating activities of $34.6M, and a total favorable swing of $173.0M quarter over quarter.”