Horror hit IT returns to theaters ahead of HBO series premiere

NEW YORK - Stephen King’s horror classic "IT" will return to select theaters globally for a special one-night screening on Wednesday, September 24, at AMC Entertainment (AMC) locations, ahead of the HBO Original series "IT: Welcome to Derry" premiere on October 26. According to InvestingPro data, AMC currently operates with revenue of $4.9 billion over the last twelve months, though the company faces significant operational challenges.

The film will be shown exclusively at Dolby Cinema at AMC screens across the United States and at Dolby Cinema and Dolby Atmos-enabled screens internationally, according to a press release from Warner Bros. Pictures.

Audiences attending the screenings will receive an exclusive behind-the-scenes look at the making of the upcoming HBO series, which is set in 1962. The preview will feature sneak peek footage and insights from cast members Jovan Adepo, Taylour Paige, Chris Chalk, and Rudy Mancuso, as well as executive producers Andy and Barbara Muschietti, Jason Fuchs, and Brad Caleb Kane.

"IT was a groundbreaking global phenomenon that brought Stephen King’s seminal novel to the big screen for the first time, and audiences embraced it to the tune of more than $700 million," said Jeff Goldstein, President of Global Distribution at Warner Bros. Pictures. For AMC, such blockbuster screenings are crucial, as InvestingPro analysis reveals the company’s challenging financial position, with a significant debt burden and rapid cash burn rate. InvestingPro subscribers can access 13 additional key insights about AMC’s financial health and future prospects.

The 2017 film, directed by Andy Muschietti, tells the story of seven young outcasts in Derry, Maine, who face their fears while battling an ancient shapeshifting entity that emerges every 27 years to prey on children.

The upcoming HBO series "IT: Welcome to Derry" expands on the universe established in King’s novel and the subsequent films. The eight-episode season will debut on Sunday, October 26, with new episodes airing weekly until December 14.

Bill Skarsgård, who portrayed Pennywise in the films, returns as an executive producer for the series alongside Andy and Barbara Muschietti. Andy Muschietti will direct multiple episodes of the show. Despite recent market challenges, with AMC’s stock down about 30% year-to-date, special events like this screening represent important revenue opportunities for the theater chain. Detailed analysis of AMC’s performance metrics and future outlook is available through InvestingPro’s comprehensive research reports.

In other recent news, AMC Entertainment reported second-quarter revenue of $1.4 billion, surpassing forecasts of $1.31 billion. This represents a 36% increase year-over-year. The company’s earnings per share were in line with expectations at zero. Additionally, AMC’s EBITDA reached $189 million, marking a 544% increase from the previous year. These results exceeded consensus estimates by 4% for revenue and 26% for EBITDA, showcasing strong operating leverage. Macquarie has maintained its Neutral rating on AMC with a $3.00 price target after the earnings report. This indicates a cautious stance despite the strong performance. These developments reflect significant investor interest and optimism surrounding AMC’s recent financial results.

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