Premium cinema technology company IMAX (NYSE: IMAX) will be reporting earnings this Thursday morning. Here’s what to expect.
IMAX beat analysts’ revenue expectations last quarter, reporting revenues of $102.8 million, up 12.2% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates.
Is IMAX a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting IMAX’s revenue to grow 53.1% year on year, improving from the 16.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. IMAX has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at IMAX’s peers in the media & entertainment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Ibotta delivered year-on-year revenue growth of 17.5%, beating analysts’ expectations by 10.3%, and MediaAlpha reported revenues up 22.7%, topping estimates by 7.2%. Ibotta traded up 20.5% following the results while MediaAlpha was also up 20.6%.
Read our full analysis of Ibotta’s results here and MediaAlpha’s results here.
Investors in the media & entertainment segment have had steady hands going into earnings, with share prices flat over the last month. IMAX is down 1.1% during the same time and is heading into earnings with an average analyst price target of $60 (compared to the current share price of $52.00).
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