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Dec 31, 2022
Lionsgate Q3 2023 Earnings Report
Reported a strong financial quarter with record trailing 12-month library revenues, affirming the value of their intellectual properties.
Key Takeaways
Lionsgate reported third quarter fiscal 2023 revenue of $1.0 billion, operating income of $7.8 million, and net income attributable to Lionsgate shareholders of $16.6 million or $0.07 diluted earnings per share. Adjusted net income attributable to Lionsgate shareholders in the quarter was $59.3 million or $0.26 adjusted diluted earnings per share, with adjusted OIBDA of $167.8 million.
Third Quarter Revenue was $1.0 Billion.
Operating Income was $7.8 Million.
Net Income Attributable to Lionsgate Shareholders was $16.6 Million or $0.07 Diluted Earnings Per Share.
Adjusted OIBDA was $167.8 Million
Lionsgate
Lionsgate
Lionsgate Revenue by Segment
Revenue by Segment
Motion Picture Revenue
CapyFin.comTelevision Production Revenue
CapyFin.comMedia Networks Revenue
CapyFin.com Forward Guidance
Lionsgate enters its fourth quarter with encouraging signs across all of its businesses.
Positive Outlook
- Rebounding domestic box office.
- Bringing biggest slate in years to theatres.
- Renewals of six key Lionsgate Television series during or immediately after the close of the quarter.
- Improved STARZ economics due to its international reorganization.
- Company purchased $124 million of its bonds for $82 million, a $42 million reduction in its net debt.
Challenges Ahead
- Total global subscribers decreased sequentially to 37.2 million, driven by linear and OTT pressures domestically.
- Excluding the international subscribers in the seven markets that LIONSGATE+ is exiting, total global subscribers were down sequentially to 28.7 million.
- Recognized an $80.8 million restructuring charge primarily associated with Domestic Media Networks’ decision to remove certain series from its service.
- The Company is in the process of executing its LIONSGATE+ restructuring plan including exiting the territories discussed above and its strategic review of content performance for consideration of removal from the Company's various platforms and estimates it will incur additional charges ranging from approximately $100 million to $125 million related to certain contractual content commitments or programming content impairment charges, among other items, as the Company fully implements the plan.
- As the Company continues to fully implement the plan, including further strategic review of content performance, the Company may incur additional content impairment charges beyond the estimates provided.
Revenue & Expenses
Visualization of income flow from segment revenue to net income