AMC Entertainment Sees 20% Revenue Growth in Q1 as Box Office Picks Up
AMC Entertainment Reports Strong First Quarter Revenue Amid Improved Attendance
AMC Entertainment, the largest theater group in the U.S. and around the world, announced a significant increase in first-quarter revenue, surpassing $1 billion compared to $862.5 million in the same period last year. The company attributed this growth to robust domestic performance and "vastly improved" results within its European operations.
Adjusted EBITDA, which represents earnings before interest, taxes, depreciation, and amortization, reached $38.3 million—marking a turnaround from a loss of $57.7 million in the first quarter of the previous year and representing the highest quarterly performance since the onset of the COVID-19 pandemic.
Notably, total attendance for the period rose by 13%, with an average screen count of 9,300.
While the company reported a negative free cash flow of $175 million, this figure showed improvement from the negative $417 million reported in the first quarter of 2025. The net loss for this quarter narrowed to $117 million, down from $202 million last year. Additionally, net cash used in operating activities decreased to $128.5 million compared to $370 million, leaving AMC with cash and cash equivalents totaling $339 million as of March 31.
Despite ongoing challenges with its balance sheet, CEO Adam Aron expressed optimism about the results. "These numbers are a clear testament to our disciplined operating execution in maximizing AMC’s revenue growth while simultaneously containing our costs, combined with an unwavering commitment to elevating the moviegoing experience," he stated. Aron also noted that the company’s improved results demonstrate the inherent operating leverage in the business.
Looking ahead, Aron anticipates that revenue will continue to rise "significantly" throughout the year, citing the return of box office hits ranging from Project Hail Mary to The Super Mario Galaxy Movie, and the recent debut of The Devil Wears Prada 2. The box office experienced a nearly 25% increase during the first quarter, further buoyed by a strong slate of upcoming releases and Hollywood studios committing to a 45-day exclusive theatrical run.
In after-market trading, AMC shares saw a slight decline of about 2%, dropping to $1.60, following a 10% increase earlier in the day. Aron is scheduled to host a call at 5 PM ET to discuss these results further.
