AMC set for Q4 share gains but expect a ‘tumultuous’ 2024, says Wedbush

AMC Entertainment Holdings Inc. is set for share gains when it reports fourth-quarter results Wednesday, according to analyst firm Wedbush, although 2024 could be a “tumultuous” year for the movie-theater chain.

“AMC expanded its market share in 2023 and is positioned to maintain or expand further on its 22% market share with its vast network of premium large-format screens and concert movie distribution,” Wedbush analyst Alicia Reese wrote in a note released Friday. AMC AMC, +0.23% also has an opportunity to drive revenue growth from its European circuit with theater upgrades that would boost per-screen averages, she added.

Underpinning AMC’s share gains, the analyst pointed to the success of concert films “Taylor Swift: The Eras Tour” and “Renaissance: A Film by Beyoncé.” $AMC Entertainment (AMC.US)$