Imax Q4 Revenue Dips On Strike-Related Slate Shifts; CEO Touts Strong Full-Year 2023 At North American Box Office, Growing Global Footprint
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deadline.comImax saw sales dip in the fourth quarter to $86 million from $98 million, in line with Wall Street forecasts, as the company focused on the full year and its accelerated global expansion.
The stock in up in after-market trading. Adjusted ebitda (earnings before interest, taxes, depreciation and amortization)was $23 million (also down from the year ago), and EPS was flat at 5 cents a share, also in line.
The fourth quarter was hit by big ticket films moving out of 2023. Oppenheimer, which came out over the summer — in Q2 – was a big boost.
Full-year 2023 revenue jumped 25% to $375 million. “As the entertainment landscape transforms, it is clear that IMAX is among its premier, in-demand destinations,” said CEO Rich Gelfond.
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