MW AMC's stock climbs as improving box office boosts Q4 revenue, while CEO slams 'crackpot conspiracy theorists'

By James Rogers

'My interests are directly aligned with yours,' CEO Adam Aron told shareholders during the company's fourth-quarter earnings call

AMC Entertainment Holdings Inc. shares rose 1.2% in extended trading Tuesday after the movie-theater chain and original meme stock reported better-than-expected fourth-quarter revenue, lifted by an improving box office.

Chief Executive Adam Aron also used the fourth-quarter earnings call to decry the "false information floating around AMC" on social media and took aim at "crackpot conspiracy theorists."

Quarterly revenue was $1.306 billion, up from $1.104 billion in the same period last year and above the FactSet analyst consensus estimate of $1.291 billion.

AMC $(AMC)$ lost $135.6 million, or 35 cents a share, after a loss of $182 million, or 83 cents a share, in the prior year's quarter. Analysts surveyed by FactSet were looking for a loss of 16 cents a share. On an adjusted basis, AMC lost 18 cents a share, in line with the FactSet consensus estimate.

Related: AMC poised for 'multiyear recovery' fueled by strong 2025 film slate, says analyst

In a statement, Aron said that more than 62 million guests visited AMC theaters worldwide during the quarter, marking a postpandemic fourth-quarter record and a 20% increase over the same period in 2023. "As we look ahead to 2025 and beyond, we look forward to what we believe will be material growth in the industrywide box office," he said.

"What a superb quarter AMC just completed," Aron added during a conference call to discuss the results, highlighting the performance of November and December blockbusters "Gladiator 2," "Wicked," "Moana 2" and "Mufasa: The Lion King."

Aron explained that 2024 was "truly a year of two halves," with the first half of the year still impacted by the Hollywood strikes of 2023. However, the second half of the year saw a "resurgent" box office, he said.

Related: Cash is king, says under-fire AMC chief executive after equity raise

"It's clear that our industry finally is getting healthier," Aron added. "We anticipate that the box office will strengthen with each successive quarter."

While the first quarter is seasonally the quietest, the CEO said that it will be significantly outpaced by the second quarter of 2025. Aron anticipates a "vibrant summer for moviegoing," and noted that AMC will close out 2025 with blockbusters such as the second part of "Wicked," Walt Disney Co.'s $(DIS)$ "Zootopia 2" and the next installment of James Cameron's "Avatar."

Fourth-quarter admissions revenue was $721.4 million, up from $614.6 million in the year-earlier period and above the FactSet consensus of $719 million. Food-and-beverage revenue was $446.2 million, up from $370.2 million in the prior year's quarter. Analysts surveyed by FactSet were looking for food-and-beverage revenue of $437 million.

AMC ended the quarter with cash and cash equivalents of $632.3 million.

Related: AMC and Cinemark rode 'incredible' Black Friday box office surge, research finds

Aron also used the call to speak directly to the company's shareholders, noting that he plays close attention to social-media commentary on AMC. "Sadly, there is so much false information floating around AMC" on social media, he said, while aiming a dig at "crackpot conspiracy theorists."

"Please know that I am acutely aware of AMC's share-price decline over the last three years," the CEO said, noting that he hasn't sold a share in three years. "Instead, I have increased my share position."

"My interests are directly aligned with yours," Aron added. The CEO holds about 975,000 shares of AMC, according to FactSet data.

AMC shares closed at $3.27 Tuesday, well below their peak of $393.63 at the height of the meme-stock frenzy.

Related: AMC enters agreement with Goldman to sell up to 50 million shares

Last month, Aron took to X, formerly Twitter, to address the concerns of angry shareholders after AMC's sale of almost $184 million of stock.

During Tuesday's conference call, he said that there will be no more cash raised from the sale of common stock in 2025 unless approved through a shareholder vote.

Shares of AMC have fallen 32% in the past 12 months, while the S&P 500 index SPX has gained 17.3%.

Steve Goldstein contributed.

-James Rogers

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February 25, 2025 19:01 ET (00:01 GMT)

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