National CineMedia Q2 revenue rises, but misses estimates
NCMI•Result drivers
- Box office momentum - Co said revenue growth was driven by continued strength in domestic box office attendance
- Operational transformation - Co said operational transformation delivered $2.7 mln in cost savings year-to-date and remains on track for $11.0 mln in annualized cost savings
- Local advertising growth - Local and regional advertising revenue increased to $9.5 mln from $6.4 mln yr/yr
Outlook and dividend pause
- Company is not providing a forward outlook due to pending Captivate acquisition timing
- National CineMedia has paused its quarterly dividend program amid the proposed Captivate acquisition
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $58.40 mln | $59.95 mln (4 Analysts) |
| Q2 Loss Per Share | $0.11 | ||
| Q2 Operating Income | -$12.80 mln |
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the advertising & marketing peer group is "buy"
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