Cineplex (CGX) Q1 2026 earnings summary

Executive summary

• Achieved highest first quarter revenue since 2019, with total Q1 revenue of $291 million and box office up 25% year-over-year, driven by a strong and diverse film slate and premium experiences.

• Attendance increased 17.3% to 9.8 million guests, with box office and food service revenues reaching record Q1 levels.

• Premium formats accounted for 38.2% of box office revenue, and both box office per patron ($12.94) and concession per patron ($9.54) hit all-time Q1 highs.

• Loyalty and digital engagement initiatives, including CineClub and Scene+ partnerships, drove higher visit frequency and spending, with Scene+ membership exceeding 15 million.

• Adjusted EBITDAaL turned positive at $4.1 million, up from a loss of $10.7 million last year, and net loss from continuing operations narrowed to $22.4 million from $35.1 million.

Financial highlights

• Total Q1 revenue was $291 million, up 15.6% year-over-year, with box office revenue at $127.4 million and attendance at 9.8 million.

• Adjusted EBITDA rose to $44.7 million, and Adjusted EBITDAaL margin improved to 1.4% from -4.3%.

• Concession revenue per patron reached a record $9.54, up 4.5% year-over-year.

• Media segment revenues declined 18.9% to $13.9 million due to lower in-theater advertising, impacted by the Olympics and reduced pharma spend.

• Location-based entertainment revenues fell 8.1% to $35 million, with EBITDAaL/store-level margin at 25%.

Outlook and guidance

• April box office revenues increased 17% year-over-year, and the second quarter box office to date is up 23% over the prior year.

• 2026 film slate is described as one of the most compelling in years, with depth across family, franchise, and original content.

• Guidance for 2026 capital expenditures remains at approximately $50 million.

• No material impact from global or economic uncertainty is expected; supply chain and fuel cost exposures are limited.

• Strategic focus remains on maximizing revenue per square foot, leveraging loyalty programs, and expanding premium experiences.