Analyst: AMC Entertainment to Benefit From Strong Domestic Box Office

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The following is an excerpt from a report compiled by Michael Pachter of Wedbush Securities.

AMC Entertainment (NYSE:AMC) will report first-quarter 2014 results after the market close on Tuesday and host a conference call at 2 p.m. Pacific Time (dial-in: 877-407-3982; webcast: investor.amctheatres.com).

We expect Q1:14 results in line with our estimates for revenue of $618 million, versus consensus of $617 million and for earnings per share of 10 cents, versus consensus of 1 cent. We expect an increase in Q1:14 attendance per average screen, higher concession revenues due to a family friendly slate, and a decrease in average ticket price from the underperformance of the premium product.

2014 is off to a strong start for domestic box office results and IMAX films. Captain America: The Winter Soldier is producing summer blockbuster results in April, with $207 million since opening on April 4. The highest-grossing film quarter-to-date in Q2:13 was The Croods, at roughly $67 million. Q2:14 box office is up 20.1 percent compared to last year. The results of Captain America are being bolstered by the success of The Avengers franchise, which also helped Thor: The Dark World this past November.

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