AMC Entertainment Holdings, Inc. AMC reported second-quarter 2026 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines improved from the prior-year quarter’s levels.
AMC’s performance benefited from a strong and diverse film slate, which drove higher attendance across its global theater circuit. The company also gained from stronger food, beverage and merchandise sales, increased premium-format usage, solid loyalty and subscription engagement, improved per-patron profitability, portfolio optimization and disciplined cost control.
However, AMC reported a wider GAAP net loss, reflecting substantial interest expense and other non-operating charges related to debt and derivative accounting. The company also remains highly leveraged, and management acknowledged that further debt reduction is necessary
Following the release, AMC stock gained 26.8% during trading hours yesterday.
AMC's Q2 Earnings & Revenue Discussion
For the second quarter, the company reported adjusted earnings of 14 cents per share compared with breakeven earnings a year ago. The figure surpassed the Zacks Consensus Estimate of 1 cent by 1,300%.
AMC Entertainment Holdings, Inc. Price, Consensus and EPS Surprise
AMC Entertainment Holdings, Inc. price-consensus-eps-surprise-chart | AMC Entertainment Holdings, Inc. Quote
Revenues rose 14.2% year over year to $1.60 billion and beat the consensus mark of $1.51 billion by 5.83%. Higher attendance, increased food and beverage sales, and disciplined cost management drove the performance.
Attendance Gains Support Revenue Growth
Worldwide attendance increased 13.5% year over year to 71.3 million patrons. U.S. attendance rose 12% to 52.5 million, while international attendance advanced 17.9% to 18.8 million.
Admissions revenues climbed 13.2% to $863.1 million. Food and beverage revenues increased 15.3% to $576.1 million, while other theater revenues rose 16.1% to $157.5 million. The gains reflected a stronger film slate and increased spending across AMC’s global theater circuit.
AMC Posts Broad Segment Gains
U.S. market revenues increased 13% year over year to $1.26 billion. Adjusted EBITDA for the segment climbed 57.5% to $285.6 million from $181.3 million.
International market revenues advanced 19.2% to $338.1 million. Adjusted EBITDA jumped 336.6% to $35.8 million from $8.2 million. European currency appreciation provided an approximately 2% benefit to international revenues and EBITDA during the quarter.
AMC Improves Per-Patron Metrics
Consolidated food and beverage revenues per patron increased to $8.08 from $7.95 in the prior-year quarter. The metric reached $8.95 in the United States and $5.66 in international markets.
Consolidated contribution margin per patron improved to $14.71 from $14.48. U.S. contribution margin per patron rose to $15.55 from $15.27, while the international figure increased to $12.36 from $12.18.
Profitability of AMC
Consolidated adjusted EBITDA increased 69.6% year over year to a record $321.4 million from $189.5 million. Adjusted EBITDA margin expanded to 20.1% from 13.6%.
Operating income increased to $238.1 million from $92.6 million. Total operating costs and expenses rose 4.1% to $1.36 billion, well below the pace of revenue growth.
AMC’s Cash Flow & Liquidity Strengthen
Net cash provided by operating activities increased 70.1% to $235.4 million. Free cash flow rose to $190.1 million from $88.9 million, while capital expenditures declined to $45.3 million from $49.5 million.
AMC ended the quarter with cash and cash equivalents of $778.4 million, excluding $41.1 million of restricted cash, up 81.7% from $428.5 million as of Dec. 31, 2025. Corporate borrowings declined to $3.85 billion from $4.04 billion at the end of 2025.
AMC’s Zacks Rank & Other Key Picks
Currently, AMC flaunts a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks from the Consumer Discretionary sector:
Flexsteel Industries, Inc. FLXS currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks Rank #1 stocks here.
The company delivered a trailing four-quarter earnings surprise of 59%, on average. FLXS stock has surged 85.1% in the year-to-date period. The Zacks Consensus Estimate for Flexsteel’s fiscal 2026 sales and EPS implies growth of 3.8% and 14.6%, respectively, from the year-ago levels.
The Marcus Corporation MCS currently sports a Zacks Rank #1. The company delivered a trailing four-quarter negative earnings surprise of 40.4%, on average. MCS stock has jumped 53.3% in the year-to-date period.
The Zacks Consensus Estimate for Marcus’ 2026 sales and EPS indicates an increase of 6.2% and 211.8%, respectively, from the year-ago levels.
Vince Holding Corp. VNCE currently has a Zacks Rank of 2 (Buy). The company delivered a trailing four-quarter earnings surprise of 635.7%, on average. VNCE stock has rallied 58.4% in the year-to-date period.
The Zacks Consensus Estimate for Vince Holding’s 2026 sales and EPS implies growth of 7.2% and 34.1%, respectively, from the year-ago levels.
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
Flexsteel Industries, Inc. (FLXS): Free Stock Analysis Report
Vince Holding Corp. (VNCE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).