AMC Theatres Rides Box Office Rebound to Record Revenue in Third Quarter

AMC Entertainment reported record third-quarter revenue as a stronger film slate and demand for premium cinema screens brought more customers back to its theatres. The rebound improved profits and gives the chain more room to address its large debt burden, though its financial recovery will face another test during the holiday season.

Revenue rose 31 per cent year on year to $1.71 billion, while AMC recorded net income of $109.3 million, compared with a $298.2 million loss a year earlier. Adjusted EBITDA reached a quarterly record of $347.5 million; admissions revenue was $953.5 million and food and drink sales were $589.5 million. Attendance totalled 52 million in the US and 22.7 million internationally, while refinancing deals pushed about $4 billion in debt maturities to 2031 and 2033.