AMC reported strong Q3 earnings, above Street estimates. The softer film slate in the second half of Q3 offset a strong start, which featured carryover product from Q2, such as Top Gun: Maverick, as well as the July release of Minions: The Rise of Gru, and Thor: Love and Thunder.
There is a robust slate of blockbusters, though the overall pace of releases appears to still be building back to a more normalized level, said the analyst.
Goss said AMC is the largest operator of Imax Corp IMAX IMAX and Dolby Cinema screens.
The company also has its own PLF format, AMC Prime. With a blockbuster-heavy slate, PLF formats have done well in attracting consumers for a premium experience at a premium price.
He cited AMC has made efforts to grow the theatrical business and extend beyond traditional operations, including home delivery of concessions and retail sales of AMC-branded microwave popcorn. A branded credit card is targeted for the Q1 launch.
AMC is also seeking to leverage its circuit footprint with its recent Zoom Video Communications, Inc. ZM Zoom partnership to expand its meetings business with a function it feels would be of value to decentralized workforces.
