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Lionsgate Studios
Lionsgate Studios (LION) investor relations material
Lionsgate Studios Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Feb, 2026
Executive summary
Fiscal Q3 2026 revenue reached $724.3 million, with operating income of $36.0 million and a net loss attributable to shareholders of $46.2 million, or $0.16 per share; adjusted net income was $3.9 million, or $0.01 per share.
Adjusted OIBDA was $85.3 million, and trailing 12-month library revenue hit a record $1.05 billion, marking the fifth consecutive record quarter.
The company completed the Starz Separation, now operating through Motion Picture and Television Production segments, and reported Starz as discontinued operations.
Renewals secured for 12 of 13 scripted TV series, and a new franchise launched with The Housemaid, with its sequel in production.
Strategic cost reductions, business restructuring, and governance changes, including board additions and share structure simplification, position the company for agility amid industry disruption.
Financial highlights
Quarterly revenue rose to $724.3 million from $628.2 million year-over-year, a 15% increase.
Operating income was $36.0 million, up from $27.7 million in the prior year.
Net loss attributable to shareholders was $46.2 million, compared to $23.1 million in the prior-year quarter.
Adjusted OIBDA was $85.3 million, down from $115.2 million in the prior-year quarter.
Adjusted free cash flow for the quarter was $(57.5) million, compared to $63.2 million in the prior-year quarter.
Outlook and guidance
Management expects Q4 adjusted OIBDA to improve materially from Q3, driven by strong theatrical carryover and increased Pay-1 window titles.
Fiscal 2027 projected to see strong adjusted OIBDA growth, supported by a tentpole-heavy film slate and doubled scripted episodic TV deliveries.
Leverage expected to decline meaningfully as adjusted OIBDA and free cash flow improve, with mid-4x leverage targeted by mid-Fiscal 2027 and 3–3.5x by Fiscal 2028.
Management reiterated confidence in meeting fiscal 2026 targets and expects significant growth in fiscal 2027 and beyond, citing strong IP investments and expanding franchise properties.
Cash flow from operations, available credit, and receivables monetization expected to cover operational and debt service needs for the next 12 months and beyond.
Drivers of TTM library revenue growth
What is the P&A spend strategy for film releases?
How does Starz licensing impact segment profit?
How does AI adoption protect creators/talent?
How does industry consolidation benefit Lionsgate?
Sustainability of doubling TV episodic deliveries?
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Next Lionsgate Studios earnings date
Q4 202621 May, 2026
Lionsgate Studios
Next Lionsgate Studios earnings date
Q4 202621 May, 2026
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Frequently asked questions
Lionsgate Studios Corp (formerly Lions Gate Entertainment Corp) operates through Motion Picture Production, Motion Picture Distribution, Television Production and Distribution, Television Networks and Group, Media Networks and Group, and Location-Based Entertainment segments. The Motion Picture Production segment engages in the development and production of motion pictures for theatrical release; licensing of distribution rights for motion pictures to theater owners; and production of television shows for various networks, including Fox Broadcasting Company. The Motion Picture Distribution segment distributes motion pictures to various channels of distribution, including theatrical, home video/DVD, pay and free television, subscription video on demand platforms, electronic sell-through platforms, in-flight entertainment services, and other forms. The Television Production segment develops and produces scripted and non-scripted programming content for network episodic series, licensees or distributors.
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