AMC Theatres Reports $298 Million Loss But Holds Revenue Drop to 4%

While it continues to narrow its losses, AMC Theatres still isn’t in the black after a quarter in which it incurred a $298 million loss even as it beat revenue projections with $1.3 billion.

The theater chain attributes the majority of its loss to a debt refinancing it completed this past July, which it described as “transformative” and “highly beneficial” by allowing the company to “fully redeem all of its 2026 debt
maturities.”

That equates to a diluted loss of 58 cents per share, compared to a loss of just 6 cents per share a year ago.

Such a drop was to be expected as domestic box office grosses for the third quarter fell to $2.36 billion, an 11% drop from 2023 and 2024 when films like “Barbie” and “Deadpool & Wolverine” carried the market with $600 million-plus theatrical runs. By contrast, the highest grossing film of this past quarter was Warner Bros./DC’s “Superman” with $354 million.

That drop in grosses led to a similar drop in AMC’s adjusted EBITDA to $122.8 million compared to $161 million in Q3 2024.

AMC CEO Adam Aron, who has expressed continued optimism in the chain’s future in the face of multiple headwinds, pointed to what is expected to be a strong finish to 2025 with Disney/20th Century’s “Avatar: Fire and Ash” expected to cross the $600 million domestic mark this winter while Universal’s “Wicked: For Good” and Disney’s “Zootopia 2” are expected to pass $400 million.

“The third quarter industrywide softness should not be a cause for alarm nor a harbinger of some negative trend about which to worry. To the contrary, we expect the fourth quarter industrywide box office will turn out to be the highest grossing fourth quarter in six years. We also continue to believe that the size of the 2026 box office will be dramatically larger than that achieved in 2025,” Aron said.

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