AMC Entertainment Holdings, Inc. AMC is scheduled to release second-quarter 2026 results on July 20.
The Zacks Consensus Estimate for AMC’s second-quarter loss per share is expected to be 1 cent against breakeven earnings reported in the prior-year quarter. The consensus mark for the second-quarter loss per share has narrowed to 1 cent from 7 cents in the past 60 days.
AMC Earnings Estimate Trend
Image Source: Zacks Investment Research
The consensus mark for second-quarter revenues is pegged at $1.48 billion, indicating a rise of 6.2% from the year-ago quarter’s reported figure.
AMC has a modest earnings surprise history in the trailing four quarters. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and lagged twice, the average surprise being 21.7%. In the previous quarter, the company reported an earnings miss of 12.5%.
AMC Earnings Surprise History
Image Source: Zacks Investment Research
Q2 Earnings Whispers for AMC Stock
Our proven model predicts an earnings beat for AMC this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.
AMC’s Earnings ESP: AMC has an Earnings ESP of +100.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
AMC’s Zacks Rank: The company carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
AMC Entertainment Holdings, Inc. Price and EPS Surprise
AMC Entertainment Holdings, Inc. price-eps-surprise | AMC Entertainment Holdings, Inc. Quote
Factors Likely to Influence AMC’s Q2 Results
AMC’s second-quarter 2026 performance is likely to have benefited from an improving theatrical release calendar and stronger early-quarter box-office momentum. A broader mix of franchise titles, original content and mid-sized productions is expected to have supported attendance across the company’s domestic and European circuits, providing a favorable backdrop for admissions, food and beverage, and merchandise revenues. The Zacks Consensus Estimate for second-quarter food and beverage revenues is pegged at $504 million, indicating an increase from $499.6 million reported in the prior-year period. The consensus mark for Admission revenues is projected at $771.9 million, reflecting a rise of 1.2% year over year.
AMC’s premium large-format network is likely to have supported its second-quarter performance. The company operates a broad portfolio of IMAX, Dolby Cinema, ScreenX, PRIME at AMC, iSense and XL auditoriums, which generally command higher ticket prices and capture an outsized share of demand for major releases. During the opening weekend of Michael in the second quarter of 2026, premium large-format screens accounted for approximately 48% of AMC’s revenues from the film, despite representing less than 10% of the company’s total screen count. This favorable format mix is likely to have supported average ticket revenues and consolidated revenue per patron during the quarter. The Zacks Consensus Estimate for other theatre revenues is pegged at $138.4 million, indicating an increase from $135.7 million reported in the prior-year quarter.
Ancillary spending is expected to have provided an additional top-line catalyst. AMC continues to expand its food and beverage offerings, collectible concessions and movie-themed merchandise business, which has developed into an approximately $100 million annual revenue stream. Higher attendance, combined with continued consumer demand for film-related products, may have supported incremental spending beyond admissions. The company’s A-List subscription program, which recently surpassed 1 million members, and its 39-million-household AMC Stubs membership base are also likely to have supported visit frequency, customer engagement and concession demand.
International operations may have provided further support in the second quarter. AMC indicated that its European business materially exceeded internal expectations during the first four months of 2026. Improving box-office demand and moderating ticket-price competition are likely to have supported Odeon’s performance. Meanwhile, broader use of variable pricing and continued development of merchandising initiatives may have provided additional revenue-per-patron opportunities across the European circuit.
AMC’s balance-sheet actions may have moderated pressure on the second-quarter bottom line. The company refinanced $400 million of debt carrying a 12.75% interest rate with a new $425 million term loan carrying a 10.5% rate. It also converted approximately $155.8 million of exchangeable notes into equity. The lower coupon on the refinanced debt and the removal of the exchangeable notes are expected to have begun reducing annual financing costs while strengthening AMC’s liquidity and financial flexibility.
AMC Stock Price Performance & Valuation
Shares of AMC have gained 32.7% so far this year against the industry’s 6.9% fall. In the same time frame, other industry players like Cinemark Holdings, Inc. CNK have risen 29.2%, while The Marcus Corporation MCS has climbed 46.2%.
YTD Price Performance – AMC, CNK, MCS & Industry
Image Source: Zacks Investment Research
From a valuation standpoint, AMC trades at a forward price-to-sales (P/S) multiple of 0.34, below the industry’s average of 2.68.
AMC’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
Cinemark and Marcus have P/S ratios of 0.99 and 0.85, respectively.
Investment Considerations for AMC Stock
AMC’s improving theatrical backdrop continues to support its operating outlook, aided by a broader film slate, strengthening box-office momentum and an extensive premium large-format footprint. Higher-priced IMAX, Dolby Cinema, PRIME, iSense and XL offerings should enhance admissions revenues, while food and beverage sales, collectible concessions and a merchandise business approaching $100 million annually provide additional avenues for revenue-per-patron growth. Expanding A-List membership, AMC Stubs engagement, improving European operations and continued theater-portfolio optimization further strengthen the company’s ability to translate higher attendance into improved profitability.
On the financial front, the refinancing of $400 million of high-cost debt and the conversion of approximately $155.8 million of exchangeable notes into equity should likely reduce financing pressure and extend AMC’s maturity runway. Longer theatrical windows, the rollout of Arena 1 and continued investment in premium screens and upgraded seating could also broaden revenue opportunities.
How Should You Play AMC Pre-Q2 Earnings?
AMC enters the second-quarter release with improving operating momentum, supported by a stronger film slate, sustained premium-format demand, higher ancillary spending and better performance across its European circuit. Recent refinancing and debt-conversion actions have also enhanced financial flexibility and eased financing pressure.
The positive Earnings ESP points to a favorable earnings setup, while AMC’s discounted valuation and improving recovery trajectory offer selective upside for risk-tolerant, long-term investors. Sustained box-office growth and further balance-sheet progress could support additional upside, reinforcing AMC’s case as a stock worth owning.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AMC Entertainment Holdings, Inc. (AMC): Free Stock Analysis Report
Marcus Corporation (The) (MCS): Free Stock Analysis Report
Cinemark Holdings Inc (CNK): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).