LIONSGATE REPORTS RESULTS FOR FOURTH QUARTER FISCAL 2023

Lionsgate (NYSE: LGF.A, LGF.B) today reported fourth quarter (quarter ended March 31, 2023) revenue of $1.1 billion, operating loss of $49.6 million and net loss attributable to Lionsgate shareholders of $96.8 million or $0.42 diluted net loss per share on 229.2 million diluted weighted average common shares outstanding. Adjusted net income attributable to Lionsgate shareholders in the quarter was $49.2 million or $0.21 adjusted diluted net earnings per share on 233.2 million diluted weighted average common shares outstanding, with Adjusted OIBDA of $138.0 million.

Lionsgate (NYSE: LGF.A, LGF.B) today reported fourth quarter (quarter ended March 31, 2023) revenue of $1.1 billion, operating loss of $49.6 million and net loss attributable to Lionsgate shareholders of $96.8 million or $0.42 diluted net loss per share on 229.2 million diluted weighted average common shares outstanding. Adjusted net income attributable to Lionsgate shareholders in the quarter was $49.2 million or $0.21 adjusted diluted net earnings per share on 233.2 million diluted weighted average common shares outstanding, with Adjusted OIBDA of $138.0 million. 

Full year fiscal 2023 (fiscal year ended March 31, 2023) revenue was $3.85 billion, operating loss was $1.86 billion, and net loss attributable to Lionsgate shareholders was $2.01 billion, or a $8.82 diluted net loss per share on 227.9 million diluted weighted average common shares outstanding. Adjusted net income attributable to Lionsgate shareholders was $8.8 million or adjusted diluted EPS of $0.04 and Adjusted OIBDA was $358.1 million for fiscal 2023.

“I’m pleased to report that we ended the fiscal year with another strong quarter,” said Lionsgate CEO Jon Feltheimer.  “Our content businesses performed well, our library again achieved record trailing 12-month revenue, and STARZ continues to be profitable while growing subscribers and executing successfully on its bundling and packaging strategy. We enter Fiscal 24 with strong earnings momentum and all the elements in place for strong growth.” 

Revenue from Lionsgate’s 18,000-title film and television library increased to a record $884 million for the trailing 12 months.  Lionsgate ended the quarter with $272 million in available cash and an undrawn revolving credit facility of $1.25 billion.  During the quarter, the Company purchased $58 million of its bonds for $39 million, a $19 million reduction in its net debt.  After the quarter, the Company purchased an additional $85 million of its bonds for $61 million, a further $24 million reduction in its net debt.  

Studio backlog from the Motion Picture and Television Production segments was $1.5 billion at March 31, 2023.

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