Lionsgate Q2 FY2023: $1.75B operating loss on $1.48B STARZ goodwill impairment; exits 7 intl territories

STARZ ENTERTAINMENT CORP /CN/

2023-Q2 EPS reported -$8.51 revenue$1,769,100,000

Revenue $875.2M; net loss $1.81B ($7.95/share); adjusted net loss $28M ($0.12/share); adjusted OIBDA $47.4M.
Non-cash goodwill impairment of $1.48B from STARZ acquisition; $218.9M restructuring charge for exiting 7 LIONSGATE+ territories.
Media Networks segment profit $21M (vs $5.5M); global streaming subs up 52% YoY to 27.3M; LIONSGATE+ subs up 97% to 14.8M.
Studio Business segment profit $69.1M (vs $130.3M); Motion Picture revenue down to $224M, Television Production up to $430.9M.
FY2023 Adjusted OIBDA guidance $275M-$325M; FY2024 $400M-$450M; cash on balance sheet $557.1M; adj. FCF positive $123.5M.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STARZ ENTERTAINMENT CORP /CN/ reported quarter ended September 30, 2022 results: revenue $875.2 million, net income $1.81 billion, EPS $7.95 diluted net loss per share.

Period: quarter ended September 30, 2022
Revenue: $875.2 million
Net income: $1.81 billion
EPS: $7.95 diluted net loss per share
Result: reported results

Exact text from the filing

Lionsgate (NYSE: LGF.A, LGF.B) today reported second quarter (quarter ended September 30, 2022) revenue of $875.2 million, operating loss of $1.75 billion and net loss attributable to Lionsgate shareholders of $1.81 billion or $7.95 diluted net loss per share on 227.9 million diluted weighted average common shares outstanding.

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Source: SEC EDGAR

accession 0000929351-22-000032

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