AMC Entertainment said it expects to report ever-high losses of between $2.1 billion and $2.4 billion for the first quarter ending in March.

“We believe, but cannot guarantee, that the exhibition industry will ultimately rebound and benefit from pent-up social demand for out-of-home entertainment, as government restrictions are lifted and home sheltering subsides. However, the ultimate significance of the pandemic, including the extent of the adverse impact on our financial and operational results, will be dictated by the currently unknowable duration and the effect on the overall economy and of responsive governmental regulations, including shelter-in-place orders of the pandemic and mandated suspension of operations,” the company said in an SEC filing announcing its preliminary earnings and complicated outlook, Deadline reports.