Canadian movie theater chain Cineplex (TSE:CGX) has reported a hefty first-quarter loss as people continue to stream films at home and moviegoers remain in short supply.
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The Toronto-based company reported a loss of C$22.4 million ($16.39 million U.S.) for this year’s first quarter. The loss amounted to C$0.36 per share for the quarter ended March 31. While the latest loss is an improvement from a loss of C$36.6 million recorded a year earlier, the company remains in the red.
Management touted that its revenue, or ticket sales, totaled C$291 million for the year’s first quarter, up 16% from C$251.7 million in the first quarter of 2025. However, that was a fraction of the company’s ticket sales before the Covid-19 pandemic upended the movie theater business.
Movie Attendance at Cineplex
The company added in its earnings release that movie theatre attendance amounted to 9.8 million patrons during Q1 of this year, up from 8.4 million a year earlier. Box office revenue per patron was C$12.94, up from C$12.14 in the same quarter a year ago.
Concession revenue per patron in the latest quarter totaled C$9.54, up from C$9.13 in Q1 2025. Like other movie theater chains, Cineplex has struggled since the pandemic forced it to close its movie theatres or operate them at reduced capacity. The rise of streaming platforms has also hurt its business. CGX stock is down 15% over the last five years.
Is CGX Stock a Buy?
Cineplex’s stock has a consensus Moderate Buy rating among five Wall Street analysts. That rating is based on three Buy and two Hold recommendations issued in the last three months. The average CGX price target of C$12.70 implies 15% upside from current levels. These ratings could change after the company’s financial results.
