IMAX Corp. (IMAX) Reports In-Line Q1 EPS, Revenues Miss; 'Raises FY19 Box Office Guidance'

(Updated - April 26, 2019 7:56 AM EDT)

(Update corrects headline and consensus EPS to 18c)

IMAX Corp. (NYSE: IMAX) reported Q1 EPS of $0.18, in line the analyst estimate of $0.18. Revenue for the quarter came in at $80.2 million versus the consensus estimate of $81.12 million.

• IMAX raises full-year 2019 box office guidance following better-than-expected first quarter. Company currently anticipates IMAX global box office will see low-double digit percentage growth, compared to 2018.
• IMAX delivers second strongest box office quarter of all time in China, up 19% to $106 million.
• Avengers: Endgame delivers biggest IMAX open ever in China. In its first two days, including midnights, the film generated over $21 million of IMAX box office.
• Domestic IMAX pre-sales for Avengers: Endgame stand at $21 million, up 70% compared to Avengers: Infinity War.
• IMAX signed agreements for 23 systems last quarter, including 7 in Japan, where same-store sales were up 21%, compared to the first-quarter of 2018.

"IMAX empowers the world\'s most innovative content creators with unparalleled end-to-end technology and a global network spanning more than 80 countries," said IMAX CEO Richard L. Gelfond. "The benefit of those artistic partnerships and our global reach is evident in our better than expected first quarter results, particularly in China, where we outperformed the market and posted our second-best quarter ever. With a robust lineup of tentpole films ahead, like the highly anticipated Avengers: Endgame, which opens this weekend, we anticipate delivering our strongest box office year ever in 2019."

For earnings history and earnings-related data on IMAX Corp. (IMAX) click here.

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