AMC Entertainment Holdings, Inc. (NYSE:AMC) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET

Company Representatives

Adam Aron - Chairman, Chief Executive Officer

Sean Goodman - Chief Financial Officer

John Merriwether - Vice President of Capital Markets and Investor Relations

Conference Call Participants

Eric Wold - B. Riley Securities

Operator

Greetings! And thank you for standing by. Welcome to the AMC Entertainment, Second Quarter 2022 Earnings Webcast. During the presentation all participants will be in a listen-only mode and afterwards we will conduct a question-and-answer session. [Operator Instructions] This conference is being recorded, Thursday, August 4, 2022.

And now I would now like to turn the conference over to John Merriwether. Please go ahead.

John Merriwether

Thank you, Scott. Good afternoon everyone. I'd like to welcome you to AMC's second quarter 2022 earnings webcast. With me this afternoon is Adam Aron, our Chairman and CEO; and Sean Goodman, our Chief Financial Officer.

Before I turn the webcast over to Adam, let me remind everyone that some of the comments made by management during this webcast may contain forward-looking statements that are based on management's current expectations. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those that might be expressed today. Many of these risks and uncertainties are discussed in our most recent public filings, including our most recently filed 10-K and 10-Q.

Several of the factors that will determine the company's future results are beyond the ability of the company to control or predict. In light of the uncertainties inherent in any forward-looking statements, listeners are cautioned to not place undue reliance on these statements. The company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information or future events.

On this webcast, we may reference non-GAAP financial measures such as adjusted EBITDA, constant currency, free cash flow, operating cash burn, and operating cash generated among others. For a full reconciliation of our non-GAAP measures to GAAP results, please see our earnings release posted in the Investor Relations section of our website earlier today.

After our prepared remarks, there will be a Q&A Session. This afternoon's webcast is being recorded, and a replay will be available in the Investor Relations section of our website at www.amctheatres.com later today.

With that, I'll turn the call over to Adam.

Adam Aron

Thank you, John. Good afternoon one and all and thank you for joining us. Today we have tremendously exciting news to share with you. First, our results for the second quarter which were massively ahead of last year's second quarter, and exceeded market expectations for revenues, adjusted EBITDA and net income. And second, our plan to issue later this month a special AMC preferred equity, non-dilutive stock dividend as it will all be going and only be going to our shareholder base as of the dividend date. This is a move that fundamentally and deeply strengthens our company and will give us enormous flexibility as we go forward. These are exciting times for AMC and for our investors.