'We look forward to what we believe will be material growth in the industrywide box office,' CEO Adam Aron says

AMC Entertainment shares rose 1% 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.

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

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.

In a statement, AMC Chief Executive Adam Aron said that more than 62 million guests visited an AMC theater 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 in a statement.

"What a superb quarter AMC just completed," said Aron, 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.

"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 same period last year 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.

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