AMC Entertainment Narrows Q2 Loss As Box Office Recovers

AMC Entertainment, the largest U.S. and global theater chain, saw its finances improve in the June quarter and its stock pop Monday as CEO Adam Aron cited a recovering box office industry-wide and stronger numbers across AMC and Odeon in Europe.

Revenues rose 35% to $1.4 billion Net loss narrowed to $4.7 million from $32.8 million. Adjusted earnings before interest, taxes, depreciation and amortization (ebitda) rose to $189 million compared to $38 million. A post-Covid, post-strike recovery didn’t really take off until early in Q2 with A Minecraft Movie.

Also key, net cash from operating activities swung to $138.4 million from a negative $34.6 million and free cash flow of $89 million compared with negative $79 million the year before. Cash and cash equivalents at June 30 totaled $423.7 million.

Share are up 6%. They popped after the numbers and were up as much as 12% premarket.

CEO Adam Aron called the latest numbers “a combination of a recovering industry-wide box office, and the undeniable fact that both AMC and Odeon are executing so well in so many different ways,” saying they broke records across nearly every per patron metric.”

He’ll be talking more about Q2 on a call at 5 pm ET today.

Odeon, comprised of Nordic Cinema Group, UCI Cinemas and Odeon Cinemas, is Europe’s largest circuit.

Admissions revenue per patron topped $12 for the first time coming in at $12.14. Consolidated food and beverage revenue per guest rose to $7.95. Consolidated revenue per patron hit $22.26, which Aron said “powerfully validate our strategic initiatives and that consumers view moviegoing at AMC and Odeon as highly attractive out-of-home entertainment experiences.”

The company has recently taken steps to bolster its balance sheet, which took a massive hit during Covid and has been digging out ever since. It raised some fresh cash and addressed its 2026 debt maturities, pushing them out to 2029. “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,” said Aron.

He gave a shout at to the circuit’s AMC Go, a focus on state-of-the-art laser projection, more comfortable seating, expanded food and beverage offerings and premium large format and extra-large format, where auditoriums are operating at close to three times the occupancy of a regular auditorium.

The chain is rolling out more Imax, Dolby Cinema, Prime, iSense, XL and Laser-equipped screens.