AMC Posts Record Third-Quarter Revenue on Box Office Rebound

AMC Entertainment’s revenue rose 31% from a year earlier to $1.71 billion in the three months ending in September, setting a company quarterly record and marking its second consecutive record-setting quarter. The company’s adjusted EBITDA reached $347.5 million, compared with $122.5 million a year earlier, also a quarterly record.

The results came as films including a new adventure featuring the web-slinging hero and an epic inspired by Homer drew moviegoers. AMC said admissions revenue reached $953.5 million, up from $715.1 million in the same quarter last year. Food and beverage revenue climbed to $589.5 million from $451.8 million.

AMC counted 52 million admissions at its U.S. theaters and another 22.7 million at international locations. Chief Executive Adam Aron credited a stronger box office, market-share gains, loyalty programs and demand for premium-format auditoriums. He also said revenue per patron reached an all-time high.

The company continues to work on its substantial debt burden. Recent refinancing deals extended about $4 billion in debt maturities to 2031 and 2033, giving AMC more time to address its borrowings and interest costs.

AMC is looking to the holiday movie slate, which includes a prequel about the origins of the Hunger Games, a new Avengers installment titled Doomsday and the third Dune film, as a further test of the box office recovery.