National CineMedia Q3 revenue misses analyst estimates on cinema advertising decline
NCMI•National CineMedia’s Q3 revenue fell 3.2% year over year to $61.4 million, below the $71.66 million analyst estimate, as cinema advertising declined. The company expects Q4 2026 revenue of $117 million to $124 million and Adjusted OIBDA of $42 million to $48 million.
1. Quarterly results
National CineMedia reported Q3 revenue of $61.4 million, down 3.2% year over year and below the $71.66 million consensus estimate. The company posted a net loss of $17.2 million and an operating loss of $21.6 million; its loss per share was $0.18.
2. Outlook and acquisition
The company expects Q4 2026 revenue of $117 million to $124 million and Adjusted OIBDA of $42 million to $48 million. It said lower cinema advertising revenue contributed to the decline, while higher theater exhibition fees and administrative costs contributed to a wider operating loss. National CineMedia completed its acquisition of Captivate, expanding its digital screen network.
