Thank you, Sean.
you to drive guests had all targeted AMC are believe and in experience As heard in driven data These fourth solidly unique successful end-to-end a consumer Century nothing the and outperformed directly blazing to yet just going deliver personalized that our we continued the the loyalty. platform leveraging a a results which tied XXst trail AMC through where We innovation for the quintessential industry creating less we insights commitment technology again. AMC than movie is experience. that quarter
questions, like Before eight on I'd your specific to turning to comment topics. important
attractiveness the ahead. the office industry of on looking box First,
may minutes ago, in office high. face some draw has out-of-home that more could to conclusions may this Much not true. softness year hit all-time disagree potential been strongly. is have box secular argue to going. a XXXX a short-term That written record said and due the an few in XXXX. But office this of movie challenges We that decline domestic I the out be As box globally tried
dramatic the look office we As we the see to ahead, domestic not growth so XXXX, size of far especially away. box in
believe box the office XXXX will the we turn be wrong. the reported, and will pessimists When naysayers it have eventually who been out to is
biggest as global recently the office only find XXXX industry biggest will ever. the and was to XXXX, box some theatrical of industry You domestic was box recall as XXXX office obituary ever exhibition that that the were writing
should supposed and be is right going movie demand out quite corner more going out now. of years overcome overcome opinion put XXXX business. was theaters XX business. our was movie on of business. to People streaming DVDs, video an yet, DCRs, for Television of put going business. business. theaters have is of to movie going the the of of year theaters theatergoing put been out anachronism XXXX in that movie than of we're to out resilience movie we're And for business. Premium now theaters going forecasting was to theaters out theaters AMC. is putting be has a to put to around and Television And out overcome. and wonderful movies put
As incredible see about makes we we anchored to Impossible, Jones, and Jurassic Indiana Wars few. our look slates by beyond, likes Mission This Star franchises to future. films XXXX of billion proven and industry's World, name a us Avatar, dollar the extremely optimistic just and
in the like industry States. of rest admission's United Second, AMCs AMC proud of cutting cost for the speaks enjoys the by revenue growth, the basis industry industry are per outperformed XXX all volumes domestic quarter, improvements, of rest and on revenue ever consecutive margin seventh so and rest of screen the advantages beating the efficacies the XXX That points per we of beating basis the the for AMC with points. attendance the screen that competitive
office year AMC box become we to how in it was are revenues to exhibitor reminded XXXX grow globally this the record recently Europe. of levels past for industry-wide smart largest As
European are approximately rate seating theatres recliner XXXX. have with to What's at our installation growth in in Europe responding of should recliner of Europe. industry XX installed seating seating XX theatres generally renovation year have the to more Approximately now that by the our and end growth of X.X theatres our recliners times of installed rates
by We latest the Middle expansion pleased East. our similarly are in geographic
in second Riyadh world. highest a XX East XX of Middle expect the open theater that seat ago our Out countries year theaters our opened grossing have opened We that weeks XX entire theaters theatre our in is theater we end in is ago. weeks the XXXX, possibly in By there new XX already to X,XXX and per on more.
have end or to by expect open XXXX. year XX We more theaters there
or and our Results of costs, EBITDA significantly are aspects margin On to our deliver second enhance the announced that completed. discipline on optimize We've points exceed of by quarter, this structure cost on growth. improve increased certainty we operations $XX revenue for adjusted million $XX and already the just cost our up XXX, showing will we the focus of and plan to end improved taken for margins. efficiency a improvement heighten to million our at already basis XXX quarter ASC actions profit the
XXXX, During the benefits the the see continue year. we'll of in plan ticking improvement throughout profit to
flow. as to Third, CapEx and cash free
free generation. cash AMC down turned the As our capital has corner expenditures come on flow
with $XXX of in with are our and will in investments less needing somewhere Our already the many of initiatives to in than AMCs returns they been strategic so yielding strong US XXXX. XXXX theaters the natural theaters money $XXX million approximately renovated. investment million less evolution were having expenditures capital be
amounts business sufficient than with invest the and with especially drive these more our in to still Europe continue innovations growth, technology in are to But to everywhere. renovations
We've about committed includes allocation to relates shareholders. made cash highest as return our share business, accorded and capital that We our capital to remains AMC significant the now long-term time AMCs today saying moment. in This approach investing reducing reduction important dividends Fourth. achieve for our have an raised risk leverage is to allocation, that adjusted hence priority priority the shareholders. returning we announcement a to to balanced the leverage, or the highest especially for shareholders capital being at returning through to been reducing the buybacks. forecasted cash Deleveraging expenditures. either in single some
by level through shareholder oversized and realized very through be depressed our an to return by to we the credit that enhance of buybacks given financial than deleveraging given and markets of rather value little dividend an the seem current Today, also increasing there's shareholders payments. opportunity announced paying AMC that dividend, we capital the share to for proportion price giving
component are an allocation. new remains York amount, capital the important in current dividend Stock consistent New with of our companies. a other so of paying we And doing average by the so, listed dividend Even the paid Exchange
have and Some approximately credit million our have the of it’s dividend, the wherewithal financially that’s nonsense fund cash of $XXX might revolving total of of we yearend just at XXXX, million speculated by that undrawn $XXX and illiquidity. million yearend to lines higher belied completely totaling $XXX not
