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Mar 31, 2022
National CineMedia Q1 2022 Earnings Report
Reported strong revenue growth driven by increased advertising demand following box office success and upfront presentations.
Key Takeaways
National CineMedia reported a significant increase in revenue for Q1 2022, exceeding management's guidance. The company's operating loss improved, and they are encouraged by the increase in advertising demand.
Total revenue increased by 564.8% to $35.9 million compared to the same quarter last year.
Operating loss improved to $22.5 million from $28.3 million year-over-year.
Net loss was $25.2 million, or $0.31 per diluted share, compared to a net loss of $19.4 million, or $0.25 per diluted share, in the prior year.
Cash, cash equivalents and investments totaled $115.1 million as of March 31, 2022.
Revenue by Segment
Forward Guidance
The company expects to earn revenue of $63.0 to $70.0 million and Adjusted OIBDA of $12.5 million to $18.5 million for the second quarter of 2022.
Positive Outlook
- Company expects revenue of $63.0 to $70.0 million for the second quarter of 2022.
- Company expects Adjusted OIBDA of $12.5 million to $18.5 million for the second quarter of 2022.
- The movie slate for the remainder of 2022 looks strong due to the addition of major motion pictures that had been delayed in 2020 and 2021
- Reestablishment of exclusive release windows by most studios.
- NCMx, a state-of-the-art data management and analytics platform, was launched.
Challenges Ahead
- Continued uncertainties related to the COVID-19 pandemic over the near term.
- Impact of changes in consumer behavior on attendance following the reopening of the theaters.
- Network attendance remained below historical first quarter levels due primarily to an approximate 57% decrease in the number of films released versus the first quarter of 2019.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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