Operating Income was $117.5 Million, Up 52% Year-over-Year
Net Income from Continuing Operations Attributable to Shareholders was $70.2 Million or $0.23 Diluted Net Income Per Share
Adjusted Net Income from Continuing Operations Attributable to Shareholders was $111.6 Million or $0.37 Adjusted Diluted Net Income Per Share
Adjusted OIBDA of $165.4 Million Reached Highest Quarterly Level in 12 Years
Free Cash Flow Was $190.4 Million in the Quarter
Trailing 12-Month Library Revenue Topped $1 Billion for Third Straight Quarter
SANTA MONICA, Calif. and VANCOUVER, BC, May 21, 2026 /PRNewswire/ -- Lionsgate Studios Corp. (NYSE:LION) today reported fourth quarter results for the quarter ended March 31, 2026.
The Company reported fourth quarter revenue of $906.5 million, operating income of $117.5 million and net income from continuing operations attributable to shareholders of $70.2 million or $0.23 diluted net income per share on 298.2 million diluted weighted average common shares outstanding. Adjusted net income from continuing operations attributable to shareholders in the quarter was $111.6 million or $0.37 adjusted diluted net income per share on 298.2 million diluted weighted average common shares outstanding. Adjusted OIBDA was $165.4 million in the quarter.
"All of the pieces of our business are coming together, our library has achieved a billion dollars in trailing 12-month revenue for three quarters in a row, more than half of our film, television and live entertainment slates are comprised of branded, repeatable properties, and massive hits like The Housemaid and Michael are strengthening our brand and increasing our forward visibility," said Lionsgate CEO Jon Feltheimer. "We enter fiscal 27 positioned to deliver the earnings power and value creation that our shareholders expect."
Trailing 12-month library revenue increased 5% from the prior-year quarter to $1 billion.
Fourth Quarter Segment Results
Motion Picture segment revenue of $651.9 million and segment profit of $187.1 million grew by 23% and 39% year-over-year, respectively, driven by the theatrical and ancillary performance of The Housemaid, the ancillary performance of Now You See Me: Now You Don't and strong library sales. The Housemaid grossed nearly $400 million at the worldwide box office, was a record-breaking performer on PVOD among films with comparable box office and became the top Pay One title ever on STARZ.
Television Production segment revenue of $254.6 million and segment profit of $30.5 million declined from the prior year quarter due to the timing of episodic deliveries. The company continues to anticipate doubling scripted deliveries in fiscal 2027 relative to fiscal 2026.
Lionsgate senior management will hold its analyst and investor conference call to discuss fiscal 2026 fourth quarter results today, May 21, at 5:00 PM ET/2:00 PM PT. Interested parties may listen to the live webcast by visiting the events page on the Lionsgate Investor Relations website. Alternatively, interested parties can join the webcast directly via the following link. A full replay will become available this evening by clicking the same link.
About LionsgateLionsgate (NYSE:LION) is one of the world's leading standalone, pure play content companies. It brings together diversified motion picture and television production and distribution businesses, a world-class portfolio of valuable brands and franchises, a premier talent management and production powerhouse at 3 Arts Entertainment and a more than 20,000-title film and television library, all driven by Lionsgate's bold and entrepreneurial culture.
