Note: EPS may not be comparable

AMC Entertainment (NYSE: AMC) reported Q4 EPS of ($2.16), versus $0.27 reported last year. Revenue for the quarter came in at $1.42 billion versus the consensus estimate of $1.41 billion.

Highlights for the fourth quarter ended December 31, 2017, include the following:

• AMC set fourth quarter records for the three months ended December 31 period for all revenue categories: admissions, food and beverage and other. Much of the growth in revenue is due in large part to the acquisitions of Odeon Cinemas Group (“Odeon”), Carmike Cinemas, Inc. (“Carmike”) and Nordic Cinema Group Holding AB (“Nordic”).
• Total revenues increased 53.0% to $1,416.8 million compared to total revenues of $926.1 million for the quarter ended December 31, 2016. Total revenues in 2017 included approximately $438.5 million of revenues from our international theatres as compared to $114.1 million in the three-month period a year ago.
• Admissions revenues increased 52.3% to $897.1 million compared to $588.8 million for the same period a year ago.
• Food and beverage revenues increased 47.0% to $415.3 million, compared to $282.5 million for the quarter ended December 31, 2016.
• Earnings before income taxes grew 13.7% to $14.1 million, compared to $12.4 million for the same quarter a year ago.
• Net earnings decreased $305.4 million to a net loss of $276.4 million compared to net earnings of $29.0 million for the quarter ended December 31, 2016. Included in the net loss for the quarter was approximately $310.0 million of tax expense in our U.S. markets related to the impact of the change in the U.S. enacted federal income tax rate from 35% to 21% and the impact of a full valuation allowance on our deferred income tax assets.
• Diluted earnings per share (“diluted EPS”) decreased $2.43 to a loss of $2.14 per share compared to earnings of $0.29 per share for the same period a year ago. Average diluted shares outstanding in the fourth quarter of 2017 increased approximately 28.2% compared to the fourth quarter last year as a result of the successful completion of an equity offering in February 2017, less the effect of 3.2 million shares repurchased during 2017.
• Total Adjusted EBITDA(1) increased 58.7% to $288.2 million compared to $181.6 million for the quarter ended December 31, 2016. International Adjusted EBITDA for the fourth quarter grew $70.2 million to $98.8 million compared to $28.6 million a year ago.

For earnings history and earnings-related data on AMC Entertainment (AMC) click here.