secwatch.observer — SEC 8-K summary
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Issuer:     STARZ ENTERTAINMENT CORP /CN/ (STRZ)
CIK:        0000929351
Form:       8-K
Filed at:   2026-05-07T23:59:59+00:00
Accession:  0000929351-26-000030
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starz Q1 revenue $306.9M, Adj OIBDA $58.0M; accelerates margin target to H2 2027
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- Revenue $306.9M; OTT revenue grew sequentially to $211.1M; operating loss $(152.8)M.
- Adjusted OIBDA $58.0M (sequential growth); net cash from ops $73.2M (+$136.7M YoY); unlevered FCF $80.7M.
- Margin expansion accelerated: 20% Adj OIBDA margin target now H2 2027, one year ahead of prior guidance.
- 2026 outlook reiterated: positive YoY OTT revenue growth, low-single-digit Adj OIBDA growth, unlevered FCF $80-120M.
- Leverage ratio ~3.1x TTM; net debt $523M; $150M revolver undrawn.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/929351/000092935126000030/0000929351-26-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/929351/000092935126000030/starz-20260507.htm
  HTML page:      https://secwatch.observer/filing/0000929351-26-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer