Earnings

Cinemark, which saw box office momentum buoy second quarter financials, said August and September will be tougher as new release volume dips. CEO Sean Gamble told Wall Street on a post-earnings call that the nation’s third largest exhibitor is optimistic on the business, but that the pace of an ongoing recovery depends on consumer sentiment
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In a sign that managing 4 million retail shareholders isn’t all fun and games, AMC Entertainment CEO Adam Aron said most advice het gets in voluminous social media correspondence is “well intended” but “some may be hurled at us with an intent of actually harming me or the company.” It’s the first time he’s publicly
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Big-screen pioneer Imax said Thursday that it recorded a net non-cash provision of $6.9 million, or $0.12 per share, due to an increase in reserves given the uncertainty of collecting receivables in Russia. With the Russia-Ukraine war ongoing, sanctions and boycotts underway include all major studios pulling releases from Russia. “This provision was taken in
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AMC Entertainment saw revenue jump to $763 million last quarter, beating Wall Street forecasts on a strong movie slate and accelerating theatrical recovery. Adjusted EPS losses of 44 cents a share shrank from a loss of $8.41 a year ago. Analysts had anticipated sales of $708 million with an EPS loss of 53 cents. As
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AMC CEO Adam Aron, who already has announced a push into retail popcorn sales and accepting payment in cryptocurrencies, waxed enthusiastic Monday at a flood of new ventures suggested by the chain’s 4.1 million retail investors. The floated ideas include everything from an AMC credit card and a return to movie producing to its own
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Imax sales surged last quarter as it delivered $142 million in global box office sales — up 100% year-over-year. It’s since broke records for the high-grossing month of October, with Dune being the latest hit Stateside, and said it expects an accelerating pipeline of blockbusters set for exclusive theatrical release to further build consumer momentum
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Despite Disney’s experimentation with releasing movies like Black Widow and Jungle Cruise day-and-date in theaters and in the home on the PVOD tier of their streaming service Disney+ Premier, Imax CEO Rich Gelfond doesn’t believe the model will be the new normal moving forward. “Every studio has seen the same data that Disney has seen. What Disney did
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AMC Entertainment CEO Adam Aron was nearly giddy Thursday, quoting Winston Churchill, trying to top him, talking up a box office recovery, the chain’s expanded market share, cash position and hiring plans and millions of new retail investors who have replaced China’s Wanda Group as its core shareholder base. Like an Oscar acceptance speech, he
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Cinemark, the nation’s third largest movie chain, said revenues for the first quarter ended in March fell to $114 million from $543 million the year before. Admissions revenues stood at $56 million and concession revenues $39 million. Attendance was 7.7 million, average ticket price was $7.25 and concession revenue per patron was $5.10. Shares were
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AMC Entertainment offered a preview of its quarterly earnings Tuesday, anticipating revenue for the three months ended in March of $148 million, way down from $941.5 million the year before as the box office struggled to revive amid the global pandemic. AMC expects to announce a net loss of between $572 million and $567 million.
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AT&T CEO John Stankey took a Godzilla vs. Kong victory lap Thursday as the film managed to storm the domestic box office and provide a solid boost for HBO Max. Subsidiary Warner Media’s strategy of releasing its 2021 slate day-and-date in movie theaters and on its new premium streaming service was highly controversial when announced
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Cineworld Group today reported its first-ever annual operating loss with the figure dropping over $2.98B in 2020 as compared to 2019. The previous year had seen profits of $724.7M while the period ended December 31, 2020 was at a negative $2,257.7M. The results were severely impacted by the Covid pandemic which forced the group to
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AMC Entertainment revenue plunged last quarter to $162 million from close to $1.5 billion the year before as the global pandemic squeezed exhibition. That beat expectations, coming about $20 million above Wall Street’s consensus estimates. The stock is up 3% in late trading. Net losses widened to $946 million, including a hefty one-time impairment charge,
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Dalian Wanda, which acquired AMC Entertainment in 2012, surrendered control of the struggling exhibitor as it issued and sold tranches of new stock to raise cash — diluting the stake of the Chinese conglomerate. CEO Adam Aron confirmed the Wanda era was over although the company continues to be AMC largest single largest shareholder. Wanda
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National CineMedia, operator of the nation’s largest cinema advertising network, saw sales plunge and it swung into the red last quarter as more than half of all theaters were shuttered. On a conference call, execs noted recent agreements to expand outside of cinemas and said the company will be announcing another, a big one, in
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Walt Disney blew past Wall Street estimates last quarter although it swung to red and revenue fell with Disneyland shuttered, and movie theaters in major markets dark. It’s the last showbiz giant to report financials in the latest earnings round and the most anticipated as its sprawling businesses touch most of media and entertainment for
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AMC Entertainment said revenue for the September quarter plunged 91% to $119 million. Losses widened to $905 million from $54 million as the financially strapped exhibitor struggles with the impact of the global pandemic. The financially struggling chain’s COVID trials have been high profile and heavy hitting because of its size — the biggest chain
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AMC CEO Adam Aron channeled Winston Churchill Monday, comparing the exhibition industry’s last stand against COVID-19 (and Chapter 11) to the U.K.’s fight for survival during World War II. Wall Street analysts on a conference call were too polite to bring up the word bankruptcy directly, nor did Aron. He said again that the chain
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The nation’s fourth-biggest cinema chain Marcus Theatres saw revenue plunge and swing to the red in its most recent third-quarter earnings released Tuesday. It beat Wall Street forecasts, however, and emphasized its solid financials underpinned by the fact it owns most of its theatres. Family-owned Marcus, based in Milwaukee, owns or operates 1,110 screens at
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Imax on Thursday reported third-quarter earnings for the period ended September 30. Revenues were $37.3 million versus $86.4M in the third quarter of 2019, largely impacted by the global COVID-19 pandemic. The result is, however, much better than Q2, which saw revenues of just $8.9M. In part that’s down to the resurgence of moviegoing in
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