AMC Entertainment (AMC) Q3 2026 earnings summary

Executive summary

• Q3 2026 set quarterly records with revenue of $1,711.1 million and Adjusted EBITDA of $347.5 million, up 31.6% and 183.7% YoY, respectively.

• Results reflected stronger attendance, market-share gains, premium formats, record revenue per patron, loyalty programs and operating leverage.

• October 5 refinancing covered ~97% of debt, extended maturities to 2031 and 2033, and simplified the capital structure.

Financial highlights

• Q3 net earnings were $109.3 million versus a $298.2 million loss; Adjusted net earnings were $116.9 million. Operating cash flow was $176.6 million and Free Cash Flow was $109.3 million.

• 9M revenue increased 22.3% to $4,353.2 million; net loss narrowed to $19.2 million from $505.0 million, and Adjusted net earnings were $26.9 million.

• 9M Adjusted EBITDA rose 178.1% to $707.2 million; operating cash flow was $283.5 million and Free Cash Flow was $124.7 million.

• September 30 cash and cash equivalents were $751.9 million, excluding $39.6 million restricted cash.

Outlook and guidance

• Management expects positive full-year 2026 Free Cash Flow; net capital expenditure guidance is $200 million–$235 million.

• October domestic box office was up ~35% YoY; management expects 2026 domestic box office to exceed $10 billion, supported by November and December releases.

• Management described 2027 as a solid year, with forecasts near $10 billion domestic box office, and 2028 as potentially stronger than 2026.

• 2027 net CapEx may be mid-to-high end of the 2026 range if box office and Free Cash Flow remain strong; plans remain under development.