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AMC Entertainment
AMC Entertainment (AMC) investor relations material
AMC Entertainment Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary24 Feb, 2026
Executive summary
Achieved operational and financial progress in 2025, with full year revenues rising 4.6% to $4,848.9 million and adjusted EBITDA up nearly 13% to $388 million, despite a slower-than-expected industry recovery and a 2.1% global attendance decline.
AMC outperformed peers, increasing market share to over 25% of U.S. box office dollars, with a network 50% larger than its next largest competitors.
Net loss for 2025 increased to $632.4 million, mainly due to non-cash charges from July 2025 refinancing, though Q4 net loss improved year-over-year.
Record per-patron revenues and contribution margins achieved for both Q4 and full year.
Financial highlights
Q4 2025 revenue was $1.29 billion, adjusted EBITDA $134 million, and cash from operations $127 million.
Full year 2025 consolidated revenue grew 4.6% to over $4.8 billion, with adjusted EBITDA up nearly 13% to $388 million.
Record per-patron metrics: admissions revenue per patron up 5.9% to $12.09, food and beverage per patron up 5.1% to $7.62, and total revenue per patron up 6.8% to $22.10.
Contribution margin per patron rose 7.2% to $14.80, now 51% higher than 2019; Q4 2025 contribution margin per patron was $16.30.
Ended 2025 with $428 million in cash; positive free cash flow of $51 million for the last nine months, but full year free cash flow was negative $365.9 million.
Outlook and guidance
2026 box office expected to rise by $500 million to over $1 billion in North America, with Europe projected to outperform the U.S.
Management expects significant industry growth in 2026, citing a strong movie slate and a 16% year-over-year increase in January North American box office.
Anticipates substantial adjusted EBITDA growth in 2026 due to operating leverage and a robust film slate.
CapEx for 2026 guided at $175 million–$225 million, consistent with 2025.
Per-patron records offset attendance drop how
Reconcile refinancing benefit with net loss increase
What is the long-term debt reduction strategy?
Value from theater portfolio changes
Loyalty program innovations impact
Growth from non-traditional revenue streams
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Next AMC Entertainment earnings date
Q1 20266 May, 2026
AMC Entertainment
Next AMC Entertainment earnings date
Q1 20266 May, 2026
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Frequently asked questions
One of the Largest Cinema Chains in the World
AMC Entertainment Holdings, Inc., simply referred to as AMC is a prominent American movie theater chain. With a long-standing history, AMC operates numerous theaters across the United States and internationally. The company runs movie theaters and is experienced in exhibiting and distributing films, offering a variety of movie experiences to audiences. AMC's theaters present a range of films, including blockbusters, independent movies, and special screenings.
Over 100 years of big-screen entertainment
AMC has a long history in the entertainment business, tracing back to its founding in 1920. Over the years, the company expanded through acquisitions and strategic partnerships, solidifying its position as a leading theater chain in the United States. Despite facing challenges and changing market dynamics, AMC persevered and adapted to the evolving entertainment landscape. Through a focus on customer experience and continuous improvement, AMC has grown its network of theaters nationwide, offering a wide selection of movies and amenities. Today, AMC is a prominent player in the industry, known for its extensive theater network and commitment to providing quality entertainment experiences.
A strong US presence
AMC has established a strong presence in the United States, with an extensive network of theaters spanning various cities and states. From major metropolitan areas to smaller communities, AMC theaters are widely accessible all over the US. This widespread presence allows AMC to reach customers across the country, offering a convenient and enjoyable movie-going experience. With its widespread reach and diverse theater locations, AMC has become a familiar and trusted name in the American film industry, while also becoming the obvious choice for many consumers when it comes to choosing a place to watch the latest movie releases. Whether it’s a small indie film or a blockbuster movie produced by a production company like Paramount or Disney, AMC is the obvious choice for many consumers. They also work together with other companies, such as IMAX, to provide the best possible movie experience for their customers.
AMC might be an American company and have the bulk of its operations (and market share) in the US, but it’s not the only place where consumers can catch the latest releases at their local AMC branch. Today, AMC operates outside the US and is active in around 15 countries.
Focusing on the customer experience
Part of AMC’s success can be attributed to the fact that they provide a comfortable and immersive movie-watching experience with state-of-the-art technology, comfortable seating, and high-quality audiovisual systems. AMC also offers various forms of customer loyalty programs to further enhance incentives for consumers to visit their theaters.
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