AMC Entertainment Holdings, Inc. (NYSE:AMC) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 08:30 am ET


AMC Entertainment Holdings, Inc. (NYSE:AMC) Q3 2019 Earnings Conference Call - Final Transcript


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Greetings and welcome to the AMC Entertainment Third Quarter 2019 Earnings Conference Call. [Operator Instructions[.

I would now like to turn the conference over to your host John Merriwether Vice President of Investor Relations. Please proceed sir.

John C. Merriwether

Thank you LaTonya. Good morning I'd like to welcome everyone to AMC's Third Quarter 2019 Earnings Conference Call. With me this morning is Adam Aron our Chief Executive Officer and President; and Craig Ramsey Executive Vice President and Chief Financial Officer. Before I turn the call over to Adam let me remind everyone that some of the comments made by management during this conference call may contain forward-looking statements which 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 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 call, we may reference measures such as adjusted EBITDA adjusted EBITDA, margin, adjusted free cash flow and cost and currency which are non GAAP financial measures. For full reconciliation of our non GAAP measures to gap results, please see our earnings release issued earlier this morning. In conjunction with our earnings release, we encourage you to review the supplemental financials 2019 third quarter that we published this morning on our website in tandem with the earnings release. After their prepared remarks it will be a question and answer session to Morning call is being recorded and a webcast replay will be available in the investor relations section of our website. Today AMC theaters calm later today.

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

Adam M. Aron

Thank you John. Good morning everybody. Thank you for joining us this morning for a review of AMC's strong results for the third quarter of 2019 our enormous optimism for the coming six months ahead as we finished 2019 and start off 2020 both with a bang and a progress update on several key initiatives in support of achieving the product customer engagement and financial targets that we laid out for you at our Investor and Analyst Day in April of this year. The third quarter of 2019 was another strong quarter for AMC. In Q3 AMC continued to outperform the industry on revenue and incentives per screen. In so doing we drove significant top line adjusted EBITDA and free cash flow growth versus the year-ago quarter. Also I'll share more details on our results shortly but first let's start with a quick look at the industry's impressive performance in the third quarter. The