Movement Alert|AMC Entertainment Rises 8.81% in Regular Trading, Strong Second Weekend Box Office for The Odyssey Extends Rally

Market Focus
Jul 28

On July 28, AMC Entertainment rose 8.81% in regular trading, trading at $2.47/share, with turnover of $88.21 million. The rally was driven by the company's announcement that Christopher Nolan's \"The Odyssey\" generated $87 million at the domestic box office during its second weekend, bringing cumulative North American gross to approximately $286 million and global box office to roughly $640 million.

AMC highlighted that it operates about half of all IMAX screens in the United States, making it a significant contributor to the film's premium-format ticket sales. IMAX separately reported $48 million in global IMAX box office over the weekend, with total IMAX revenue for the film reaching $140 million. The sustained box office momentum follows AMC's record Q2 results reported on July 20, which featured adjusted EPS of $0.14 versus an estimated loss of $0.06, record revenue of $1.60 billion, and record adjusted EBITDA of $321 million. Analysts including Wedbush have raised price targets, citing market share gains and a strong release slate ahead.

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