AMC Entertainment (NYSE:AMC) Q4 2025 Earnings call February 24, 2026 05:00 PM ET Company ParticipantsAdam Aron - CEOChad Beynon - Managing DirectorJohn Meriwether - VP of Investor RelationsSean Goodman - CFOOperatorHello, welcome everyone to today's AMC Entertainment Holdings, Inc. fourth quarter and full year 2025 earnings webcast. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. To register to ask a ques ...

AMC Entertainment Holdings, Inc. (NYSE:AMC) is one of the best NYSE penny stocks to buy now. On January 29, AMC Entertainment Holdings Inc. (NYSE:AMC) announced it has reached an agreement with a group of creditors to change the terms of one of its notes. The agreement makes it easier for the company to refinance its debt by amending a covenant that prohibits it from refinancing its Muvico and Odeon subsidiaries. Is AMC Entertainment Holdings, Inc. (AMC) One of the Best NYSE Penny Stocks to Buy Now? The ...

Core Insights - Dolby Laboratories reported a total revenue of $347 million for the first quarter of fiscal 2026, a decrease from $357 million in the same quarter of fiscal 2025 [7] - GAAP net income was $53 million or $0.55 per diluted share, down from $68 million or $0.70 per diluted share year-over-year [7] - Non-GAAP net income for the first quarter was $103 million or $1.06 per diluted share, compared to $111 million or $1.14 per diluted share in the prior year [7] Financial Highlights - Total revenue decreased by approximately 2.8% year-over-year [7] - GAAP net income decreased by about 22.1% year-over-year [7] - Non-GAAP net income also saw a decline of around 7.2% year-over-year [7] - The company repurchased approximately one million shares for about $70 million, with $207 million remaining in stock repurchase authorization [7] Business Developments - Dolby continues to see strong momentum with Dolby Atmos and Dolby Vision, expanding its market through imaging patent programs and Dolby OptiView [2] - Over 35 automotive OEMs have adopted Dolby Atmos, with notable partnerships including Mercedes-Benz and Mahindra [7] - Peacock is the first streaming service to implement Dolby's full suite of advanced picture and sound technologies, including Dolby Vision 2 [7] Dividend Announcement - Dolby announced a cash dividend of $0.36 per share for Class A and Class B common stock, payable on February 18, 2026 [5] Financial Outlook - For the second quarter of fiscal 2026, total revenue is estimated to range from $375 million to $405 million, with licensing revenue expected between $350 million and $380 million [11] - For the full year of fiscal 2026, total revenue is projected to be between $1.4 billion and $1.45 billion [11] - Gross margins are anticipated to be approximately 90% on a GAAP basis and 91% on a non-GAAP basis [11]

Core Viewpoint - Dolby Laboratories, Inc. will announce its financial results for Q1 fiscal year 2026 on January 29, 2026, after market close [1] Group 1: Financial Results Announcement - The financial results for Q1 fiscal year 2026 will be released after the close of regular trading on January 29, 2026 [1] - A conference call will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the financial results [1] Group 2: Teleconference Access - Access to the teleconference can be obtained via the investor relations website or by dialing a specific phone number with a confirmation code [2] - A replay of the call will be available from 5:00 p.m. PT on January 29, 2026, until 8:59 p.m. PT on February 5, 2026 [3] Group 3: Company Overview - Dolby Laboratories is a leader in immersive entertainment, providing experiences across various media including movies, TV, music, and gaming [4] - The company is known for innovations such as Dolby Atmos, Dolby Vision, and Dolby Cinema, enhancing entertainment experiences for billions globally [4]

Core Viewpoint - The theatrical industry is experiencing significant changes, with IMAX emerging as a leader amidst the turmoil, while other theater stocks like AMC, Cinemark, and Marcus Theatres are struggling [1][3]. Group 1: IMAX Performance - IMAX shares increased by over 44% in 2025, driven by a record global box office of $1.28 billion, which is a more than 40% increase from 2024 and 13% higher than the previous record in 2019 [2]. - IMAX reported a net income of $43 million in the first nine months of 2025, marking a 67% increase from the same period in 2024, and was profitable in all three quarters of the year [18]. Group 2: Industry Challenges - Domestic ticket sales have rebounded but remain about 25% below the record $11.8 billion from 2018, with the 2025 box office falling short of the $9 billion analysts projected [4]. - The industry is facing challenges due to changing consumer habits, with streaming services becoming a more attractive option for entertainment [5]. Group 3: Premium Large Format (PLF) Trends - In 2025, over 16% of domestic tickets sold were for premium large format theaters, up from 15% in 2024 and 13.8% in 2023, indicating a growing preference for elevated viewing experiences [7]. - The average ticket price for general movies in 2025 was $13.29, while PLF tickets averaged around $17.65, reflecting the higher value consumers place on premium experiences [8]. Group 4: Future Outlook - IMAX is expected to benefit from a slate of upcoming big-budget films, with a forecasted global box office haul of $1.4 billion for 2026 [11]. - The company has over 1,700 locations and a backlog of 478 contracts to build IMAX screens, indicating strong growth potential [12].

