IMAX beats Q2 expectations with earnings and revenue, shares up 5%

From Investing.com: 2024-07-25 08:41:51

IMAX Corporation (NYSE: NYSE:) posted impressive second-quarter results, with earnings and revenue exceeding expectations. Shares rose by 5.5% following the news. The company reported adjusted EPS of $0.18 and revenue of $89 million, boosted by system sales and the sale of “The Blue Angels” documentary. Cash from Operations surged to $35 million.

CEO Rich Gelfond highlighted IMAX’s strong post-pandemic position, with system installations up by 20% and a record number of signings. The company raised its full-year 2024 installation guidance to 130-150 systems, emphasizing network expansion in key regions like India and Southeast Asia. Investor concerns led to stock movement despite positive results.

IMAX’s diverse content portfolio and upcoming film slate, including 14 films shot with IMAX cameras in 2025, are expected to drive growth. The company reinforced exhibition partnerships, notably with Wanda Film in China, marking its largest agreement in five years. IMAX remains optimistic about leveraging its business model’s strengths post-pandemic.



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