“Shazam: Fury of the Gods” is expected to take the box office crown from “Scream VI” when the superhero sequel opens in theaters over the weekend. But don’t expect Billy Batson and company to break any DC franchise records.

The “Shazam” sequel is aiming to collect a so-so $35 million to $40 million from 4,000 North American cinemas between Friday and Sunday, based on early estimates. Unless the Warner Bros. film seriously crushes expectations, inaugural ticket sales will fall significantly short of its pre-pandemic predecessor, 2019’s “Shazam.” The first film, which introduced the world to Zachary Levi’s comic book character who becomes a hero by saying the magic word “Shazam,” opened to $53.5 million and ended its box office run with $140 million domestically and $366 million globally.

Like the original, the sequel cost $100 million to produce. That’s a lot of money, of course, but it’s significantly less than recent DC installments...