Overview
- AMC, which reported results Tuesday after the bell, posted about $1.05 billion in first-quarter revenue and beat Wall Street estimates.
- Total attendance reached 47.6 million with U.S. visits up 14% to 30.7 million, and average food-and-drink spending rose to $7.29 per guest.
- Adjusted EBITDA turned positive at $38.3 million, the best since before the pandemic, and management pointed to premium large-format screens and longer theatrical windows near 45 days as tailwinds.
- AMC announced Arena One at AMC, a live-event platform launching in June that will turn theaters into interactive venues for real-time concerts and events.
- Shares rose after the beat on Tuesday and again early Wednesday, though about $4 billion of debt and negative free cash flow of $175 million keep pressure on the balance sheet.