AMC Entertainment Holdings Inc (NYSE:AMC) is trading higher Tuesday morning after the company announced preliminary fourth-quarter financial results.
AMC reported preliminary quarterly revenue of $1.1716 billion, which is above the estimate of $1.09 billion and up from $162.5 million year-over-year. The company said it expects its net loss to be between $194.8 million and $114.8 million, compared to a net loss of $946.1 million in the same quarter last year.
AMC expects adjusted EBITDA to be between $146.8 million and $151.8 million and total liquidity to exceed $1.8 billion.
"AMC’s 2021 results improved significantly as the year progressed, and we finished the year with the strongest quarter in two years," said Adam Aron, chairman and CEO of AMC Entertainment.
AMC was the top trending stock on Stocktwits at publication time.
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AMC Price Action: AMC has traded as low as $5.26 and as high as $72.62 over a 52-week period.
The stock was up 13.7% at $18.26 at time of publication.
Photo: Dave Dugdale from Flickr.
