Financial News

Earnings To Watch: IMAX (IMAX) Reports Q2 Results Tomorrow

IMAX Cover Image

Premium cinema technology company IMAX (NYSE: IMAX) will be reporting results this Thursday before the bell. Here’s what to expect.

IMAX beat analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $86.67 million, up 9.5% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EPS estimates.

Is IMAX a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting IMAX’s revenue to grow 2.1% year on year to $90.79 million, a reversal from the 9.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.

IMAX Total Revenue

Heading into earnings, analysts covering the company have mixed opinions about the business, with revenue estimates seeing 7 upward and 3 downward revisions over the last 30 days. IMAX has missed Wall Street’s revenue estimates four times over the last two years.

Looking at IMAX’s peers in the media & entertainment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Interpublic Group’s revenues decreased 6.6% year on year, meeting analysts’ expectations, and Omnicom Group reported revenues up 4.2%, topping estimates by 1.2%. Omnicom Group traded up 4.6% following the results.

Read our full analysis of Interpublic Group’s results here and Omnicom Group’s results here.

There has been positive sentiment among investors in the media & entertainment segment, with share prices up 5.1% on average over the last month. IMAX’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $30.82 (compared to the current share price of $28.04).

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