Regal Entertainment Beats 3Q Estimations With Record Attendance And Price Cuts

The exhibition company’s per share earnings of 16 cents narrowly beat the 15 cents that experts expected. However the 3Q revenues of $743.6M, up 6.8% in the period this past year, were well in front of the $729.2M forecast. Net gain arrived at $25M, lower from $42.6M this past year — but that incorporated a $31.4M one-time gain in the purchase of stock in National CineMedia. “We are content that industry attendance growth coupled with our ongoing concentrate on cost control permitted us to attain significant development in both Modified EBITDA and Modified EBITDA margin for that second consecutive quarter,”CEO Amy Miles stated. She added that the organization is “encouraged through the record summer time box office and remain(s) positive concerning the approaching holiday film slate.” Additionally towards the earnings news, Regaldeclared a cash dividend of 21 cents a share that it'll pay onDecember 16 to stockholders of record on December 7. Regal states it “intends to pay for a normal quarterly dividend for that expected future.”