Cinema giant AMC Theatres expects to report a first-quarter loss of up to $2.4 billion, driven by a big impairment charge amid the novel coronavirus pandemic. Details:
Cinema giant AMC Theatres disclosed Wednesday that it expects its first-quarter financials, which were during the second half of March hit by the shutdown of its circuit, to include a loss of up to $2.4 billion, driven by a big impairment charge amid the novel coronavirus pandemic.
AMC Theatres said in a regulatory filing that it would post a loss of $2.1 billion-$2.4 billion due to the charge of $1.8 billion-$2.1 billion "related to estimated long lived assets, indefinite-lived intangible assets and goodwill." The firm's adjusted net loss for the first quarter will come in around $224.5 million, compared to $101.8 million in the same period a year ago, the filing showed. "Adjusted net loss normalizes results for the impact of fair-value re-measurement of the derivative liability and derivative asset related to the company’s convertible notes due 2024 and the impact related to the impairment of long lived assets, indefinite-lived intangible assets and goodwill.
AMC said its revenue for the first quarter fell about 22 percent to approximately $941.5 million from $1.2 billion. AMC also said in its filing: "We have begun to ramp up our cash spend with the intention of reopening theaters this summer. We believe we have the cash resources to reopen our theaters and resume our operations this summer or later. Our liquidity needs thereafter will depend, among other things, on the timing of a full resumption of operations, the timing of movie releases and our ability to generate revenues.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Cinemark Swings to Quarterly Loss Amid Pandemic, Eyes Reopening From June 19Cinema giant Cinemark swung to a first-quarter loss as the novel coronavirus pandemic hit its results. The company, led by CEO Mark Zoradi, also said it plans to reopen in several phases starting on June 19.
続きを読む »
Volkswagen closes $2.6 billion investment in self-driving startup Argo AIGerman automaker Volkswagen AG has closed its $2.6 billion investment in Argo AI, the Pittsburgh-based self-driving startup disclosed in a blog post on Tuesday.
続きを読む »
Vanessa Bryant responds to George Floyd death by posting photo of Kobe wearing an 'I Can't Breathe' shirtAfter the death of George Floyd, Vanessa Bryant posts a 2014 photo of her late husband Kobe, urges people to 'drive out hate' and 'spread love.'
続きを読む »
Betsy DeVos Earned At Least $56 Million While In Office Last YearLast year, Forbes estimated that the Secretary of Education, her husband and their four adult children are together worth roughly $2 billion.
続きを読む »
Apple is heading towards a $2 trillion valuation, says Evercore ISI. Here's how it gets thereNew for subscribers: Apple is heading towards a $2 trillion valuation, says Evercore ISI. Here's how it gets there Check out CNBCPro for a free trial.
続きを読む »
Meet the TV writer reconsidering modern Britain's 'beautifully ludicrous' historyJames Graham seeks to understand his country's history through his work, including 'Brexit,' 'The Crown' and AMC's new game show cheating drama, 'Quiz.'
続きを読む »