We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Lionsgate (LGF.A) Q1 Earnings Top Estimates, Revenues Rise Y/Y
Read MoreHide Full Article
Lionsgate (LGF.A - Free Report) reported an adjusted loss of 4 cents per share for the first quarter of fiscal 2024, narrower than the Zacks Consensus Estimate of a loss of 24 cents. The company had incurred a loss of 23 cents in the year-ago quarter.
Revenues increased 1.6% year over year to $908.6 million and beat the consensus mark by 1.75%.
Lions Gate Entertainment Corp. Price, Consensus and EPS Surprise
Motion Picture (44.7% of revenues) revenues increased 45.8% year over year to $406.5 million. The segment generated a profit of $69.2 million, up 37% year over year. The figure beat the Zacks Consensus Estimate by 18.31%.
Television Production (24% of revenues) revenues decreased 49.5% year over year to $218.5 million. Segmental profit was $22.9 million, up 16.8% year over year. The figure missed the Zacks Consensus Estimate by 21.79%.
The Media Networks segment (41.9% of revenues) reported revenues of $381.1 million, which remained steady year over year. Segmental profit increased 186.2% to $31.9 million. The figure beat the Zacks Consensus Estimate by 0.9%.
Starz Networks’ revenues decreased 3.5% year over year to $337.4 million. The figure missed the Zacks Consensus Estimate by 3.41%.
LIONSGATE+ revenues in the quarter rose 38.3% year over year to $43.7 million. The figure beat the Zacks Consensus Estimate by 53.64%.
Total global subscribers, including STARZPLAY Arabia (a non-consolidated equity method investee), decreased sequentially to 29.4 million, primarily due to linear and over-the-top (OTT) pressures domestically. The figure missed the Zacks Consensus Estimate by 3.39%.
Total OTT subscribers increased 9% year over year to 19.9 million.
Operating Details
Lionsgate’s adjusted OIBDA increased 1,614% year over year to $85.7 million in the reported quarter.
Direct operating expenses, as a percentage of revenues, contracted 1,380 basis points (bps) to 53%.
Distribution and marketing expenses, as a percentage of revenues, expanded 320 bps to 26.9%.
Moreover, general & administrative expenses, as a percentage of revenues, expanded 200 bps year over year to 13.6%.
The company reported an operating loss of $16.8 million in the reported quarter, up 75.4% from the year-ago quarter.
Balance Sheet & Cash Flow
As of Jun 30, 2023, Lionsgate had cash and cash equivalents of $272.1 million compared with $272.1 million as of Mar 31, 2023.
Net cash flow provided by operating activities was $29.2 million at the end of the fiscal first quarter compared with $13.6 million of cash flow used at the end of the previous quarter.
Adjusted free cash flow was $34.8 million against a free cash flow of negative $36.7 million in the previous quarter.
Zacks Rank & Stocks to Consider
Lionsgate currently carries a Zacks Rank #3 (Hold).
Image: Bigstock
Lionsgate (LGF.A) Q1 Earnings Top Estimates, Revenues Rise Y/Y
Lionsgate (LGF.A - Free Report) reported an adjusted loss of 4 cents per share for the first quarter of fiscal 2024, narrower than the Zacks Consensus Estimate of a loss of 24 cents. The company had incurred a loss of 23 cents in the year-ago quarter.
Revenues increased 1.6% year over year to $908.6 million and beat the consensus mark by 1.75%.
Lions Gate Entertainment Corp. Price, Consensus and EPS Surprise
Lions Gate Entertainment Corp. price-consensus-eps-surprise-chart | Lions Gate Entertainment Corp. Quote
Segmental Details
Motion Picture (44.7% of revenues) revenues increased 45.8% year over year to $406.5 million. The segment generated a profit of $69.2 million, up 37% year over year. The figure beat the Zacks Consensus Estimate by 18.31%.
Television Production (24% of revenues) revenues decreased 49.5% year over year to $218.5 million. Segmental profit was $22.9 million, up 16.8% year over year. The figure missed the Zacks Consensus Estimate by 21.79%.
The Media Networks segment (41.9% of revenues) reported revenues of $381.1 million, which remained steady year over year. Segmental profit increased 186.2% to $31.9 million. The figure beat the Zacks Consensus Estimate by 0.9%.
Starz Networks’ revenues decreased 3.5% year over year to $337.4 million. The figure missed the Zacks Consensus Estimate by 3.41%.
LIONSGATE+ revenues in the quarter rose 38.3% year over year to $43.7 million. The figure beat the Zacks Consensus Estimate by 53.64%.
Total global subscribers, including STARZPLAY Arabia (a non-consolidated equity method investee), decreased sequentially to 29.4 million, primarily due to linear and over-the-top (OTT) pressures domestically. The figure missed the Zacks Consensus Estimate by 3.39%.
Total OTT subscribers increased 9% year over year to 19.9 million.
Operating Details
Lionsgate’s adjusted OIBDA increased 1,614% year over year to $85.7 million in the reported quarter.
Direct operating expenses, as a percentage of revenues, contracted 1,380 basis points (bps) to 53%.
Distribution and marketing expenses, as a percentage of revenues, expanded 320 bps to 26.9%.
Moreover, general & administrative expenses, as a percentage of revenues, expanded 200 bps year over year to 13.6%.
The company reported an operating loss of $16.8 million in the reported quarter, up 75.4% from the year-ago quarter.
Balance Sheet & Cash Flow
As of Jun 30, 2023, Lionsgate had cash and cash equivalents of $272.1 million compared with $272.1 million as of Mar 31, 2023.
Net cash flow provided by operating activities was $29.2 million at the end of the fiscal first quarter compared with $13.6 million of cash flow used at the end of the previous quarter.
Adjusted free cash flow was $34.8 million against a free cash flow of negative $36.7 million in the previous quarter.
Zacks Rank & Stocks to Consider
Lionsgate currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Consumer Discretionary sector are DouYu International (DOYU - Free Report) , On Holding (ONON - Free Report) and LiveOne (LVO - Free Report) . DouYu and On Holding sport a Zacks Rank #1 (Strong Buy), and LiveOne carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
DouYu, On Holding and LiveOne are scheduled to report quarterly results on Aug 14, Aug 15 and Aug 10, respectively.
The consensus mark for DOYU’s second-quarter 2023 earnings is pegged at 2 cents per share, up by 4 cents over the past 30 days.
The Zacks Consensus Estimate for ONON’s second-quarter 2023 earnings is pegged at 13 cents per share, up by a cent over the past 30 days.
The Zacks Consensus Estimate for LVO’s second-quarter 2023 loss per share is pegged at 2 cents, which remained unchanged over the past 30 days.