AMC Entertainment (NYSE:AMC) CEO Adam Aron has continued to defend the company’s financial health in public statements. Aron attended CinemaCon, an annual gathering of exhibitors and Hollywood studios in Las Vegas. Asked whether AMC had considered a restructuring, Aron unequivocally answered in the negative. Indeed, AMC has more reason for optimism in the beginning of 2024 as cinemas have delivered a strong start.
A promising slate of new films have contributed to this performance. Godzilla x Kong: The New Empire claimed the top spot at the box office in its debut weekend. The monster movie roared once again in its second weekend, reigning supreme with the top spot and $31.2 million for its domestic gross. It has now generated a domestic box office gross of $136 million and a worldwide gross of $362 million.
Monkey Man debuted over the first full April weekend with solid results. The Dev Patel-led action thriller managed to pull in $10.1 million for its weekend gross. Meanwhile, Ghostbusters: Frozen Empire took the third spot with $9.00 million in gross ticket sales. The First Omen also made its debut over the first full April weekend, generating gross box office sales of $8.35 million while Kung Fu Panda 4 maintained solid momentum with a weekend gross of $7.77 million.
Investors should be watching the box office and AMC closely as anticipated movies like Abigail, Challengers, Civil War, and Furiosa to wrap up the months of April and May 2024.
