AMC Entertainment swung to the black for the three months ended in September on higher revenue, noting market share gains in both domestic and international markets, with CEO Adam Aron saying the chain’s second consecutive record quarter means the company has “recovered” from its post-Covid struggles.
The world’s largest exhibitor swung to a profit of $109.3 million from a year-earlier loss of $298.2 million. Revenue rose 31% to $1.7 billion and surpassed a previous all-time high achieved in Q2 2026.
During the quarter, the company completed a $3.97 billion refinancing covering approximately 97% of its debt, extending maturities to late 2031 and 2033, simplifying its capital structure and reducing cost of capital. Aron said that allows the company to “move forward from a position of significantly increased balance sheet strength.”
On a call after the earnings report, he also said AMC would be cash-flow positive for full-year 2026.
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Strengthening the balance sheet has been his key priority since after the dark days of the pandemic pummeled theaters and was particularly devastating to chains like AMC, which already carried significant debt after years of expansion. Rumors of imminent bankruptcy have dogged the company for years since. On the call, Aron insisted AMC has outrun the crisis after paying down several billion dollars in debt over time and with the help of a newly healthy box office.
“On this webcast, I declare that AMC has finally emerged from the storm clouds created by Covid,” he said.
The current fourth quarter continues strong with the October domestic box office up some 35% year on year, he said, anticipating upcoming films I Play Rocky, Wild Horse Nine, Ebenezer, The Further Mis-Adventures of Cliff Booth, The Hunger Games: Sunrise on the Reaping, Dune: Part Three, Avengers: Doomsday, Mr. Irrelevant and Jumanji: Open World, which Aron called “an impressive and promising film slate that is a fitting close to a wonderful year for moviegoers.
He said he sees the remaining film slate propelling both the domestic and global box office to their highest full-year levels in seven years, with domestic box office easily hitting $10 billion or more.
“Today, we can finally say that AMC has recovered. To our studio partners, lenders, business partners, employees and our millions of passionate shareholders, thank you for standing with us as we traveled through a long, and at times brutal, road,” he said. “Mere survival was never the goal. Our goal ultimately was to thrive, and that is exactly and precisely where our focus now lies. We are highly energized by the tremendous opportunities ahead.”