exceeding justify paying below with EBITDA when given to points XXX. put, conditions, large dividend explanation our ranges currently this, one three typically yield historic cannot now a is out yield. to price through share moldable is simply shareholders The is we XX%, view, ASE a return smartest within rather current repurchase for cash way In adjusted the dividend our than trading to share a
A as few December press company's we ago, B consecutive XXth level a the decrease adjusting lower at release the by XXXX on offering, per payout of should we we Board the for share accordingly initial million. a million admittedly dividend issued Directors of fourth for quarter create will but the stock, this unchanged are since $XX AMC’s can annually. to and of common shares approximately the $XX time. compared quarter So our that $X.XX of quarter continue Providing ended a that optimally $X.XX class buybacks at both of capital declared dividend minutes reduces by have a our XX, dividend and per The shareholders. dividend in share this starting approximately dividend allocation XXXX quarter. public equity class And towards capital the this value deploy total for de-leveraging
money. executive over and are is announced reductions today that end, out class our also most for million that shares three officers board considerably up of Topic believe trades the A authorized next $XXX that to share reductions our has we To senior a AMC’s mispriced. stock a X, team our that the I fundamentally equivalent immediate grant – pay management program for of years. repurchases compensation common new also
bargain. a are shares Our
dependent AMC enthusiastically program grant. all the of on money our As signed reduced a where is out voluntarily a equivalent to a new one-time share officers compensation and of corresponding senior way benefit result on the of have relevant
Here more a details X-K high an contained are information at will be level filing. in
and by on reductions will equal ground X-X time bonus combined target at One categories. decrease total restricted target to ad cash their of each XX% one-third of will current lowering in split AMC’s be here that reduced officers XX% cash applied senior lowering amount compensation the compensation and it, one-third of cash that’s an their bonus, This sum that three salaries and immediately The based X-X compensation as market cash vest into share across amounts salary XX% grants lowering performance. third of opportunity. XX% plus participating of performance be thirds market evenly
to Importantly, lowered three and lowered as cash the these officers sacrifices continue performance and shares reducing now requires of their with at market the vesting now order in any receive three-year and in well in will coming will years. AMC vesting exchange, In shares that AMC salary each pay the that accruals of And price grant for cash provision. has a time restricted materially bonus lower the exceptions occur. share also a totals new one-time at certain rise share
occur, grant XX-day a not equal share is This at price market – occur AMC not initial vesting basis on split into tranches. will $XX yesterday’s vesting the VWAP it recovers until the premium will occur a close. per share will year, six XXX% Initial to
the a price tranche, close. The AMC we’ll to XXX% vest yesterday's rises to only second premium $XX, when share
me officers a to $XX yesterday's were and all senior respectively. partially course. The XXX% XX at premiums $XX, XXX%, of including in third XXX% tranche this of XXX%, AMC and effort subsequent close, of the vest participating that's tranches the premium $XX, $XX,
doubles AMC more all trading until triples or for for the value have will at all reductions that compensation a immediate three exchange more. than no years security price and share We’re in
each and where all aligned of through can putting totally putting grants therefore Management is deep see, share skin at we us in our is the mouth have with cash our about all cuts you is. and pay market money and lowered. shareholders future of conviction game. us more now, As AMC’s are
build up. the We price back incentivized are to heavily share AMC
another program. confidence doing and A-List. done each of AMC possible. that The fourth A-List occur to quite we we quick all subscription update our in completed with vital We marketing most A-List power have as Stubs make successful on just quarter quarter will quarter, A-List for be every and programs. Six, will one to as a is our that our impactful
overall improve constantly are managing program to interactively the company's our profitability. We
mid was member in have fourth membership A-List month, admissions. and to X.X We program XXX,XXX the A-List range, is per Xx between the that current represent levels. heart success defines million to pricing and per the quarter spot for continue sweet XX% quarter paid right A-List XX% fourth visits U.S. members currently X the the again of of theater in between average which The members high total our frequency and superb of News
per from models. counts as our is ahead going membership fourth right been month Just initial A-List has and at program frequency of also suit, the of out planning the schedule X.Xx on profitability of quarter favorable movie to also
and We handle continue solid confidence have the building and a reassuring on A-List. with to analytic continues innovation program, rock A-List
Our transaction, allows make new movie Entourage. members have hotels A-List. of the Entourage. multiple to for including to it booking can goers, three Entourage specific they A-List we just a reserved XXX,XXX in feature seats months people and their single has easy been a who’ve It movie a In through linked a most of about their their reservation XXXX November in accounts, and that welcome so launched quick link in A-List was enhancement members
back contributed AMC June announced XXXX. our A-List and expectations ahead our XXXX. incremental in a year more than launch during of in Overall of income the to ahead $XX Way A-List of million full described program expectations operating of the earlier of
robust We expectations. in partners. after-quarter-after-quarter-after-quarter. continues expect our benefited to has theaters, premium A-List a has to why It’s format why attendance our our been AMC. outperformed the quarter-after-quarter-after-quarter-after-quarter, industry, AMC XXXX. A-List big loyal studios more is even reason and AMC’s exceed and US increased from our It It's
choose channels exploded four office channels, did fine. in major theaters as box theaters with that the movie hundreds just year They streaming to faith on some Or serve streaming, that content to for the issue the threat XXXX will an to when biggest content that mortal television some global seem movie ignore of of was Seventh, on from theaters. accept facts increase to ever.
