LEAWOOD, Kan. – AMC Theaters (NYSE:AMC), the world’s largest movie theater chain, reported record domestic sales for the weekend before Thanksgiving, marking the most successful performance for that period in the company’s 104-year history. The increase in sales was driven by high admissions and strong food, beverage and merchandise sales, particularly during the opening weekends of “WICKED” and “GLADIATOR II.”

The company announced that AMC Theaters and its international subsidiary ODEON Cinemas welcomed 4.6 million moviegoers from Thursday to Sunday. The ODEON Cinemas also achieved their highest daily sales on Saturday, November 23, 2024, taking into account both tickets and food and beverage sales.

In the US, AMC’s merchandise program for “WICKED” proved extremely popular, with collectibles selling out on Sunday. Merchandise included themed popcorn jars and a special cup with lids based on the film’s main characters.

Looking forward, AMC is preparing to launch showtimes for “WICKED Singalong” in late December and invite fans to sing along at select theater locations.

Adam Aron, chairman and CEO of AMC, expressed satisfaction with the weekend turnout and anticipation of a busy holiday movie season. Aron also acknowledged the contributions of Universal Pictures for “WICKED” and Paramount for “GLADIATOR II,” attributing the success to audiences’ desire for a theatrical experience.

As the Thanksgiving holiday approaches, AMC expects continued strong attendance for the release of “MOANA 2” at ODEON Cinemas on Wednesday, November 27th in the US and November 29th in the UK.

This record-breaking weekend is part of AMC’s ongoing efforts to enhance the movie theater experience, including improved seating, enhanced food and beverage options and programming diversity that goes beyond traditional Hollywood films.

The information in this article is based on a press release from AMC Entertainment (NYSE:) Holdings, Inc.

In other recent news, AMC Entertainment Holdings, Inc. has made significant progress in managing its financial position. The company recently swapped some of its debt for equity, saving about $24.2 million in unsecured debt. In return, AMC issued over 5 million shares of Class A common stock and paid a cash consideration. This strategic financial maneuver is part of AMC’s ongoing efforts to strengthen its balance sheet and improve its financial condition.

In terms of earnings and revenue, AMC Entertainment announced its financial performance for the third quarter of 2024. While no specific revenue or profit updates were provided for the quarter, the company focused on non-GAAP financial measures such as Adjusted EBITDA to provide a clearer picture of its operating performance. The company’s leadership, including Chairman and CEO Adam Aron and CFO Sean Goodman, emphasized the unpredictability of the entertainment industry and the various external factors that can impact the company’s results.

These recent developments suggest that AMC Entertainment is navigating the evolving landscape of the film exhibition industry with caution and transparency. Despite potential challenges, the company’s statements indicated optimism for the future. However, they also acknowledged risks and uncertainties that could affect the Company’s performance and cause actual results to differ from current expectations.

Investing Pro Insights

As AMC Theaters celebrates its record-breaking weekend, a closer look at the company’s financials reveals a more complex picture. According to InvestingPro data, AMC’s revenue for the last twelve months (as of Q3 2024) is $4,435.2 million, with revenue growth of -5.62% over the same period. This suggests that despite its recent success, the company has faced challenges in maintaining continued growth.

An InvestingPro Tip highlights that AMC operates with a significant debt load, which could be a concern for investors given the company’s long-term financial health. This is particularly relevant given the cyclical nature of the cinema industry and the need for continued investment in theater upgrades and technology.

Another InvestingPro tip suggests that AMC is burning through cash quickly. This information adds context to the recent record weekend and suggests that while such events are positive, the company may need to sustain this momentum to overcome its cash flow challenges.

It is worth noting that InvestingPro offers 11 additional tips for AMC, which provide a more comprehensive analysis for investors interested in a deeper understanding of the company’s financial position and market performance.

The company’s market cap is $1,710 million, reflecting investor sentiment about AMC’s future prospects. However, despite the recent positive news, the market is pricing in significant challenges with a P/E ratio of -3.29.

These insights from InvestingPro highlight the importance of looking beyond short-term successes to understand a company’s overall financial health and market position.

This article was created with the assistance of AI and reviewed by an editor. Further information can be found in our terms and conditions.