- Lions Gate Entertainment (LGF) has tumbled 3.8% after hours, adding on to today's 5.6% loss, as its fiscal Q1 revenues fell well short of expectations on a smaller film slate, though profits beat cleanly.
- Revenues of $408.9M was short of a consensus $534.4M, but its filmed entertainment backlog rose to an all-time high of $1.3B, up from Q1's $1.1B.
- Adjusted EBITDA of $70.3M (down 20%) beat an expected $61.4M. The TV production business boosted profitability as licensing from international programming was up 73%.
- Revenue by segment: Motion Picture, $275.4M (down 17%); Television production, $133.6M (up 14%).
- In Motion Pictures, theatrical revenue was down to $23.1M (due to its distribution arrangement, LGF only booked a distribution fee for The Age of Adaline, its one wide release). International motion picture revenue was $84.8M, down from the prior year's $90.7M. Home entertainment revenue was $129.5M, down from the prior year's $140.9M (four titles vs. the prior year's five).
- Free cash flow was $94.7M for the quarter. LGF has "the strongest balance sheet in the company's history," says CEO Jon Feltheimer.
- Conference call to come tomorrow at 9 a.m. ET.
- Press release