1 Metric Working in AMC Stock's Favor Right Now
Comparing where AMC Entertainment Holdings (NYSE: AMC) is now to where it was two years ago is a painful exercise after last week's quarterly update. As great as the year-over-year comparisons were -- when all of its U.S. theaters were closed -- AMC is nowhere near where it was before the pandemic.
Revenue clocked in 70% below where it was in the second quarter of 2019. Put another way, AMC's business would have to more than triple from here to get back to where it was just two years ago. The second quarter of 2019 was also the last time AMC cranked out a quarterly profit.
However, one interesting and encouraging metric can be found in the rubble. Dig into the line items, and you'll find that the $233 million in admissions it rang up in its latest quarter is 74% below where it was two years ago. This may not sound great, but let's keep going. The $161.5 million in served up in food and beverages in last week's report is just 67% less than where it was in the second quarter of 2019. This is good news. Let's break it down.
Source Fool.com
