Regal Entertainment Cost-Cutting Delivers Better Than Expected 2Q Profits On Light Revenue Growth

Regal reported 2Q net profits of $34.8M, up from $4.8M in the same period last year on revenues of $519.3M, up 2.6%. Earnings at 24 cents a share exceeded the 19 cents expected by analysts who follow the company. But they also expected the theater chain to generate as much as $762.1M in revenues. Regal CEO Amy Miles credits “our focus on cost control” for helping to improve profits. She adds that the company is “encouraged by the early third quarter box office results and the prospects for the remainder of the year.” Regal also declared a 21 cents a share dividend and says it “intends to pay a regular quarterly dividend for the foreseeable future.”

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