AMC Theatres Lost $202 Million in Q1 Amid Box Office Slump

AMC Entertainment took an expected big financial hit in the first quarter of 2025 with revenue and net losses worsening compared to the start of 2024 as domestic grosses at the box office sank to $1.41 billion.

Net losses for the quarter came in at $202 million, down from the $163 million loss reported in Q1 2024. Revenue fell nearly 10% year-over-year to $862 million from $951 million the year prior.

Beating estimates: Despite the poor numbers, Wall Street had expected them to be worse. Zacks Investment Research had predicted quarterly revenue of $838 million, with a loss per share attributable to shareholders of 61 cents per share. Diluted loss per share came in above that at 47 cents per share.

Attendance: With films like “Snow White” significantly underperforming, attendance at AMC Theatres dropped 10% year over year to 41.9 million tickets sold compared to 46.6 million the year prior.

Despite the downturn, AMC CEO Adam Aron reminded shareholders that the weak first quarter should not be seen as a sign of poor performance to come. Thanks to films like Warner Bros.’ “A Minecraft Movie” and “Sinners,” as well as Disney/Marvel’s “Thunderbolts*,” domestic grosses for the second quarter of 2024 have already surpassed $1 billion with films like Paramount’s “Mission: Impossible — The Final Reckoning,” Sony’s “28 Years Later” and remakes of Disney’s “Lilo & Stitch” and DreamWorks’ “How to Train Your Dragon” still on the way in May and June.

“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,” he said.

Since its meme stock spike in 2021, AMC’s stock price has cratered due to ongoing concerns about debt load and the company’s 2023 reverse stock split to ensure healthy cash flow. But the better-than-expected numbers have kept its price steady at $2.70/share in after-hours trading.

More to come…

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