Shares of AMC Entertainment Holdings Inc. were trading at record lows on Wednesday, after the company said it expects second-quarter earnings will be worse than previously expected.

The cinema chain’s stock fell as much as 27% from Tuesday’s close, trading at its lowest level since going public in 2013.

AMC AMC, -0.87% said on Tuesday that not only would the company swing to a loss in the quarter, but that it would be wider than analysts surveyed by FactSet were expecting. AMC forecasts a loss of between $178.5 million and $174.5 million, while the FactSet consensus was for a loss of $8.0 million.

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Shares of other cinema chain stocks spiraled downward intraday on Wednesday in sympathy with AMC. Shares of Imax Corp. IMAX, +0.60% fell as much as 12%, while Cinemark Holdings Inc. CNK, -3.25% fell 7%, Regal Entertainment Group US:RGC fell nearly 6% and Marcus Corp. MCS, +9.56% dropped more than 2%.

Analysts have, for the most part, stayed positive on the film exhibitor group, as box office revenues have suffered so far this year. While investors clearly don’t like the news, analysts believe that this too will pass.

So far in the year, box office revenue is down 2% compared with the same point last year.

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“[Our] fundamental view is unchanged, but the stock is likely in the penalty box,” RBC analyst Leo Kulp wrote in a note to investors. “The news does not change our fundamental view given our already low expectations around the second quarter. With higher costs and a weaker third-quarter box office outlook now baked in as well as a positive outlook on the 2018 box office, we believe we could be near a bottoming out.”

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AMC said it was planning some cost reductions, mainly in its domestic business. Declining domestic box office trends and the threat from digital disruption and shrinking theatrical release windows have all put pressure on the sector.

The company is working on a revenue enhancement plan that it hopes will better align operating costs with attendance.

Imax took a similar approach, cutting 14% of its workforce in June to help eliminate risks from box office volatility.

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Analysts believe AMC’s cost-cutting and revenue enhancements, which began in July, should help company earnings in the second half of 2017.