AMC Expects Positive 2026 Free Cash Flow, Keeps Capex Range Unchanged

AMC Entertainment Holdings, Inc. expects to finish 2026 with positive free cash flow after generating $124.7 million through September, while keeping its capital-spending estimate at approximately $200 million to $235 million.

Chairman and CEO Adam Aron said the company’s results gave it confidence in reaching that full-year milestone. “This gives us confidence to expect that AMC will achieve the much-welcomed milestone of positive annual Free Cash Flow for the full year 2026.” AMC did not provide a dollar target for full-year free cash flow.

AMC’s free cash flow for the first nine months of 2026 was $124.7 million, compared with negative $409.2 million in the same period of 2025. For the third quarter, the company recorded $109.3 million, versus negative $81.1 million a year earlier.

For the nine months ended Sept. 30, AMC had $283.5 million in net cash from operating activities and $158.8 million in capital expenditures. Third-quarter revenue was $1.7111 billion, and adjusted EBITDA was $347.5 million. Cash and cash equivalents stood at $751.9 million at quarter-end, excluding $39.6 million in restricted cash.

AMC’s estimated capital expenditures for 2026 remain approximately $200 million to $235 million after lease incentives. The range is unchanged from the company’s Q2 estimate and covers the year ending Dec. 31, 2026.

AMC said its estimates depend on assumptions about revenue, costs, attendance and film releases, which may not prove accurate. The company also noted that studio release timing and the performance of individual films are difficult to predict.