AMC Entertainment Q3 Highlights: Revenue Beat, Admissions Per Person Hits Record — Q4 Could Be Best In Six Years

Core Insights - AMC Entertainment Holdings reported third-quarter revenue of $1.300 billion, a decrease of 3.6% year-over-year, but exceeded the consensus estimate of $1.23 billion [2] - The company recorded an adjusted loss of 21 cents per share, slightly missing the expected loss of 20 cents per share [2] - CEO Adam Aron indicated that the third quarter experienced a softening due to the timing of major film releases, but expressed optimism for a strong fourth quarter [3] Financial Performance - Revenue: $1.300 billion, down 3.6% year-over-year, beating the consensus estimate of $1.23 billion [2] - Adjusted loss: 21 cents per share, slightly missing the estimate of 20 cents per share [2] - Admissions revenue per patron reached a record $12.25, while food and beverage revenue per patron was $7.74, the second-highest in company history [4] Attendance and Market Trends - Total attendance was 58.38 million, down 10.3% year-over-year, with U.S. attendance at 58.38 million (-9.9%) and international attendance at 9.35 million (-11.4%) [7] - The company expects the fourth quarter to be the highest-grossing fourth quarter in six years, driven by a strong film slate [5][6] Strategic Initiatives - AMC's recent debt financing positions the company for a multi-year industry recovery [5] - The partnership with Taylor Swift for an official listening party generated over $50 million in box office receipts from October 3 to October 5, contributing to fourth-quarter results [5] Future Outlook - CEO Aron anticipates that the fourth quarter box office will surpass last year's figures and that 2025 will be the largest post-pandemic box office year [6] - The company is excited about upcoming blockbuster titles, including the third Avatar film, which is expected to drive significant revenue [6]