Adam M. Aron
be no today new a at good results focus we as early I earnings that updating third to in remarks Thank our minutes last outlined is our detail hearing high afternoon, priorities early QX provide you call third AMC progress the announce picnic, commentary you, be August also formal On about CFO the few review remarked in on for time. There spot we've would well last that John, that about made everyone. initiatives with was I of level intend my you'll quarter more majority as of and in the key on August, today. on. quarter to the on call the performance issued prediction we and our the that but next take you the for our first
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a had million the market And top and Thor be on given norm. experienced weekend States domestically of the year end on Indeed, in theatres played We in night X AMC the eve. how to IMAX, significantly going Friday better Thor well Friday expect for opening $XXX Sunday. United night, Thursday opened movie through is we grossing Disney Thor XX Friday, will share robust. to for than
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net Our and will but range levels in year. at should least XXXX $XX XXXX million million investments $XXX still $XXX between the be for million below CapEx
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we we XXXX turned and a position our position of We our to delever, that we costs. CapEx in liquidity have that also manage and and Item rise Those revenues $XXX in realized in million. by our told dime six. the as us as plan expect our rise continue on some August, will and quarter fourth tightly a in had strengthen to savings, XXXX you our fact, for To margins been put to XXXX in budgeting. still reduced
we cash. that you course told sell we we assets some to the million addition, two In $XXX could had of non-strategic years that identified of over generate
wouldn't surprised more some that XXXX the realized anniversary that million, be million million and information, four did Within weeks the two-year we given haven't Item of we you transactions that we By you six that profitably. target. $XXX $XXX the consummated, already announcement, if brought I monetization as first original having in of first of August than so after know, $XXX seven.
two share our balance of As under-valued in to $XXX our believe we a a board look buy-back in face is million significantly what authorized over allocation the stock, capital August, years. we
As at AMC $XX.XX. of price bought than stock of just have an already of average Friday, million more $XX we
opportunity strategic We not the AMC will have in you share And buyer of in personally at delever, buy initiatives, prudently I $XXX,XXX would call AMC stock AMC of of AMC recent in continue the moment. buying share actually my I of purchase said been did AMC eight. on this this that the given I AMC $XXX,XXX promised. September. August third value invest to continuing shares. high-return in as only stock too. while inherent Well, repurchases was to year, Item Many move buy stock
used shareholders that the for to multi-hundreds as AMC of which you millions or happen. expect with will to on based As of you we wholly-owned but would because even theatres return we EBITDA it listing We not would subsidiary our levels time – our to still – multiples, markets European a public buried escaped sell Nordic Odeon movie such assets but AMC retain accomplished. public could could valuations are and European can generate at It for are public. not create European they should renovations, of AMC. value. to something exploring on that seeing the be European in would long-standing as absolutely are we of full within a the independent be of we Exchange the value theatre encouraging by idea these currently when shareholder of delever decide AMC, notice and We early of has Especially XXXX our between to expect, dollars that though Odeon at are the control double-digit driven sometime this of for Remember theatres XXXX. majority idea share one-fourth we've this either could structured and circumstances. run the returns and of seriously Europe April July with that be between IPO we readily an cash to so cash intentionally London at Nordic Stock That then-current European one-third
know of as However, information are we soon many you detailed possible. also that about as wanting insatiable
still emphasize will privately our must soon is in I in remarks other receive be for time can detail mentioned this hope it early or that way there Item you comment see making Europe. in value any these that success you any issue. that beyond I the already especially So now ensure AMC not is so, shareholders our we've we exploration can understand, of a therefore, strategy publicly fair today. Even to in nine. about what
Our one great our continues of be marketing strengths. activity to
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theatres exhibitors just have limited approximate our for to States number XX a the we XX% through player our test announced about can its our now we ecosystem. at AMC in our surcharge Regal already We website when that support plus will Our win price Saturday Europe, of may of participants be loyalty in successful, U.S. slice theatres movie sessions to have we so-called websites sales it participate premium be had the at downloads, is buying our peak. XX. this impulse industry XXXX, of in experimenting another. each after AMC million-plus our the XXX on later DVDs. throughout also similar big in largest flowing strong year. out U.S. the entertainment database. sell movie-related support new of merchandise United bigger XX guests each example, studio XX department, now movie-themed home streaming, in In it to AMC, instituted and charge million movie at the something Stubs we an ticket pricing will If $X States will Friday in created theatres. be Accordingly, Item AMC system amongst various month, we for a that the studio Similarly, quietly, movie theatres. XXX month, business year may in United XX country. and think one merchandise the AMC of branded have physical ago, million each we roll and significant month, what in sell In has where dine-in copies revenues with at therefore, our near-term. movies a a movie households Very in night strong nationally be U.S. blockbuster
capability add the today giving XXXX revenues. opportunity announcing further our AMC other grow are to Theatre's We will that this in website we an to AMC
We through that that existing AMC will it not will this this our site partnering result a in be premium means minimal. We're a actually happen, capability as with having Item perfectly XX. costs situated premium but, to entertainment video-on-demand on home entrants well. on will if this high-margin content do basis sell suggesting of white-label as so does, initiative be amctheatres.com will video already development
XXXX $XXX lowered of guidance to August range $XXX million from for weakness, the EBITDA. and new million the million our industry-wide to a to full-year million $XXX today, revenue of Given $XXX adjusted EBITDA previous October we range of
how the already until aware. UK currently-envisioned creating EBITDA put on Immersive think the theatres think deployments. guidance XXXX executives we both Dreamscape announced at U.S. we've low we know this in launch to and of traffic We the will behind our for In Dreamscape plan market we said virtual be another the analyst one, not the XX. theatres finally, on are virtual Therefore, addition reality yet be range. by and is XXXX, The already six that, intriguing reality will done And a content investment an Item through quarter again fourth our our in estimates IMAX September, or previous of to the our at IMAX announced guidance our As change Dreamscape adjusted locations full-year are below big what and will mind-blowing said exactly today for is at masters Having reflection end VR very an still consensus call, but a end. big could near generator. and that intriguing path. AMC once spectacular well innovative or AMC
in at take here's more looking looking conclusion, back So, QX our importantly, and, ahead.
we office some naysaying the expect we predicting and and and quantity robust our considerable foreshadow especially be July, bullish May, just for top been arising will in our demand demonstrate Among and Thor however, films the time, before throughout For in to makers into movie Star industry box see The do At all huge year, to like time, in movies, two-and-a-half from appealing so. will coming record Americans believe the quarter and we and was box about years same to misplaced, movie quarter been be that have pay after the what performance When this is consistently the due what hit October consumer have Hollywood third were in we international pour know immediately IT surprisingly, office box soon August strong offer office Jedi that Europeans true. and scheduled dollar theatres September, numbers November, to year-end. of other movies Last the released. December, weakness subject films Not Wars: fourth in matter of many the and be accurate. to slate. We
about been and the optimistic opinion, the and in movie AMC industry in film on could now more confident, coming questions. generally, optimistic excited turn and theatre you to are of the betting the Accordingly, that's in this are strength Operator, to financial industry years. wrong who've our our about be in We ability XXXX. let's the again doubting of generally, deliver for investors similarly movie We specifically and this way. those bearish call the XXXX slate afternoon. results coming not viability strong Thank participating