billions increase Or more increasing that at customized dollars a house. companies goers in Or that are AMC our creature like easier get to our the our movie far movie comforts out to a that seat and and have engagement invested more to on the book our and of marketing made us with enticing of like programs never prime to basis technology guests. stay loyalty engaged a interfaces far, Or theater before. have for it theaters continuously
streaming of The to world clear Studies and positive endless and exhibition who create theatrical significant in correlation had short, between to content content, power, in The with always movie we age strong as have believe and to is movie a helps exhibition content icons like enjoy value opportunity indicated on theatrical looking low theaters theatrical discovery. today's also from big those for watching In rather providers competitors in there going. a particularly platforms. tremendous high sound for stream powerful of gets go branding smell person for movies than movie their quality and streaming differentiate at theatrical the scroll utilize a watching, further who users content those popcorn. strong to has quality format theaters of exhibition screen shareholders. the on their to Further, buttered to
we encouraged games merchandise encouraged do created be These and increasingly continues building theatrical investments will anchor the extendible that which with and earning as to base streaming the in with to the important TV are now the in which all are was parks, offerings too theatrical Malleable and out and is arms box video in this required initially content, to office from massive succeed. then the while starting do franchises that that valuable the via content billions incredibly as studios they to that streaming it content content, studios building exhibition the initial release. race fray their theatrical play utilized demand think theme help profits have in
their will motivated enjoyed the of best and big and the talented Importantly, screen. that on directors, knowing cinematographers, be actors possible work keeps and excited exhibition way lore shown writers a in theatrical
alliances for that we and this with result, theaters powerhouses to use in them new century a to Senior AMC propel who as we will Strategy forge movie With streaming success. of joins long own partnerships existing confidence a As new our mind have maintain Monday. their major Vice emerging studios every vehicles us just business hired President with our
world directive media and a in has worked before is that strategy of and Television development regarded of Fox Based part savvy previously executive business his players emerging us studios established create of with create from all at XXth Pictures. services major streaming partnerships both will create but be especially XXth as Los AMC. from first to for longtime streaming and and to for president vice to parties value highly Century Angeles of century Universal here He the – benefit value
moment AMC AMC on Entertainment had to the anywhere movie Asia. we And seems appropriate topic everyone's nor nor the briefly coronavirus. your does have have Korea movie not a theaters take does in Iran. address X, before to South China in it just finally topic in questions theaters not in mind
Italy We have week for we in northeastern to close ago a and some days decided have in Italy theaters of as three starting precaution. northern which do a
impact can economic of Corona on so minimal, that while best been As AMC the it's we far tell to has conceivable change.
our today throughout well United predominantly or as and the of to our from we as a we world expect theaters to be at our visited little the and United as you by day far guests good. across reports taking Europe in northern would looking theaters report It account pain. broadly felt per of advice will countries staff are a of that authorities into times medical monitoring moviegoers saying States appear from XXXX in of a without of but the governmental have around so our and here million responsible safety player vigilantly XX States course no the so importantly experts which Europe and As circuit are goes
full, maturity this well, before for many capital four all no to we which be truly covenant any to this with in full In AMC years doubt performed coming. a debt our that while place just does with have call XXXX. are quarter flexible A maturities securities that who remind one for completed the there realize price single Also AMC another should probably today at period the like. are seem good share as not debt And us. our structure looking is in and as conclusion, a year and
We have results deliver that to bright. that as future proven confidence correct continue will AMC’s extraordinarily is every we be
that operator, for we're With questions. ready