AMC Sets Record Q3 Revenue at $1.71 Billion, Swings to Profit

AMC Entertainment Holdings Inc. reported third-quarter revenue of $1,711.1 million, up 31.6% from $1,300.2 million a year earlier, and said the figure was the highest quarterly revenue in the company’s 106-year history, according to its Nov. 4 earnings release.

Net earnings were $109.3 million, or $0.12 per diluted share, compared with a net loss of $298.2 million, or $0.58 per share, in the third quarter of 2025. Adjusted EBITDA rose 183.7% to $347.5 million from $122.5 million, also an all-time quarterly high, the company said. Free cash flow was $109.3 million for the quarter.

Attendance and ticket sales

Attendance climbed 28.3% to 74.9 million patrons. U.S. markets drew 52.1 million guests, up 23.3%, while international markets rose 41.5% to 22.8 million. Admissions revenue was $953.5 million and food and beverage revenue $589.4 million. AMC said market-share gains at home and abroad and record revenue per patron helped convert a stronger box office into higher sales.

Chairman and Chief Executive Adam Aron said the quarter was AMC’s second consecutive record for both revenue and adjusted EBITDA, after the company first topped its prior peaks in the second quarter of 2026. Adjusted EBITDA margin reached 20.3%, more than double the 9.4% margin a year earlier, according to the release. Deadline reported that on the earnings call Aron declared AMC had “finally emerged from the storm clouds created by Covid” and that the company had “recovered.”

Debt refinance and cash

Cash and cash equivalents stood at $751.9 million at Sept. 30, excluding $39.6 million of restricted cash, up from $365.8 million a year earlier. On Oct. 5, AMC completed a $3.97 billion refinancing covering about 97% of its debt, extending maturities to late 2031 and 2033, the company said. Aron told investors on the call that AMC expects to be free-cash-flow positive for full-year 2026, Deadline reported.

AMC operated about 840 theatres and 9,500 screens worldwide at quarter-end. Aron pointed to a strong October domestic box office, up about 35% from a year earlier, and a slate of late-year releases he said could push domestic and global box office to their highest full-year levels in seven years.

Sources: AMC Entertainment Exhibit 99.1, Deadline