Movie theater giant AMC Entertainment Holdings (NYSE:AMC) reported first-quarter financial results Tuesday after market close.
Here are the key highlights.
AMC Q1 Financials
AMC reported first-quarter revenue of $1.05 billion, up 21.2% year-over-year. The revenue total beat a Street consensus estimate of $968.5 million according to data from Benzinga Pro.
The company reported a loss of 36 cents per share, in line with the Street estimate.
"I am so very pleased to report that AMC achieved our best adjusted EBITDA first quarter result since 2019 pre-pandemic," AMC CEO Adam Aron said.
Aron said the improvement came from strong domestic and international results and cost improvements.
The company reported attendance of 47.6 million patrons in the quarter, up 13.6% year-over-year. U.S. attendance of 30.7 million patrons in the quarter was up 14.2% year-over-year.
AMC saw food and beverage revenue per patron rise in the U.S. and international markets. Overall food and beverage per patron was $7.29 globally versus $6.76 in the prior year's first quarter.
AMC ended the quarter with cash and cash equivalents of $339.2 million.
What's Next for AMC
Aron told investors that box office performance is improving in Tuesday's quarterly results.
"The box office is back, and in a big and powerful way," Aron said.
First-quarter domestic box office was up 22% year-over-year, the strongest since the pandemic.
"Significantly rising revenues is our continued expectation for full year 2026."
Aron highlighted the success of "Project Hail Mary" in the first quarter and the second quarter performance of "The Super Mario Galaxy Movie." He also hinted that the rest of the 2026 movie slate is even more optimistic for the movie theater company.
"There are so many more superb movie titles being released throughout 2026. We are optimistic about the entire 2026 film slate, especially in the second half of 2026."
Aron said the expectation is for AMC to have "significantly rising revenues" for the rest of 2026.
The AMC CEO also said that Arena One at AMC will open in more than 300 U.S. theaters in June, creating an opportunity to offer a live concert experience at many of its North American theaters.
"We simply could not be more optimistic about the future of our industry and of AMC."
AMC Stock Price Action
AMC stock is up 2.5% to $1.63 in after-hours trading Tuesday versus a 52-week trading range of $0.93 to $4.08.
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