AMC Entertainment saw revenue slip and net losses widen last quarter on the now well-known story of an oddly soft three months for moviegoing. But CEO Adam Aron insisted that “Anyone trying to draw any conclusions about the success or appeal of movie theatres from the results of the first quarter of 2025 is likely to be mistaken, because the industrywide domestic box office in Q1 was in our view a distorting anomaly that has already corrected itself. We continue to believe that moviegoing demand for the balance of 2025 and all of 2026 will show great strength.”
The company saw a net loss of $202 million grow from $163 million in the year-earlier quarter on revenue ahead of Wall Street forecasts at $862 million, down from $951 million.
EPS was in line at negative 59 cents a share, an improvement with more shares outstanding.
“Setting aside those first quarters directly impacted by Covid and its aftermath, the January to March industry box office in 2025 was the lowest it has been since 1996. If that level of activity were to continue, of course it would be highly problematic for movie theatres. But to the contrary, since April 1, movie theatre demand has been booming. The April 2025 industry-wide domestic box office was double that of April 2024, and so far in May the box office again has been running at double the rate of a year ago. So, we believe that any negative assertions drawn from first quarter results about the movie theatre industry are likely to be wholly erroneous,” he said.
The once high-flying meme stock is moving sideways in after-market trade at around $2.70.
Aron wil host a call with analysts at 5 pm ET.
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