IMAX gains on 'The Odyssey' box office strength and 2026 growth outlook

According to CNBC, IMAX shares rose more than 8% on Thursday after the company said it remained on track to deliver a record $1.4 billion in global box office this year, helped by Universal's "The Odyssey." The film generated $52 million in global box office for IMAX over its opening weekend, with IMAX locations accounting for less than 1% of total screens but 20% of the movie's worldwide debut. IMAX CEO Rich Gelfond said on Thursday's earnings call that the film added another $11 million on Monday and $10.6 million on Tuesday, which he called the company's best Tuesday performance ever. The company also said it installed 38 IMAX systems globally in the second quarter, up from 36 a year earlier, and has a backlog of 421 contracts to build screens. Chief Financial Officer Natasha Fernandes said the second-quarter total was the highest in a decade and that IMAX is on pace for 160 to 175 installations by the end of 2026.