Core Insights - AMC Entertainment Holdings, Inc. is recognized as one of the best stocks under $5 on the NYSE, with recent strategic moves aimed at enhancing financial flexibility and capitalizing on strong box office performance [1][2]. Financial Flexibility and Debt Management - AMC, along with its subsidiary Muvico, amended the terms of Muvico's Senior Secured Exchangeable Notes due 2030 to allow for greater financial flexibility, including an increase in the total net proceeds cap for at-the-market offerings from $100 million to $150 million [1]. - The amendment also revised the exchange rate for converting notes into AMC common stock, facilitating potential capital raises [1]. Box Office Performance - AMC reported its strongest pre-Christmas weekend since 2021, with over 4 million moviegoers from December 18 to 21, driven by the release of "Avatar: Fire & Ash," which grossed $88 million domestically and $345 million worldwide [2]. - The North American box office for that weekend reached approximately $163 million, indicating a robust recovery in attendance [2]. Stake Sale in Hycroft Mining - On December 5, AMC sold the majority of its equity stake in Hycroft Mining for about $24.1 million, which included 2.34 million shares and warrants for 1.34 million shares, while retaining over 1 million warrants and about 64,000 shares for future upside [3]. - This strategic divestment is aimed at monetizing AMC's previous investment while freeing up capital for its core theater operations [4]. Leadership Insights - CEO Adam Aron emphasized that the recent moves are designed to monetize AMC's 2022 investments and to position the company favorably for future growth, especially with strong holiday box office results and an appealing film slate ahead [4].

Core Viewpoint - AMC Entertainment Holdings Inc is experiencing a significant disconnect between strong box office performance and declining stock prices, with shares down over 50% year to date, trading around $1.75, despite a surge in attendance due to the release of "Avatar: Fire and Ash" [1][3]. Group 1: Box Office Performance - AMC reported its strongest pre-Christmas weekend since 2021, with over four million customers visiting AMC and ODEON locations globally [1]. - "Avatar" opened with $88 million domestically and $345 million globally, with premium formats like IMAX and Dolby Cinema contributing significantly to admissions revenue [4]. Group 2: Investor Sentiment - Billionaire hedge fund manager Robert Citrone has initiated a new position in AMC, purchasing approximately 32.75 million shares at an average price of $2.16, representing nearly 4% of his portfolio, indicating a potential contrarian view on the stock [3]. - The market may be overly pessimistic about AMC, as the company still operates around 860 theaters with 9,600 screens worldwide, suggesting that stabilization in box office trends could lead to a stock rebound [6]. Group 3: Financial Concerns - AMC has amended its exchangeable note agreement, allowing for up to $150 million in future at-the-market stock offerings starting in February 2026, which raises concerns about potential stock dilution [5]. - A consent fee of $6.25 million paid in AMC shares adds another layer of dilution risk for shareholders [5].

Core Insights - Dolby Laboratories, Inc. will release its financial results for Q4 and the full fiscal year 2025 on November 18, 2025, after market close [1] - A conference call will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the financial results [1] Financial Results Announcement - The financial results will cover the fourth quarter and the entire fiscal year 2025 [1] - Access to the teleconference will be available via a dedicated link or by phone, with a confirmation code required for entry [2] Teleconference Details - A replay of the conference call will be available from November 18, 2025, at 5:00 p.m. PT until November 25, 2025, at 8:59 p.m. PT [3] - The replay can be accessed by phone, and an archived version will also be available on the investor relations website [3] Company Overview - Dolby Laboratories is recognized as a leader in immersive entertainment, providing innovative experiences across various media including movies, TV, music, and gaming [4] - The company collaborates with artists and brands to enhance entertainment through technologies like Dolby Atmos and Dolby Vision [4]

Core Insights - The summer box office for 2025 has surpassed 8.5 billion yuan as of August 10, showcasing a diverse range of film genres including history, suspense, animation, science fiction, and action, catering to various audience preferences [1] Group 1: Cinema Experience - Different types of cinema halls such as laser halls, giant screen halls, and CINITY halls offer unique features to enhance the viewing experience [1][4] - Laser halls prioritize high brightness, while CINITY halls focus on high frame rates and smooth motion for action scenes [3][8] - IMAX theaters provide larger screens and immersive sound systems, suitable for sci-fi and action films [5] - Dolby Cinema enhances picture quality and sound experience, ideal for musicals and special effects films [6][7] Group 2: Film Types and Release Schedule - A variety of films are currently showing or set to release during the summer season, including genres like animation, drama, comedy, and historical narratives [21][22][23] - Notable films include "Chatting with the Ghost: Lan Ruo Temple," "The Lychee of Chang'an," and "The Unknown," among others, with release dates spanning from July 12 to August 29 [22][23]

Core Viewpoint - Dolby Laboratories, Inc. will announce its financial results for Q3 fiscal year 2025 on July 31, 2025, after market close [1] Financial Results Announcement - The financial results will be discussed in a conference call led by Dolby management at 2:00 p.m. PT (5:00 p.m. ET) on the same day [1] - Access to the teleconference can be obtained via a dedicated website or by dialing a specific phone number with a confirmation code [2] Replay and Archive Information - A replay of the conference call will be available from 5:00 p.m. PT on July 31, 2025, until 8:59 p.m. PT on August 7, 2025 [3] - An archived version of the teleconference will also be accessible on the Dolby Laboratories investor relations website [3] Company Overview - Dolby Laboratories is recognized as a leader in immersive entertainment, providing experiences across various media including movies, TV, music, sports, and gaming [4] - The company collaborates with artists and brands to enhance entertainment through innovations like Dolby Atmos and Dolby Vision [4]