Latest news with #AMCGoPlan
CNBC
4 days ago
- Business
- CNBC
AMC significantly narrows losses, posts second-quarter revenue growth
Key Points AMC Entertainment reported strong results Monday, narrowing quarterly losses from $32.8 million to just $4.7 million. AMC reported a 26% increase in attendance during the period. On an adjusted, per-share basis, AMC reported breaking even. Shares of AMC Entertainment gained 3% Monday after the movie theater chain reported stronger-than-expected second-quarter results. The stock was up as much as 11% in intraday trading following the company's earnings report before the bell. AMC posted revenue of nearly $1.4 billion, up about 35% year over year and topping the $1.35 billion Wall Street estimate, according to LSEG. AMC reported a net loss of $4.7 million, or just 1 cent per share, notably narrower than the loss of $32.8 million, or 10 cents per share, the company reported in the second quarter of 2024. On an adjusted, per-share basis, AMC reported breaking even. Wall Street analysts had expected AMC to report an adjusted loss per share of 8 cents, per LSEG. AMC also said it saw a 26% increase in moviegoers' attendance compared to last year. CEO Adam Aron said the company's results are indicative of a "recovering industry-wide box office" after previously struggling to pare losses amid dual writers' and actors' strikes and an overall post-pandemic decline in movie attendance. The company is also navigating a significant debt load. "We've now addressed all of our 2026 debt maturities pushing them out to 2029," Aron said. "In so doing, we have put in place a solid foundation to capitalize on what we believe will be our industry's continued growth momentum, especially evident in the fourth quarter of 2025 and continuing deep into 2026." Aron also said the company saw consolidated admissions revenue per patron topping $12 for "the first time ever," with total consolidated revenue per patron reaching an "unprecedented" $22.26. The company reported significant growth in its premium offerings, including its AMC Go Plan, with premium auditoriums operating at nearly three times the occupancy of regular auditoriums. "The combination of a resurgent box office, our unparalleled theatre footprint with premium experiences galore, our compelling marketing programs and our increasing financial strength have a flywheel impact when they all are happening simultaneously," Aron said.
CNBC
5 days ago
- Business
- CNBC
AMC shares surge as movie theater chain narrows losses
Shares of AMC Entertainment rose 8% in early trading Monday after the movie theater chain reported stronger-than-expected second-quarter results. The company posted revenue of nearly $1.4 million, up about 35% year over year and topping the $1.35 billion Wall Street estimate, according to LSEG. AMC reported a net loss of $4.7 million, or just 1 cent per share, notably narrower than the loss of $32.8 million, or 10 cents per share, the company reported in the second quarter of 2024. On an adjusted, per-share basis, AMC reported breaking even. Wall Street analysts had expected AMC to report an adjusted loss per share of 8 cents, per LSEG. AMC also said it saw a 26% increase in moviegoers' attendance compared to last year. CEO Adam Aron said the company's results are indicative of a "recovering industry-wide box office" after previously struggling to pare losses amid dual writers' and actors' strikes and an overall post-pandemic decline in movie attendance. The company is also navigating a significant debt load. "We've now addressed all of our 2026 debt maturities pushing them out to 2029," Aron said. "In so doing, we have put in place a solid foundation to capitalize on what we believe will be our industry's continued growth momentum, especially evident in the fourth quarter of 2025 and continuing deep into 2026." Aron also said the company saw consolidated admissions revenue per patron topping $12 for "the first time ever," with total consolidated revenue per patron reaching an "unprecedented" $22.26. The company reported significant growth in its premium offerings, including its AMC Go Plan, with premium auditoriums operating at nearly three times the occupancy of regular auditoriums. "The combination of a resurgent box office, our unparalleled theatre footprint with premium experiences galore, our compelling marketing programs and our increasing financial strength have a flywheel impact when they all are happening simultaneously," Aron said.
Yahoo
01-04-2025
- Business
- Yahoo
Imax to Expand, Upgrade 80 AMC Theatres With Laser Technology
Imax Corporation and AMC Entertainment, the largest theatrical exhibitor in the United States and in the world, announced an expansive agreement on Tuesday to grow their longstanding partnership and deploy Imax with Laser technology across 80 AMC locations in the United States. Under the agreement, AMC will add 12 new Imax locations and upgrade an additional 68 Imax locations to Imax with Laser. Already one of the largest Imax operators globally and the largest in the United States, AMC will now boast the world's biggest national Imax circuit of Imax with Laser locations. The agreement marks the largest systems agreement Imax has signed in the U.S. since 2018. 'Throughout the United States and around the world, filmmakers and moviegoers hold the Imax brand in such high regard as a premium theatrical spectacle, which is reflected both in the success that AMC and Imax share together, and in Imax's extensive content catalogue,' Adam Aron, chairman and CEO of AMC Entertainment, said in a statement. 'By making this cutting-edge Imax with Laser experience available at our Imax locations in the coming years, we are delivering on our promise of the AMC Go Plan to bring these sought out, highly popular theatrical experiences to our millions and millions of guests in the United States.' 'With this agreement, the world's largest exhibitor is doubling down on Imax — a powerful validation of our efforts to strengthen our technology, expand our content portfolio, and cement our position as a global platform for awe-inspiring experiences,' Rich Gelfond, CEO of Imax, added. 'AMC and Imax enjoy a long, successful partnership, and we're excited more AMC customers will get the best of what Imax has to offer — from Universal City to Lincoln Square, and everywhere in between.' Imax and AMC's partnership spans decades and includes some of the most iconic and best-performing cinemas in the world. Imax at AMC boasts eight of the Top 10 highest-grossing Imax locations in the U.S. and industry-leading per screen averages overall. Additionally, AMC's ODEON Cinemas Group is Imax's largest partner in Europe, boasting four of the Top 5 highest-grossing Imax locations in Europe. AMC and Imax signed their first agreement in 2007. For AMC, the expanded partnership marks another significant step in its ongoing commitment to invest in innovative technology and deliver the very best in premium experiences for its moviegoers. Under its AMC Go plan, AMC continues to provide guests with an even greater selection of premium experiences, immersive sight and sound enhancements, more comfortable seating and other theater upgrades — including locations such as AMC Lincoln Square 13 and AMC Empire 25 in New York and AMC Burbank 16 in Los Angeles. The post Imax to Expand, Upgrade 80 AMC Theatres With Laser Technology appeared first on TheWrap.
