A Great Quarter for Lionsgate (Finally)

 

It’s been choppy waters for Lionsgate since its split from Starz and the expenses that come with such a move. However, they’re back in quarterly profit according to their latest financials, as Brandon Blake, Entertainment Lawyer Los Angeles at Blake & Wang P.A. breaks down. 

                                                                      Brandon Blake


Quarterly Profit


With both The Housemaid and Michael to bulk up its finances, it’s not that surprising that this would be its best quarter since the split. They’re also back in the black for what is the fourth quarter of their financial year, taking $70.2M (as opposed to last year’s loss of $117.4M).

Overall revenue hit the $906.5M mark ($865.6B last year), if the $206.2M in intersegment elimination of the Starz split is considered. Lionsgate, however, no longer reports on media networks revenue. 


                                                                 Blake & Wang Law Firm


Beating Wall Street Expectations


Wall Street analysts were anticipating just $810.4M. They also beat the Street-set OIBDA expectation of $153.4M, instead bringing in $165.4M. Adjusted earnings per share worked out at 37c, a marked improvement on last year’s 14c and the expected 23c both. 


For the quarter, the studios' business saw a rise in motion picture revenue, hitting $652M (vs. the prior year’s $528.5M). The Housemaid, which became a sleeper hit, played a major role in this improvement, bringing home $400M at the global box office, and there’s now a sequel in the works. Now You See Me: Now You Don’t also played a strong role. And the revenue impact of Michael will only show its face in the next quarter. Lionsgate has also close to doubled its episodic deliveries for the next year, so this should continue strongly for them. And let’s not forget that their library is now responsible for billion-dollar revenues. 


All in all, it’s finally looking up for a studio that’s become near-iconic in the indie industry, and this success looks set to continue for the year ahead, too. 







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