RealD Inc.NYSE
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  • Mon, Aug. 29, 11:42 AM
    • The U.S. box office is up 5.5% to $7.9328B after the first eight months of the year, according to tallying from Box Office Mojo.
    • Higher ticket prices account for some of the gain.
    • Despite a solid summer in terms of movie theater attendance, studios may have left something on the table as they suffered from "sequelitis virus," according to an insider look from The Hollywood Reporter.
    • SA contributor L&F Capital Management pointed out last week that Disney's box office dominance (Finding Dory, Captain America: Civil War, The Jungle Book) this year bodes well for Netflix (NFLX +0.7%) which has exclusive streaming rights for the movies geared at children.
    • Related stocks: CKEC, AMC, CNK, RLD, IMAX, RDI, MCS, NCMI.
    | Mon, Aug. 29, 11:42 AM | 3 Comments
  • Fri, Jul. 8, 10:32 AM
    • The U.S box office is only up 1.3% through the 4th of July weekend compared to last year, according to an updated tabulation from BoxOfficeMojo.
    • Drexel Hamilton says its the filler movies scheduled between blockbusters that are to blame for the sub-2% growth. The investment firm points to Sony's (NYSE:SNE) Money Monster as an example of the trend. The film was set up as a blockbuster gap filler (Julia Roberts, George Clooney, and Jodie Foster as director), but has only brought in $41M to date.
    • What to watch: The exhibitor industry is desperate to hold on to the dinner-and-a-movie date concept with more data out suggesting that younger generations are skipping out on the latter half of the equation. Ticket pricing (+2% Y/Y) and concessions revenue per patron have been solid, but growing traffic steadily has been a challenge.
    • Related stocks: CKEC, AMC, CNK, RLD, IMAX, RDI, MCS, NCMI.
    | Fri, Jul. 8, 10:32 AM | 1 Comment
  • Sun, May 22, 6:09 PM
    • The U.S. box office continues to stay ahead of last year's pace after Angry Birds and Captain America: Civil War performed well over their opening weekend. Both films were comfortably over $30M level (domestic) for the weekend.
    • Next week could be even stronger with X-Men: Apocalyse set to debut. The superhero mashup has already earned more than $100M in the 75 global markets where it has opened (ranking #1 in 71 markets).
    • The U.S. box office YTD tally of $4.229B through May 22 is up 5.6% from the level of last year and 11.7% higher than the running total in 2014 through the same weekend.
    • Looking ahead, exhibitors hope to cash in even more on theater and format upgrades after reporting strong concessions revenue growth in Q1 (AMC was a leader with a 21% Y/Y jump or +6% per patron). Movie ticket prices have also trickled higher, averaging $8.58 this year sector-wide.
    • Looking even further ahead, despite some dabbling with a shortened release window and Netflix (NASDAQ:NFLX) introducing some movies on the big screen, the industry has stayed relatively consolidated in preventing a major disruption to its model such as the The Screening Room (see prior coverage) aims to unveil.
    • Related stocks: CKEC, AMC, CNK, RLD, IMAX, RDI, MCS, NCMI.
    | Sun, May 22, 6:09 PM | 2 Comments
  • Wed, Feb. 24, 3:41 PM
    • RealD (NYSE:RLD) says shareholders have approved the company's merger with an affiliate of Rizvi Traverse Management.
    • The merger is expected to close before March 23.
    • RealD trades below the $11 deal price at $10.79 on last check.
    | Wed, Feb. 24, 3:41 PM | 5 Comments
  • Mon, Feb. 1, 4:27 PM
    • RealD (NYSE:RLD): Q4 EPS of -$0.08 may not be comparable to consensus of $0.17.
    • Revenue of $50.37M (+54.7% Y/Y) misses by $4.86M.
    | Mon, Feb. 1, 4:27 PM
  • Mon, Feb. 1, 4:10 PM
    • RealD (NYSE:RLD) reports license revenue rose 42% Y/Y to $29.43M in FQ3.
    • Product/other revenue was up to $20.63M.
    • Total operating expenses increased +19% Y/Y to $25.67M.
    • Nine 3D films were released in the quarter this year, compared to five a year ago.
    | Mon, Feb. 1, 4:10 PM | 1 Comment
  • Mon, Feb. 1, 8:26 AM
    • Starboard Value trimmed its position in RealD (NYSE:RLD) late last week to 2.55M shares or about 5% of the company.
    • The hedge fund sold off shares between December 11 and January 26.
    • Starboard tried to buy RealD back in 2014 for $600M.