For further information, investors should contact:Nilay Shah310-255-3651[email protected]
For media inquiries, please contact:Peter D. Wilkes310-255-3726[email protected]
Laurel Pecchia310-255-5114[email protected]
The matters discussed in this press release include forward-looking statements, including those regarding the performance of future fiscal years. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including, but not limited to: the substantial investment of capital required to produce and market films and television series; budget overruns; limitations imposed by our credit facility and notes; unpredictability of the commercial success of our motion pictures and television programming; risks related to acquisition and integration of acquired businesses; the effects of dispositions of businesses or assets, including individual films or libraries; the cost of defending our intellectual property; technological changes and other trends affecting the entertainment industry; potential adverse reactions or changes to business or employee relationships; weakness in the global economy and financial markets, including a recession, bank failures and general economic uncertainty; wars, terrorism and multiple international conflicts that could cause significant economic disruption and political and social instability; labor disruptions and strikes; the volatility of currency exchange rates; our ability to manage growth; the effects of competition on our future business; the impact of and changes in governmental regulations or the enforcement thereof, tax laws and rates, accounting guidance and similar matters in regions in which we operate or will operate in the future; international, national or local economic, social or political conditions that could adversely affect our business; the effectiveness of our internal controls and our corporate policies and procedures; changes in personnel and availability of qualified personnel; the volatility of the market price and liquidity of our common shares; and the other risk factors set forth in Lionsgate's public filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
Additional Information Available on WebsitesThe information in this press release should be read in conjunction with the financial statements and footnotes contained in Lionsgate's Annual Report on Form 10-K for the fiscal year ended March 31, 2026, which will be posted on Lionsgate's website at http://investors.lionsgate.com/. Trending schedules containing certain financial information will also be available.
LIONSGATE STUDIOS CORP.
CONSOLIDATED BALANCE SHEETS
(Unaudited, amounts in millions)
March 31,2026
March 31,2025
ASSETS
Current assets:
Cash and cash equivalents
$ 341.5
$ 212.5
Accounts receivable, net
784.8
585.6
Other current assets
362.4
362.1
Assets of discontinued operations - current
—
75.8
Total current assets
1,488.7
1,236.0
Investment in films and television programs, net
2,128.4
1,994.2
Property and equipment, net
34.9
34.1
Investments
41.1
77.8
Intangible assets, net
25.8
20.8
Goodwill
846.8
808.5
Other noncurrent assets
761.4
827.1
Assets of discontinued operations - noncurrent
—
1,823.6
Total assets
$ 5,327.1
$ 6,822.1
LIABILITIES
Total current liabilities:
Accounts payable
$ 213.4
$ 256.5
Content related payables - current
38.0
35.2
Accrued expenses and other current liabilities
354.0
228.8
Participations and residuals
615.6
642.5
Film related obligations - current
1,293.4
1,617.8
Debt - current
162.1
134.0
Deferred revenue - current
370.4
201.7
Liabilities of discontinued operations - current
—
350.8
Total current liabilities
3,046.9
3,467.3
Debt - noncurrent
1,778.1
1,838.9
Participations and residuals
485.2
409.3
Film related obligations - noncurrent
656.5
365.1
Other noncurrent liabilities
308.1
417.3
Deferred revenue - noncurrent
87.6
169.1
Deferred tax liabilities
14.1
12.9
Liabilities of discontinued operations - noncurrent
—
401.2
Total liabilities
6,376.5
7,081.1
Redeemable noncontrolling interest
114.1
93.7
EQUITY (DEFICIT)
Common shares, no par value, unlimited shares authorized, 290.4 shares issued (March 31, 2025 - nil)
2,496.6
—
