National CineMedia Q1 2020 Earnings Report
Key Takeaways
National CineMedia, Inc. reported a decrease in revenue and operating income for the first quarter of 2020 due to the impact of the COVID-19 pandemic and the subsequent temporary closure of theaters. The company is focused on preserving cash and liquidity amid these challenges.
Total revenue decreased by 15.9% to $64.7 million compared to the same quarter last year.
Operating income decreased by 55.0% to $4.9 million.
Net loss was $3.7 million, or $0.05 per diluted share, compared to a net loss of $1.1 million, or $0.01 per diluted share, in the first quarter of 2019.
The company withdrew its full-year 2020 outlook due to the uncertainty surrounding the COVID-19 pandemic.
National CineMedia
National CineMedia
National CineMedia Revenue by Segment
Forward Guidance
Due to the current unprecedented market conditions related to the coronavirus (COVID-19) and the resulting uncertainty regarding the duration and ultimate impact of governmental regulations, including shelter-in-place orders and mandated business closures including our network theaters and clients, as well as the impact of changes in consumer behavior (such as social distancing) on attendance following the reopening of the theaters, the Company is withdrawing its previously published financial guidance related to revenue, Adjusted OIBDA and integration payments for the fiscal year ending December 31, 2020.