The nation’s largest theater chain just posted second-quarter results for this year. Are people heading back to the movie theaters? Not yet, it seems.
During a quarter in which box office grosses started off weaker, the nation’s biggest exhibitor AMC Theatres posted a net loss as well as revenue almost $300 million below the comparable frame a year ago.
Attendance drops 25%
The movie theater chain, led by CEO Adam Aron, posted total revenue of $1.03 billion and a loss of $32.8 million in the second quarter of 2024. Attendance fell from 66 million-plus patrons at its theaters a year ago to about 50 million in its latest quarter, about a 25 percent decline. The U.S. market saw a slightly higher decline in quarterly attendance compared to attendance at its theater locations in international markets.
Treehouse California Almonds Plans Expansion
Treehouse California Almonds sells a full range of roasted and manufactured almonds, including blanched whole, sliced, and diced almonds, almond meal, almond butter, and natural whole almonds. The almonds are hulled and shelled in the Treehouse Almonds plant near Delano in Kern County. This shelled raw product is then trucked to the Earlimart site for processing in Tulare County. The company has applied to Tulare County for a permit.
Expansion will happen at 6914 Road 160, Earlimart, CA . The proposed project consists of an expansion of the existing processing plant into four (4) phases, including construction of additional processing, warehouse, and canopy space, solar canopies, and a new WWTF to treat wastewater for irrigation.
- Phase 1: Construction of a 644 sq. ft. metal building addition, a 4,966 sq. ft. canopy, and (2) 5,013 sq. ft. fumigation room buildings with (2) 902 sq. ft. canopies for a total of 5,915 sq. ft. ea. as additions to an existing warehouse. It will include the relocation of an existing 750 sq. ft. scale house. It will also include the construction of a water treatment facility.
- Phase 2: Construction of a 5,176 sq. ft. canopy, a 6,263 sq. ft. fumigation room building with a 1,127 sq. ft. canopy for a total of 7,390 sq. ft., and a 1,275 sq. ft. fumigation room with a 230 sq. ft. canopy for a total of 1,505 sq. ft. as additions to an existing warehouse.
- Phase 3: Construction of a 162,000 sq. ft. warehouse.
- Phase 4: Construction of a 4,433 sq. ft. solar panel canopy, a 6,975 sq. ft. solar panel canopy, and a 7,182 sq. ft. solar panel canopy.
The Project would allow the applicant to diversify the packaging of materials on-site and use additional property for wastewater treatment and irrigation of crops. The Project will not increase operational hours. The Project will not increase the volume of raw almond product coming into the facility from Delano, nor will it increase the amount of processed or finished product shipped out of the facility.
The facility currently operates two (2) 10-hour shifts, four (4) to five (5) days a week, depending on the season, with 87 employees working the day shift and 49 employees working the night shift. The proposed Project is anticipated to add an additional eight employees.