AMC Entertainment (AMC) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $1.6 billion, up 14.2% year-over-year, and Adjusted EBITDA of $321.4 million, up 70%, driven by a 13.5% increase in attendance and higher food and beverage sales.

• Free cash flow reached $190.1 million, reflecting strong operational execution and cost control.

• Net loss for Q2 2026 was $11.4 million, compared to $4.7 million in Q2 2025, impacted by higher other expenses and interest costs.

• Market share increased domestically and in Europe, with European attendance up 17.9% year-over-year.

• Significant progress made in strengthening the balance sheet and reducing debt, with principal balances reduced by $1.7 billion since 2020.

Financial highlights

• Admissions revenue increased 13.2% to $863.1 million; food and beverage revenue rose 15.3% to $576.1 million.

• Adjusted EBITDA margin improved to 20.1% from 13.6% year-over-year.

• U.S. adjusted EBITDA was $285.6 million; international adjusted EBITDA was $35.8 million, up 336.7% year-over-year.

• Cash and cash equivalents at June 30, 2026, were $778.4 million.

• First half 2026 adjusted EBITDA totaled $359.7 million, more than 2.5x the prior year’s $131.8 million.

Outlook and guidance

• Management expects 2026 to be the strongest post-pandemic year for the box office, with robust film slate and strong advance bookings.

• Net CapEx for 2026 projected between $200 million and $235 million.

• No material debt maturities anticipated before 2029, supporting continued investment and operational expansion.

• Continued focus on converting box office growth into profit, cash flow, and shareholder value.

• Management expects existing cash and cash equivalents, along with operating cash flow, to fund operations for at least the next twelve months.