ACM Sees 2016 Profit And Revenue Topping Estimates

By Ciara Linnane Markets MarketWatch Pulse

Movie theater chain AMC Entertainment on Monday offered guidance for full-year 2016 that topped consensus estimates, following its acquisition of two other theater chains. The company said it expects EPS of $1.13 to $1.21, compared with $1.06 for 2015. The current FactSet consensus is for 2016 EPS of $1.02. Revenue is expected to range from $3.226 billion to $3.236 billion, up from $2.947 billion in 2015. The FactSet consensus is for revenue of $3.145 billion. "Industry wide, U.S. box office revenue for 2016 increased approximately 2% compared to 2015, while industry box office for the fourth quarter of 2016, impacted by challenging comparisons related to last year's opening of the largest grossing film of all time, Star Wars: The Force Awakens, declined approximately 4%," the company said in a statement. The numbers include the results of Odeon for the 32-deay period from the completion of its acquisition on Nov. 30, as well as for Carmike for the 11-day period from the closure of that deal on Dec. 21. AMC is expecting to report final numbers on Feb. 28. Shares were not yet active in premarket trade, but have gained 56% in the last 12 months, while the S&P 500 has gained 19%.

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