    • RLD closed at $10.39 on Friday vs. a 52-week trading range of $8.66 to $13.53.
    | Mon, Feb. 1, 8:26 AM
  • Dec. 19, 2015, 11:08 AM
    | Dec. 19, 2015, 11:08 AM | 92 Comments
  • Dec. 18, 2015, 8:33 AM
    • Star Wars: The Force Awakens hits theaters with a vengeance this weekend  amid sky-high expectations for exhibitors. Though theater chains take a lower cut from blockbusters, and Disney films in general, concession and admission revenue for December is still expected to pop. A few numbers to watch are listed below.
    • The largest domestic December opening weekend ever was The Hobbitt: An Unexpected Journey at $37.13M which should fall easily, Star Wars could top the all-time U.S. opening weekend record set by Jurassic World of $208M.
    • The highest per theater average for an opening ever was Jurassic World at $48,555. A high mix of premium ticket sales for Star Wars could help that record fall by the wayside.
    • On the all-time global box office list, Star Wars is expected to rank somewhere behind the $3.554B haul of Titanic and Avatar's $2.932B. As long as Star Wars clears $2B, the exhibitor sector should meet expectations. That could be welcome relief for major names AMC Entertainment, Cinemark, Regal Entertainment, and Carmike Cinemas which all trail the YTD return of the S&P 500 Index.
    • YTD box office revenue in the U.S. is up 4.0% to $10.075B through December 16. Star Wars has two weeks to take that mark considerably higher.
    • Related stocks: CKEC, AMC, CNK, RLD, IMAX, RDI, MCS, NCMI.
    | Dec. 18, 2015, 8:33 AM | 24 Comments
  • Nov. 9, 2015, 2:38 PM
    • RealD (NYSE:RLD) trades up 2.27% to $10.81 after agreeing to a go-private deal with PE-firm Rizvi Traverse Management at $11 per share.
    • The company is already the target of some criticisms after rejecting a $12 offer last year from Starboard Value.
    | Nov. 9, 2015, 2:38 PM | 3 Comments
  • Nov. 9, 2015, 9:12 AM
    • RealD (NYSE:RLD) estimates that RealD screens generated $230M in October.
    • The monthly tally was split between $121M domestic and $109M international.
    • SEC Form 8-K
    | Nov. 9, 2015, 9:12 AM | 1 Comment
  • Nov. 9, 2015, 9:05 AM
    • RealD (NYSE:RLD): FQ2 EPS of -$0.15 misses by $0.06.
    • Revenue of $38.45M (-19.5% Y/Y) beats by $0.98M.
    | Nov. 9, 2015, 9:05 AM | 3 Comments
  • Nov. 8, 2015, 5:35 PM
  • Oct. 28, 2015, 1:10 PM
    • The rally is on for exhibitor stocks today after Regal Entertainment (RGC +5.8%) reported strong earnings last night.
    • The 10% gain in concessions per patron was an eye-catcher from the Regal report, as well as management's favorable read on Q4 traffic.
    • Gainers include AMC Entertainment (AMC +5.6%), Cinemark Holdings (CNK +3%), Carmike Cinemas (CKEC +3%), Marcus Corp (MCS +2.8%), and Reading International (RDI +1.3%). Sector cousins RealD (RLD +4.9%) and IMAX (IMAX +1.7%) are also higher.
    • Also of note is the Chinese M&A-fueled rally going on in the broad leisure and lodging sectors. Movie chains have long been considered potential targets of China-based media companies.
    • Previously: Lodging and leisure names perk up (Oct. 28 2015)
    | Oct. 28, 2015, 1:10 PM | 3 Comments
  • Oct. 20, 2015, 1:33 PM
    • Huge demand for advance tickets to Star Wars: The Force Awakens crashed the websites of several sellers last night, including AMC Theatres (NYSE:AMC) and Fandango.
    • It's a positive sign for an exhibitor sector looking for a strong Q4. The U.S. box office is already ahead of last year's pace with the Star Wars event in December still to come.
    • The buzz last night was created after the official Star Wars trailer was unveiled (see on YouTube). In less than 15 hours, the preview has generated almost 13M views.
    • Previously: Disney bringing Force to ESPN with MNF 'Star Wars' trailer, ticket presale (Oct. 19)
    • Related stocks: CKEC, RGC, RLD, RDI, CNK, IMAX.
    | Oct. 20, 2015, 1:33 PM
  • Oct. 7, 2015, 2:02 PM
    | Oct. 7, 2015, 2:02 PM | 1 Comment