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AMC Entertainment (AMC) investor relations material
AMC Entertainment Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue was $1,300.2 million, down 3.6% year-over-year, with a net loss of $298.2 million, primarily due to non-cash charges from major refinancing and lower attendance.
Adjusted EBITDA for Q3 2025 was $122.2 million, down from $161.8 million in Q3 2024, but per-patron metrics reached record levels.
For the nine months ended September 30, 2025, revenues increased 6.9% to $3,560.6 million, but net loss widened to $505.0 million, mainly due to higher interest expense and debt transaction losses.
Achieved record admissions revenue per patron of $12.25 and second-highest food & beverage revenue per patron at $7.74.
Increased U.S. market share to 24% of the domestic box office, outpacing competitors.
Financial highlights
Q3 2025 admissions revenue fell 3.9% to $715.1 million; food and beverage revenue declined 7.9% to $451.8 million; other theatre revenue rose 16.7% to $133.3 million.
Operating costs and expenses for Q3 2025 were $1,264.4 million, down 1.0% year-over-year; operating income was $35.8 million, down 50.1%.
Cash and cash equivalents at quarter-end were $365.8 million.
Attendance in Q3 2025 was 58.4 million, down from 65.1 million in Q3 2024.
Adjusted EBITDA margin for Q3 2025 was 9.4%.
Outlook and guidance
Management expects Q4 2025 to be the highest-grossing fourth quarter in six years, with a robust film slate anticipated.
2026 box office is projected to be dramatically larger than 2025, with a strong pipeline of major releases.
Forecasts to be free cash flow positive for the nine-month period ending December 31, 2025, if box office meets expectations.
Full-year 2025 capital expenditures expected to be $175 million–$225 million.
Management notes current cash burn rates are unsustainable long-term without a return to pre-pandemic revenue levels.
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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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