AMC first-quarter results on deck as analysts eye box-office rebound
May 4, 2023
AMC Entertainment Holdings Inc. reports its fiscal first-quarter results Friday, with Wall Street eager to see whether the movie-theater chain and meme-stock darling can harness a rebound in cinema attendance.
Analyst firm Wedbush expects AMC’s first-quarter domestic attendance to be up 23% year over year. Theatrical exhibition is on the path to postpandemic normalization, with an improving release slate in 2023, according to Wedbush analyst Alicia Reese. “Our early estimates are for 2023 North American box office to end up 12% over 2022 (~75% of 2019 box office), with AMC at least maintaining its 22% market share if not expanding with its vast network of premium large format screens,” she said in a note released Thursday. “We expect European box office to improve over time as AMC updates its circuit in the region.”