The bank is worried about the theater owner’s high debt levels. Indeed, with AMC’s total debt standing at $10 billion as of the end of last quarter, far outweighing its market capitalization of $2.57 billion, I think that’s a very valid concern.
AMC’s Fourth-Quarter Results Were Uninspiring In the fourth quarter of 2022, AMC’s operations burned $33.3 million of cash, while its net loss, excluding certain items, rose to $153 million from $57.2 million during the same period a year earlier. Moreover, its EBITDA, excluding certain items, tumbled to $14.5 million from $159.2 million.
The financial results indicate that AMC’s business is still deteriorating, and I don’t see any reason to believe that the latter situation will change over the longer term.
The Bottom Line on AMC Stock The movie theater business is reeling (no pun intended), AMC’s dent load is staggering, many smart people are bearish on AMC stock, the company’s Q4 results were unimpressive, and the shares appear to be vastly overvalued.
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