Regal Beats Quarterly Earnings Expectations

Courtesy of AEG

Admissions revenue rose to $515.7 million in the quarter compared to $454.1 million a year ago.

Regal Entertainment Group earned 27 cents per share in the first quarter, up from 15 cents a year ago, on revenue of $787.1 million, up from $691.3 million, the movie-theater giant said Thursday.

Regal bested the expectations of analysts, crediting "a healthy box office environment and our focus on delivering a great customer experience."

Admissions revenue rose to $515.7 million in the quarter compared to $454.1 million a year ago, while concessions were $230.1 million, up from $198.2 million.

The average price of a ticket at a Regal theater was $9.68, while it was $8.97 last year. The average amount spent for concessions rose to $4.32 from $3.92.

Regal operates 7,329 screens in 567 theaters in 42 states.

Shares of Regal closed 1 percent higher to $21.74 on Thursday and climbed another 4 percent after the closing bell.

Said Regal CEO Amy Miles: "With a great first quarter already in the books and an exciting film slate set for the upcoming summer and holiday seasons, we are optimistic regarding box office prospects for the remainder of the year."

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