CPXGF - Cineplex stock dips as EBITDA misses despite best quarter of pandemic

Cineplex stock (OTCPK:CPXGF) is down 2% in Toronto after the movie-theater chain posted fourth-quarter earnings featuring its strongest quarter in two years, but a miss on expected EBITDA. Revenues jumped 472% year-over-year to C$300 million, as moviegoers were able to return to theaters in droves: Attendance at Cineplex venues jumped to 10.2 million from a prior-year 0.8 million. The company still posted a loss though it was substantially lighter. Operating and net loss was C$21.8 million, vs. a year-ago loss of C$230.4 million. It swung to an EBITDA gain of C$58.3 million, though that was light of even low-end analyst estimates that averaged C$77.9 million. And while moviegoers are coming back to the theater, the company noted it was hurt by government restrictions. "Based on the positive momentum we saw during the quarter, and the success of blockbuster films like Spider-Man: No Way Home, we know that guests are coming

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Cineplex stock dips as EBITDA misses despite best quarter of pandemic