National Cinemedia up after strong forecast, share buyback plan

National CineMedia

19/03/2024 10:10

** National Cinemedia shares  NCMI.O  surge 24% to $5.22
premarket after upbeat Q1 rev forecast, share buyback plan
    ** Cinema advertising firm sees Q1 rev in range of $34.5 mln
and $35.5 mln, beating analyst expectations of $34 mln - LSEG
data
    ** Co's Q4 results also surpassed Street expectations - LSEG
data
    ** CEO Tom Lesinski says in Q4 NCIM saw a 43% increase in
active national advertisers and record revenue per attendee
    ** Co to also repurchase up to $100 mln shares through April
1, 2027
    ** NCMI's outstanding shares stand at 96.78 mln as of last
close
    ** In August 2023, co had emerged from bankruptcy after
filing for Chapter 11 protection in April 2023
    ** Up to last close, stock had risen 1.9% YTD 

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))