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Cineplex Inc. (TSX:CGX) reported Q4 and year-end 2023 results yesterday. The results came in below expectations but there were definitely some bright spots. Let’s take a look at what investors need to know about Cineplex (CGX) stock.
Cineplex reports a net loss in Q4
A $0.14 loss per share for Cineplex’s fourth quarter was certainly a disappointment, sending CGX stock down 7% yesterday.
As Cineplex continued to struggle with lack of content, attendance has been low relative to earlier quarters of the year. Consequently, box office revenue came in at $124 million, 68% of the fourth quarter of 2019 (pre-pandemic levels).
While all of this is disappointing, there are two things to keep in mind. The first is that this was expected, as the effects of the writers’ strike on movie content linger. We have known the strike would affect the stock price and CGX has been under pressure since it began. The…
