IMAX Corp. (NYSE: IMAX) reported Q3 EPS of ($0.75), $0.43 worse than the analyst estimate of ($0.32). Revenue for the quarter came in at $37.3 million versus the consensus estimate of $28.44 million.

"As the only global theatrical platform for blockbuster entertainment, our experience around the world has proven that audiences will enthusiastically return to the movies where theaters are open and they feel safe. As they do return, they are coming back to IMAX — underscoring the enduring strength of our brand and the power of The IMAX Experience®," said IMAX CEO, Richard L. Gelfond.

"With continued box office revenues from our strong local language slate and revenues from theater installations, the Company estimates our average monthly cash flow will be approximately break-even through the first quarter of 2021."

"Our multi-year strategic effort to geographically diversify our business is paying off, as our strong local language slate continues to partially offset the lack of Hollywood releases in the market. From the year's number-one global box office release in China, "The Eight Hundred" — the first commercial Asian film shot entirely with IMAX cameras — to Japan's record-breaking "Demon Slayer", we believe that IMAX is poised to benefit from the impressive resurgence of the Asian film market. IMAX has no fewer than 10 local language releases in the fourth quarter of 2020, with the promising Chinese New Year box office period on its heels in February."

"IMAX remains well-positioned to manage through the continued recovery of the global film industry as cinemas await the return of Hollywood tentpoles. We have a significant financial runway with $305 million of cash on our balance sheet at the end of the third quarter."

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