2024-05-11 12:42:01 ET
Cineplex Inc. (CPXGF)
Q1 2024 Earnings Conference Call
May 9, 2024 10:00 ET
Company Participants
Mahsa Rejali - Investor Relations
Ellis Jacob - President and Chief Executive Officer
Gord Nelson - Chief Financial Officer
Conference Call Participants
Maher Yaghi - Scotiabank
Cheryl Zhang - TD Cowen
Drew McReynolds - RBC Capital Markets
Adam Shine - National Bank Financial
Presentation
Operator
Good morning. Thank you for attending today’s Cineplex Inc. First Quarter 2024 Earnings Call. My name is Jennifer and I will be your moderator today. [Operator Instructions] I would now like to pass the conference over to our host, Mahsa Rejali, VP of Corporate Development and Investor Relations. Mahsa, please proceed.
Mahsa Rejali
Good morning, everyone. I would like to welcome you to Cineplex’s first quarter 2024 earnings release conference call hosted by Ellis Jacob, President and Chief Executive Officer and Gord Nelson, Chief Financial Officer.
Before we begin, let me remind you that certain statements being made are forward-looking and subject to various risks and uncertainties. Such forward-looking statements are based on management’s beliefs and assumptions regarding information currently available. Actual results may differ materially from those expressed in the forward-looking statements. Information regarding factors that could cause results to vary, can be found in the company’s most recently filed Annual Information Form and Management’s Discussion and Analysis. Following today’s remarks, we will close the call with our customary question-and-answer period.
I will now turn the call over to Ellis Jacob.
Ellis Jacob
Good morning. Thank you, Mahsa and welcome to our Q1 2024 conference call. Today, Gord and I look forward to highlighting some of our key accomplishments this quarter. While the first quarter North American box office saw a decline of 5.2% versus 2023, Cineplex’s box office increased 1.4% to $125 million over the same period. Once again, we exceeded the domestic box office relative to Q1 2023 by a sizable 6.4% and outperformed our peers. We achieved record Q1 BPP of $12.74 and concession per patron of $8.95 surprising records we set in Q1 2023....
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Cineplex Inc. (CPXGF) Q1 2024 Earnings Call Transcript