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Companies that reported earnings this week
Cineplex
McDonald’s
L.A. wildfires, U.S. tariff threats don’t have Cineplex execs worried
Source: Google
Cineplex (TSE: CGX)
Q4 earnings: $3.3 million or five cents per share, compared with a loss of $9.0 million or 14 cents per share a year earlier.
Q4 box office revenue per patron: $13.26, up from $12.90 a year earlier.
Cineplex Inc.’s chief executive says he doesn’t see the recent Los Angeles wildfires nor tariffs U.S. President Donald Trump has threatened on Canadian goods as spelling major trouble in his business.
Ellis Jacob said the year’s film releases are on track because studios were largely unscathed when flames roared through Hollywood last month.
The Toronto-based cinema chain is similarly expecting little impact from 25% tariffs on Canadian goods Trump put a month-long pause on in early February.
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“I’ve lived through a number of recessions in our business and our business actually does better when economic times are tougher because people and guests travel less, they stay closer to home, and we become one of the cheaper forms of having a good time outside their place of residence,” Jacob said in an interview on Tuesday, noting how much cheaper it is to go to a movie than see live sports…
