Wednesday, October 15, 2025

Cineplex Rallies 9% After Posting Nearly Pre-Pandemic Financials In Q1 2022

Cineplex Inc. (TSX: CGX) reported yesterday morning its financial results for Q1 2022, which saw $228.7 million in revenue. This is a marginal drop from Q4 2021’s $300.0 million but an increase from Q1 2021’s $41.4 million, and nearly compares to pre-pandemic Q1` 2020’s $282.8 million in revenue.

“With operating restrictions now completely lifted across our entire circuit, guests and customers are quickly returning and we are seeing positive results and momentum across all of our business lines,” said CEO Ellis Jacob.

Following the earnings release, the firm’s share price rose by as much as 9% when the markets opened.

The company’s revenue for the quarter comes from the box office ($80.0 million), food service ($68.4 million), media ($15.5 million), amusement ($50.4 million), and other revenues ($14.4 million). However, the firm still incurred operating expenses larger than the revenue, leading to notching an operating loss of $42.9 million for the quarter.

This further led to posting a $42.2 million net loss for the quarter, compared to last quarter’s $21.8 million net loss, last year’s $89.7 million net loss, and pre-pandemic Q1 2020’s $178.4 million net loss. This translates to $0.67 loss per share.

As restrictions have slowly been lifted, Cineplex saw a resurgence in its theatre attendance. The cinema chain welcomed 6.7 million guests during the quarter compared to last quarter’s 10.2 million guests, last year’s 0.4 million guests, and pre-pandemic Q1 2020’s 10.7 million guests.

The company ended Q1 2022 with $24.1 million in cash and cash equivalents, down from Q4 2021’s $26.9 million. This puts the balance of the current assets at $129.2 million while current liabilities ended at $522.2 million.

The cinema chain also recorded a negative $21.7 million in adjusted free cash flow, a jump from Q1 2021’s negative $78.8 million but still lower from pre-pandemic Q1 2020’s negative $0.2 million.

Cineplex Inc. last traded at $12.55 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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