Lionsgate reports Q1 adjusted EPS (43c), consensus (64c)

Reports Q2 revenue $948.6M, consensus $935.25M. “In a transitional, disrupted and difficult year for our industry, we reported disappointing financial results in the quarter,” said Lionsgate (LGF.B) (LGF.A) and Lionsgate Studios CEO Jon Feltheimer. “Our performance underscores the need to adhere even more rigorously to the risk mitigated business models, slate diversification and strict financial discipline that have always served us well. The combination of a return to strong content slates, the continued stellar performance of our film and television library and sure-handed execution will put us back on the path to solid growth and shareholder value creation. We’re pleased to report STARZ remains on track to reach its full year target of $200 million Adjusted OIBDA and remains well-positioned for the upcoming separation of our Studio and STARZ businesses.”