The Memorial Day box office is experiencing a lackluster performance this year, with George Miller's "Furiosa: A Mad Max Saga" and "The Garfield Movie" opening to lower-than-expected numbers. Based on Friday's box office figures, both films are projected to gross between $31 million to $33 million over the four-day holiday weekend.

These projections mark the worst Memorial Day No. 1 opening since 1995 when "Casper" debuted with $22.5 million (not adjusted for inflation). It is important to note that these statistics exclude 2020 when theaters were closed due to the pandemic.

In the battle for the top spot, Warner Bros.' "Furiosa" is anticipated to edge out Sony and Alcon's "Garfield" movie, although the competition between the two is closer than anticipated. Both films received a B+ CinemaScore from audiences. "Furiosa" grossed $10.2 million on Friday from 3,804 theaters, while "Garfield" earned $8.4 million from 4,035 locations. The minimal gap between the two is surprising considering "Garfield" is a family film.

The overall box office revenue for the Memorial Day weekend is projected to reach around $125 million, which would be the lowest showing in two decades, excluding 2020 and 2021 due to the ongoing pandemic. In 2021, Paramount's "A Quiet Place" sequel managed to open with $57.1 million during the holiday weekend.

"Furiosa," a prequel to the "Mad Max" series featuring Anya Taylor-Joy as a younger version of Charlize Theron's character, was initially expected to open with $40 million to $45 million for the four-day holiday window. Unfortunately, it joins a growing list of summer event films that have underperformed during their releases, with the exception of "The Kingdom of the Planet of the Apes." The previous "Mad Max" film, "Fury Road," started with a three-day gross of $45.4 million.

In other news, Angel Studios' attempts to replicate the success of last summer's "Sound of Freedom" have fallen short so far. Their latest release, the faith-adjacent film "Sight," is projected to only gross $4 million from 2,100 theaters, placing it at seventh position.

Meanwhile, "IF" continues to hold the third spot in its second weekend, with an estimated four-day gross of $20.7 million from 4,068 locations. The family-oriented film experienced a 53% drop in its three-day gross, a respectable hold considering the competition it faces from "Garfield." This positive news comes as a relief for Paramount, director John Krasinski, and star Ryan Reynolds after a softer opening.

"The Kingdom of the Planet of the Apes" is expected to secure the fourth spot with an estimated four-day gross of $15.5 million to $16 million. The film is being distributed by 20th Century and Disney and is currently playing in 3,550 theaters.

Additionally, "The Fall Guy," starring Ryan Gosling and Emily Blunt, showcases a commendable performance as it experiences just a 32% drop in ticket sales despite being available for premium Video on Demand. It is expected to round out the top five with a four-day gross of $7.3 million from 2,955 locations.

The disappointing start to the summer season at the box office can be attributed to the delayed release of marquee titles due to last year's labor strikes. Marvel Studios, for instance, typically kicks off the summer with a superhero tentpole over the first weekend of May. However, their highly-anticipated film "Deadpool & Wolverine" had to be postponed by nearly three months to July 26 due to production halts caused by the SAG-AFTRA strike.

Correction: A previous version of this story incorrectly stated that it had been 40 years since a No. 1 Memorial Day movie opened with such low numbers. We apologize for the error.