- Cineplex (TSX: CGX) earned C$45 million in box office revenue in September, up by 16.5% year-over-year, marking the best showing for the month in company history.
- Cineplex is the largest movie theatre company in Canada with 169 locations across the country.
- The movie theatre stock last traded at C$12.48, adding 9.86% year-over-year, while giving back 13.03% since 2021.
Cineplex (TSX: CGX) earned C$45 million in box office revenue in September, up by 16.5% year-over-year, marking the best showing for the month in company history.
September ends a record third quarter for Cineplex, during which it took in C$215.6 million in box office revenue, up by 35% year-over-year, also representing the highest quarterly total in company history.
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Third-quarter revenue per box office patron surpassed C$14 thanks to growth in premium formats, which accounted for more than 50% of box office revenue, with both figures setting additional records for the company. Theatre food service revenue for the quarter also reached a new historical high.
According to Tuesday’s news release, Cineplex chalks up the results to “a powerful film slate, strong consumer demand for theatrical entertainment and guests’ continued preference for Cineplex’s premium movie-going experiences.”
Value-driving films for Q3 include Spider-Man: Brand New Day, now the highest-grossing Canadian release of all time, The Odyssey, now the highest-grossing premium-format film in Cineplex history, as well as Resident Evil, notching the largest opening weekend and becoming the highest-grossing installment in the horror franchise.
The news follows record-setting numbers for August and a profitable Q2, with the company taking in C$98 million and C$176.2 million in ticket sales, respectively.
Leadership commentary
“The consistency of our performance over the past several quarters, including a record-setting third quarter, reflect the appeal of the theatrical experience and Cineplex’s ability to deliver the immersive environment consumers are increasingly seeking,” Bill Walker, Chief Executive Officer of Cineplex, said in a statement. “Consumers continue to respond to a broad range of films and show a willingness to spend their out-of-home entertainment dollars in a movie theatre, particularly when paired with premium experiences. With a highly anticipated film slate for the remainder of the year, supported by outstanding advance ticket sales for Avengers: Doomsday and Dune: Part Three, we have tremendous confidence in the strength of the theatrical pipeline and the opportunities ahead.”
About Cineplex
Cineplex is the largest movie theatre company in Canada with 169 locations across the country. The company also operates gaming, restaurant, cinema media, alternative programming and movie distribution brands as part of its diversified offering.
Cineplex stock (TSX: CGX) last traded at C$12.48, adding 9.86% year-over-year, while giving back 13.03% since 2021.
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