Regal Entertainment Handily Beats Q4 Earnings Forecasts
Everything seemed to be working for the No. 1 exhibition chain at the end of 2012. In the last three months of the year it generated $37.3M in net income, up from $4M at the end of 2011, on revenues of $723.1, +17.8%. The revenue figure was well ahead of the $705.8M that analysts anticipated. And adjusted earnings at 28 cents a share topped forecasts for 21 cents. Attendance rose 14.8% to 54.8M and the average ticket sold for $8.86, +2.1%. Concession sales came to $3.44 per patron, +3%. The strong results made 2012 “a record year for Regal,” CEO Amy Miles says. She adds that she’s “encouraged by the early 2013 box office results and the films scheduled for release in the coming months.”
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