Old Lionsgate Class A voting common shares, no par value (March 31, 2025 - 83.7 shares issued)
—
674.7
Old Lionsgate Class B non-voting common shares, no par value (March 31, 2025 - 156.8 shares issued)
—
2,522.1
Accumulated deficit
(3,732.9)
(3,534.1)
Accumulated other comprehensive income
43.4
72.6
Total Lionsgate Studios Corp. shareholders' equity (deficit)
(1,192.9)
(264.7)
Noncontrolling interests
29.4
(88.0)
Total equity (deficit)
(1,163.5)
(352.7)
Total liabilities, redeemable noncontrolling interests and equity (deficit)
$ 5,327.1
$ 6,822.1
LIONSGATE STUDIOS CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, amounts in millions, except per share amounts)
Three Months Ended
Year Ended
March 31,
March 31,
2026
2025
2026
2025
Revenues
$ 906.5
$ 865.6
$ 2,631.8
$ 2,584.7
Expenses:
Direct operating
517.8
581.2
1,584.4
1,740.3
Distribution and marketing
110.0
90.4
483.8
398.6
General and administration
145.6
88.5
398.0
357.8
Depreciation and amortization
4.4
4.6
17.6
17.8
Restructuring and other
11.2
23.4
50.9
88.3
Total expenses
789.0
788.1
2,534.7
2,602.8
Operating income (loss)
117.5
77.5
97.1
(18.1)
Interest expense
(58.7)
(66.5)
(259.7)
(261.7)
Interest and other income
6.1
3.4
17.9
15.0
Other income (loss), net
1.9
(6.8)
(19.6)
(11.9)
Loss on extinguishment of debt
—
(0.4)
(2.2)
(4.9)
Gain on investments, net
1.7
—
10.5
—
Equity interests income (loss)
4.9
(4.2)
(3.3)
4.3
Income (loss) from continuing operations before income taxes
73.4
3.0
(159.3)
(277.3)
Income tax provision
(1.3)
(3.4)
(16.2)
(17.2)
Net income (loss) from continuing operations, net of income taxes
72.1
(0.4)
(175.5)
(294.5)
Net loss from discontinued operations, net of income taxes
—
(113.8)
(16.5)
(79.1)
Net income (loss)
72.1
(114.2)
(192.0)
(373.6)
Net (income) loss attributable to noncontrolling interests
(1.9)
(3.2)
(6.3)
11.6
Net income (loss) attributable to Lionsgate Studios Corp. shareholders
$ 70.2
$ (117.4)
$ (198.3)
$ (362.0)
Amounts attributable to Lionsgate Studios Corp. shareholders:
Net income (loss) from continuing operations
$ 70.2
$ (3.6)
$ (181.8)
$ (282.9)
Net loss from discontinued operations, net of tax
—
(113.8)
(16.5)
(79.1)
Net income (loss) attributable to Lionsgate Studios Corp. shareholders
$ 70.2
$ (117.4)
$ (198.3)
$ (362.0)
Per share information attributable to Lionsgate Studios Corp. shareholders:
Basic net income (loss) per common share - continuing operations
$ 0.24
$ 0.01
$ (0.64)
$ (1.12)
Basic net loss per common share - discontinued operations
—
(0.45)
(0.06)
(0.31)
Basic net income (loss) per common share
$ 0.24
$ (0.44)
$ (0.70)
$ (1.43)
Diluted net income (loss) per common share - continuing operations
$ 0.23
$ 0.01
$ (0.64)
$ (1.12)
Diluted net loss per common share - discontinued operations
—
(0.45)
(0.06)
(0.31)
Diluted net income (loss) per common share
$ 0.23
$ (0.44)
$ (0.70)
$ (1.43)
Weighted average number of common shares outstanding:
Basic
290.2
250.6
285.4
248.9
Diluted
298.2
253.9
285.4
248.9
LIONSGATE STUDIOS CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, amounts in millions)
Three Months Ended
Year Ended
March 31,
March 31,
2026
2025
2026
2025
Operating Activities:
Net income (loss)
$ 72.1
$ (114.2)
$ (192.0)
$ (373.6)
Less: Net loss from discontinued operations, net of tax
—
(113.8)
(16.5)
(79.1)
Net income (loss) from continuing operations, net of tax
72.1
(0.4)
(175.5)
(294.5)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization
4.4
4.6
17.6
17.8
Amortization of films and television programs
342.9
400.6
1,022.6
1,172.7
Amortization of debt financing costs and other non-cash interest
0.8
2.2
7.8
25.4
Non-cash share-based compensation
27.0
11.1
78.0
57.0
Other non-cash items
8.0
13.3
58.5
38.8
Content and other impairments
2.3
9.0
17.1
34.8
Loss on extinguishment of debt
—
0.4
2.2
4.9
Equity interests (income) loss
(4.9)
4.2
3.3
(4.3)
Gain on investments, net
(1.7)
—
(10.5)
—
Deferred income taxes
2.4
(12.2)
2.9
(0.4)
Changes in operating assets and liabilities:
Accounts receivable, net
(15.3)
(135.8)
28.7
182.8
Investment in films and television programs, net
(251.7)
65.9
(1,183.8)
(1,196.6)
Other assets
(4.6)
(39.2)
