Here's Why AMC's Most Important Number Could Be $5.5 Billion
AMC Entertainment Group (NYSE: AMC) is on its way to recovering from the devastations caused by the coronavirus pandemic. Nearly all of its movie theaters are reopened, and guests are slowly coming back to watch films on the big screen. The company is no longer in crisis management mode as it was at the pandemic onset.
At that time, it was burning through hundreds of millions per month and needed cash to outlast the uncertain duration its theaters were closed to the public. With the crisis mostly averted, AMC can shift its focus to turning a profit, a feat that will admittedly be challenging and could take several quarters or years. In this next challenge, AMC's most crucial number could be $5.5 billion; that's how much interest-bearing debt the company has on its balance sheet.
AMC has $5.5 billion in debt on its balance sheet. Image source: Getty Images.
Source Fool.com
