Rick Munarriz, The Motley Fool
5 min read
Multiplex operators have to be clicking their heels this year. Yet another unlikely theatrical release is bringing audiences back to the silver screen, and AMC Entertainment (NYSE: AMC) is soaring again as the country’s largest exhibitor.
A24’s You Can See Everything — a film that starts with a Nathan Fielder-led documentary crew covering the last few weeks of disgraced Theranos CEO Elizabeth Holmes with her family before heading to prison in 2023 — has more twists than an AMC Bavarian pretzel. It heads into this weekend as one of the rare films projected to likely increase ticket sales after a robust opening weekend.
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AMC investors are being rewarded. The stock is up 86% in 2026. Are you really seeing everything?
Who is on the first
Folks are storming back to the movies in a major way this year. Year-to-date domestic box office receipts are up 21% from this point last year, making this a lock to be the strongest year for multiplex operators since 2019. The biggest movie of the year — Avengers: Doomsday — hasn’t even come out yet.
At least six films put out this year will top $1 billion in worldwide ticket sales, something that has only happened once before in the history of cinema. AMC stock is more than happy to go along for the ride. Analysts see the theater chain’s revenue rising 18% to $5.7 billion. Perhaps more importantly for a survivalist narrative, AMC should generate positive adjusted earnings for the first time since 2018.
AMC joins at least two smaller chains that returned to profitability years ago. Those rivals even pay out modest dividends. AMC isn’t there yet, but after years of ill-advised dilution and distractions, turning the corner is really happening. All it needed was a break, and it got it this year, with studios cranking out films that are rekindling moviegoers’ interest in the medium.
What is on second
There have been obvious blockbusters this year. The real pleasant surprise has been the wave of sleeper hits. Two of this year’s biggest draws — Obsession and Backrooms — are low-budget horror movies directed by 20-something YouTubers.
This brings us to last weekend’s debut of Fielder’s You Can See Everything. The next-gen documentary generated $15.7 million in stateside ticket sales in its opening weekend. This may not seem like a lot. It’s less than the premiere of Street Fighter collected over the same weekend. However, the film did set some recent records with its initial screenings.
