Key Takeaways:
AMC Entertainment generated record weekend revenue in its 106-year history, powered by Spider-Man: Brand New Day's $927 million global opening.
"This was a truly historic weekend," Adam Aron, chairman and CEO at AMC Entertainment, said. "In welcoming more than 10.2 million moviegoers around the world, AMC established this weekend a new all-time Company weekend record for admissions revenue and a new all-time Company weekend record for food & beverage revenue."
More than 10.2 million people attended AMC Theatres in the United States and ODEON Cinemas internationally from Wednesday through Sunday. The company set all-time records for admissions and food & beverage revenue, beating the previous F&B mark set during Avengers: Endgame's 2019 opening. Thursday, Friday, Saturday and Sunday each set single-day admissions records for the exhibitor.
The results follow a record second quarter in which revenue rose 14.2 percent to about $1.6 billion and adjusted EBITDA jumped 70 percent to $321.4 million. AMC shares are up 77.56 percent year to date, though the company carries $3.85 billion in corporate borrowings and negative stockholders' equity of $1.45 billion.
Spider-Man: Brand New Day, from Sony Pictures and Marvel Studios, opened to $355 million domestically and $572 million internationally, the second-highest opening weekend in box office history behind Avengers: Endgame. The film helped drive the highest-grossing weekend at the domestic box office in industry history, based on admissions revenue, and set a record for Dolby Cinema at AMC. It earned a 90 percent critics' score and 98 percent audience score on Rotten Tomatoes.
"The movies are back and they're here to stay," Erik Davis, correspondent at Fandango and Rotten Tomatoes, said on CNBC. "Audiences are really drawn to these event formats, these formats that take the moviegoing experience to the next level."
Christopher Nolan's The Odyssey continued its run, taking in $51 million in its third weekend for a domestic total of $395.5 million. AMC Lincoln Square 13 in New York operated around-the-clock IMAX 70mm showtimes for the third straight weekend, and AMC, IMAX and Universal Pictures extended those engagements into September.
Sony Group, the studio behind the franchise, reported Q1 FY2027 revenue of $17.75 billion, up 8.3 percent year over year, with the Pictures segment contributing $1.95 billion. Analyst coverage of AMC tilts cautious, with two buys, four holds and one sell.
The record weekend confirms a theatrical rebound that has produced nine blockbuster openings since March. Investors will watch whether AMC's operating leverage carries through the second half, with Dune: Part Three and Avengers: Doomsday still to come.
This article is for informational purposes only and does not constitute investment advice.
