National CineMedia Q2 revenue rises, but misses estimates
National CineMedia Q2 revenue rises, but misses estimates
Overview
U.S. cinema advertising platform's fiscal Q2 revenue rose 12.7% yr/yr, missing analyst expectations
Adjusted OIBDA for fiscal Q2 improved to $2.1 mln from $0.7 mln yr/yr
Outlook
Company is not providing a forward outlook due to pending Captivate acquisition timing
National CineMedia has paused its quarterly dividend program amid the proposed Captivate acquisition
Result Drivers
BOX OFFICE MOMENTUM - Co said revenue growth was driven by continued strength in domestic box office attendance
OPERATIONAL TRANSFORMATION - Co said operational transformation delivered $2.7 mln in cost savings year-to-date and remains on track for $11.0 mln in annualized cost savings
LOCAL ADVERTISING GROWTH - Local and regional advertising revenue increased to $9.5 mln from $6.4 mln yr/yr
Company press release: ID:nBwR7G0Ya
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $58.40 mln | $59.95 mln (4 Analysts) |
Q2 Loss Per Share |
| $0.11 |
|
Q2 Operating Income |
| -$12.80 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advertising & marketing peer group is "buy"
Wall Street's median 12-month price target for National Cinemedia Inc is $5.00, about 26.6% above its August 10 closing price of $3.95
The stock recently traded at 136 times the next 12-month earnings vs. a P/E of 43 three months ago
Reuters Recommended Reads
Aug 11 - Canada's Cineplex Q2 revenue rises to record high driven by live FIFA World Cup screenings
Aug 11 - Ari Emanuel's MARI buys theater operator ATG Entertainment
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on National CineMedia
See all newsBrief: National Cinemedia, To Acquire Captivate For $275 Million
National Cinemedia Inc reports results for the quarter ended June 30 - Earnings Summary
National CineMedia Q2 revenue rises, but misses estimates
Brief: National CineMedia Q2 EPS USD -0.11
National Cinemedia Inc expected to post a loss of 8 cents a share - Earnings Preview