Imax Corp Stock Price, News & Analysis

IMAX Corporation reported robust earnings with a $23 million worldwide opening for Disney/Marvel's Thor: Love and Thunder, including $13.8 million from North America. This constituted a notable 10% of the overall domestic box office. The film achieved the largest domestic IMAX opening weekend for the Thor franchise and marked a top ten all-time IMAX opening weekend globally, excluding China. Internationally, IMAX generated $9.2 million across 65 countries, showcasing the brand's strong market position.

IMAX Corporation announced a 12-month extension of its share-repurchase program, which now runs until June 30, 2023. The program allows for the repurchase of up to $200 million of common shares, with $26.2 million remaining available. Since the program's initiation in July 2017, IMAX has repurchased about 10 million shares, representing a 15% net reduction. This extension is supported by an exemption under Canadian securities law that allows purchases beyond the typical limits, thus enhancing shareholder value and potentially influencing stock price positively.

IMAX Corporation has partnered with Pathé Live to release the first-ever 'Filmed for IMAX' concert featuring French band INDOCHINE. The concert, recorded on June 25, 2022, at the Groupama Stadium in Lyon, will debut in select IMAX theaters in Europe on November 23, 2022, and in non-IMAX theaters the following day. Celebrating INDOCHINE's 40th anniversary, the CENTRAL TOUR has sold over 400,000 tickets. The event will showcase groundbreaking technology, including 22 IMAX-certified cameras and the largest LED screen ever used in a concert.

IMAX Corporation and ODEON Cinemas have expanded their partnership, set to upgrade six UK theatres to IMAX with Laser systems by 2025 and establish nine new locations across Europe, including Spain and Italy. This move aims to enhance the cinematic experience as audiences return in strong numbers post-pandemic. Notably, ODEON is IMAX's largest partner in Europe, currently operating 34 IMAX theatres. Rich Gelfond, IMAX CEO, emphasized the growing market share and the positive momentum from this agreement, reinforcing IMAX's commitment to innovative cinematic technology.

IMAX Corporation achieved a remarkable $25 million global opening for Jurassic World: Dominion, marking its third consecutive weekend with earnings over $25 million. The film garnered $12.3 million in North America and $6.3 million in China, representing the largest IMAX Hollywood debut in China since May 2021, despite capacity restrictions. IMAX has exceeded its total summer box office from 2021, with several upcoming releases designed for IMAX, including Lightyear and Thor: Love and Thunder.

IMAX Corporation (NYSE: IMAX) has announced that CEO Richard L. Gelfond will present at the Credit Suisse 24th Annual Communications Conference on June 14, 2022, at 4:35 PM ET. Investors can access a live webcast of this event on the IMAX investor relations website. As of March 31, 2022, IMAX operates 1,690 theater systems worldwide, reinforcing its status as a leading global technology platform for immersive entertainment experiences. The company continues to leverage its innovative technology to enhance audience engagement across various content formats.

IMAX achieved a remarkable milestone with a record-breaking $32.5 million global opening for Top Gun: Maverick, representing the best Memorial Day Weekend in its history. The film garnered $21 million specifically from IMAX theaters, comprising 14% of the North American box office. Tom Cruise's latest blockbuster clinched the highest IMAX opening for him to date, surpassing prior records over a decade. The film was shot using advanced IMAX technology, providing exclusive content for audiences.

IMAX Corporation and Dolphin Entertainment have forged a multi-year agreement to co-finance and produce a series of feature-length documentaries. The inaugural project is The Blue Angels, developed by Bad Robot Productions and Zipper Bros Films, spotlighting the Navy and Marine Corps flight squadron during their training and performance seasons. The documentary promises unprecedented views inside the cockpit and formation of the F/A-18 Super Hornets. The Blue Angels is currently in production and is slated for release in IMAX theaters in 2023.

IMAX Corporation (NYSE: IMAX) will have its CEO, Rich Gelfond, present at the 50th Annual J.P. Morgan Global Technology, Media and Communications Conference on May 25, 2022, at 9:20 AM Eastern Time. Accompanied by CFO Natasha Fernandes and Head of Enterprise Transformation Heather Anthony, the team will engage in one-on-one investor meetings in Boston. A live webcast of the event will be accessible on IMAX's investor relations site at investors.imax.com.