National CineMedia Q3 2023 Earnings Report
Key Takeaways
National CineMedia, Inc. reported a mixed third quarter for 2023. While NCM LLC saw a 27.7% increase in total operating revenue, NCM, Inc. experienced a 54.7% decrease in total revenue, largely due to the deconsolidation of NCM LLC during part of the quarter. NCM, Inc. reported net income of $181.8 million, driven by gains on remeasurement and reconsolidation of NCM LLC.
NCM LLC's total operating revenue increased by 27.7% year-over-year.
National advertising revenue for NCM LLC increased by 31.0% compared to the same quarter last year.
NCM, Inc. reported a net income of $181.8 million, primarily due to gains from NCM LLC's remeasurement and reconsolidation.
NCM LLC successfully completed its financial restructuring, eliminating $1.2 billion of debt.
National CineMedia
National CineMedia
Forward Guidance
NCM LLC expects total revenue between $85.0 million and $88.0 million and adjusted OIBDA between $30.0 million and $33.0 million for the fourth quarter of 2023.