AMC Entertainment Holdings says 2027 capex depends on box office levels

On its third-quarter call, AMC Entertainment Holdings said it is still working through its 2027 budget. Chief Financial Officer Sean Goodman said that, if box office continues at current levels and given operating profit and free cash flow generation, net capital expenditure is likely to be in the mid to high end of the 2026 guidance range of $200 million to $235 million.

Goodman said the company has increased capital spending when it found high-return opportunities and cut back when needed over the past six years.

Quotes from the call

“We've guided to $200 million to $235 million for 2026. We're still working through our budget and planning for 2027. I would expect if the box office continues to perform at these levels and given our operating profit and our free cash flow generation, we're likely to be in the mid- to high end of that range in 2027.”