- Cineplex (TSX:CGX) reported C$291 million in revenue (+16 per cent), with box office revenue rising 25 per cent driven by strong film releases and higher attendance
- The company narrowed its net loss to C$22.4 million from C$35.1 million a year earlier, while adjusted earnings and EBITDA improved significantly
- Record per-patron spending and increased contribution from international films (13 per cent of box office) supported overall performance
- Cineplex stock (TSX:CGX) opened trading at C$10.81
Cineplex (TSX:CGX) posted improved financial results for the first quarter of 2026, as stronger box office performance and increased patron spending helped offset ongoing profitability challenges.
The Canadian cinema chain reported total revenues of C$291.0 million for the three months ended March 31, marking its highest first-quarter revenue since 2019 and a roughly 16 per cent increase from the prior year. While revenue growth fell slightly short of analyst expectations of about C$294.2 million, the company nonetheless delivered notable gains across several operating metrics.
Box office revenue rose 25 per cent year over year to C$127.4 million, driven by strong audience turnout and a broader film slate that included titles such as Project Hail Mary and Pixar’s Hoppers. Cineplex also reported that attendance increased by approximately 17 per cent, contributing to improved performance across its theatre operations.
Spending per customer reached record levels for a first quarter, with box office revenue per patron at $12.94 and concession spending per patron at $9.54. The company attributed these gains in part to higher-ticket premium formats and strong demand for a mix of blockbuster and original films.
International film content played a larger role in Cineplex’s results, accounting for 13 per cent of total box office revenue and delivering the highest first-quarter contribution from foreign-language films in the company’s history. Executives said the continued expansion of international offerings has helped diversify programming and attract broader audiences.
“First‑quarter Media results reflected lower demand for in‑theatre advertising, driven by the diversion of spend toward the 2026 Winter Olympics and a tougher year‑over‑year comparison following higher pharmaceutical advertising in the prior year,” the company’s president and CEO, Ellis Jacob, said in a news release. “Despite these near‑term factors, advertisers continue to value cinema as a premium platform for reaching highly engaged audiences.”
Despite the top-line growth, Cineplex remained unprofitable in the quarter. The company reported a net loss from continuing operations of C$22.4 million, an improvement from a loss of C$35.1 million a year earlier. On a per-share basis, the loss narrowed to C$0.36 compared with C$0.58 in the prior-year period.
Adjusted EBITDA showed further improvement, coming in at C$44.7 million, up from C$29.9 million last year, according to company disclosures and analyst summaries. On a comparable metric, Cineplex reported positive adjusted EBITDAaL of C$4.1 million, compared with negative C$10.7 million in the same quarter of 2025.
The company’s location-based entertainment division, which includes gaming and amusement venues, posted a store-level EBITDAaL margin of 25 per cent, in line with internal targets. However, Cineplex noted that its media segment faced some headwinds, as advertising demand softened due in part to spending shifts toward major events such as the 2026 Winter Olympics.
Cineplex also continued returning capital to shareholders, repurchasing more than 463,000 shares under its Normal Course Issuer Bid during the quarter.
Looking ahead, early second-quarter trends suggested continued momentum. The company said April box office revenue was up 17 per cent compared with the same period a year earlier, indicating sustained audience demand for theatrical releases.
Company executives pointed to a stronger and more consistent film slate as a key driver of recovery, emphasizing that a mix of major studio releases and international titles contributed to increased engagement.
Cineplex Inc. is a household Canadian brand active in the film entertainment and content, amusement and leisure and media sectors. It operates more than 169 movie theatres and entertainment venues across the country.
Cineplex stock (TSX:CGX) opened trading down nearly half a percentage point at C$10.81 and has risen 8 per cent since this time last year.
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