National CineMedia (NASDAQ: NCMI) reported Q3 EPS of ($0.16), $0.01 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $6 million versus the consensus estimate of $9.98 million.

From the CEO

Commenting on the Company’s third quarter 2020 operating results and response to COVID-19, NCM CEO Tom Lesinski said, “We continue to be laser focused on effectively navigating the impact of the pandemic by preserving cash to ensure we maintain our strong liquidity position, while at the same time, actively working with brands in the 2021 upfront marketplace. While we cannot control the timing of movie releases or theater openings, we can and will continue to position our business to capture additional market share. There continues to be strong consumer demand for the unique out-of-home entertainment experience that only the big screen can provide, and that demand will drive NCM’s ability to deliver shareholder value as consumers return to the movie theaters across the nation.”

2020 Outlook

Due to the current unprecedented market conditions related to the COVID-19 pandemic and the resulting uncertainty regarding the duration and ultimate impact of governmental regulations, including mandated business closures and theater capacity restrictions that affect our network theaters and clients, shifting movie slates, as well as the impact of changes in consumer behavior (such as social distancing) on attendance following the reopening of the theaters, the Company is not providing updated guidance for the fiscal year ending December 31, 2020.

For earnings history and earnings-related data on National CineMedia (NCMI) click here.