AMC Posts a Record $1.7 Billion Quarter and Declares Its Recovery Done
Summary
The chain swung to a $109.3 million profit and refinanced nearly all its debt, pushing maturities out to 2031 and 2033.
"AMC Entertainment reported record third-quarter revenue of $1.7 billion, up 31% from a year earlier and above the all-time high it set in the second quarter, Deadline reported Wednesday. Net earnings came to $109.3 million, compared with a loss of $298.2 million a year ago. StockStory put revenue at $1.71 billion against a $1.56 billion consensus and adjusted EBITDA at $347.5 million, while adjusted earnings of 13 cents a share were a penny short of estimates; shares slipped 1.3% to $3.43 after the release.
The company also completed a $3.97 billion refinancing covering about 97% of its debt. ""On this webcast, I declare that AMC has finally emerged from the storm clouds created by Covid,"" CEO Adam Aron said, adding that AMC expects to be cash-flow positive for full-year 2026.
Aron said October's domestic box office ran roughly 35% ahead of last year and predicted domestic and global grosses will reach their highest full-year levels in seven years, with domestic easily topping $10 billion. He pointed to a holiday and 2027 slate that includes I Play Rocky, Wild Horse Nine, Dune: Part Three and Avengers: Doomsday. The Hollywood Reporter also covered the results."
