JPMorgan has unveiled his latest picks for short positions, flagging three stocks — IMAX Corp IMAX, ZIM Integrated Shipping Services Ltd ZIM, and H.B. Fuller Company FUL— as potential downside plays. Each faces unique headwinds, with challenging market dynamics and heightened financial strain.Here’s why these stocks are under the microscope for short-sellers.IMAX: The Big Screen, But Smaller Numbers?While IMAX has been a leader in high-end cinematic experiences, analyst David Karnovsky is cautious. Despite ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium includes access to the Zacks Style Scores as well.What are the Zacks Style Scores?The Z ...

Have you been paying attention to shares of Imax (IMAX) ? Shares have been on the move with the stock up 27.8% over the past month. The stock hit a new 52-week high of $25.28 in the previous session. Imax has gained 64.7% since the start of the year compared to the 7.9% move for the Zacks Consumer Discretionary sector and the 9.7% return for the Zacks Film and Television Production and Distribution industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it ...

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IMAX Corporation (IMAX) reported third-quarter 2024 adjusted earnings of 35 cents per share, which beat the Zacks Consensus Estimate by a whopping 59% and remained flat year over year.Total revenues of $91.4 million missed the Zacks Consensus Estimate by 2.88% and decreased 12% year over year. Greater China is the Company’s largest market by revenues, with approximately 25% of overall revenues generated from its Greater China operations for the nine months ended Sept. 30, 2024. Greater China accounted for 2 ...

Imax (IMAX) reported $91.45 million in revenue for the quarter ended September 2024, representing a yearover-year decline of 12%. EPS of $0.35 for the same period compares to $0.35 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $94.16 million, representing a surprise of -2.88%. The company delivered an EPS surprise of +59.09%, with the consensus EPS estimate being $0.22. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

IMAX Corporation (NYSE:IMAX) Q3 2024 Earnings Conference Call October 30, 2024 4:30 PM ET Company Participants Jennifer Horsley - Head-Investor Relations Richard Gelfond - Chief Executive Officer Natasha Fernandes - Chief Financial Officer Conference Call Participants Eric Handler - Roth Capital Chad Beynon - Macquarie David Karnovsky - JP Morgan Omar Mejias - Wells Fargo David Joyce - Seaport Research Partners Patrick Sholl - Barrington Research Stephen Laszczyk - Goldman Sachs Mike Hickey - The Benchmark ...

Imax (IMAX) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 59.09%. A quarter ago, it was expected that this entertainment technology company would post earnings of $0.06 per share when it actually produced earnings of $0.18, delivering a surprise of 200%.Over the last four quarters, ...

Financial Performance - IMAX China's net income attributable to the Company for Q3 2024 is $3.6 million, compared to $7.9 million in Q3 2023[194] - Net income attributable to common shareholders for the three months ended September 30, 2024, was $13.9 million, a 16% increase from $12.0 million in 2023[259] - Revenues for the three months ended September 30, 2024, decreased by $12.4 million, or 12%, compared to the same period in 2023[260] - Content Solutions segment revenues decreased by $14.1 million, or 32%, for the three months ended September 30, 2024, compared to 2023[263] - IMAX box office for the three months ended September 30, 2024, totaled $239.5 million, a 31% decrease from $347.1 million in 2023[264] - Technology Products and Services segment revenue increased by $1.8 million, or 3%, for the three months ended September 30, 2024, compared to 2023[269] - Gross margin percentage for the Technology Products and Services segment decreased to 55% in 2024 from 60% in 2023[270] - All Other segment revenue decreased by $0.2 million for the three months ended September 30, 2024, compared to 2023[271] - Total Selling, General and Administrative Expenses decreased by $4.8 million (13%) year-over-year, driven by lower transaction expenses and operational efficiencies[273] - Research and Development cost recovery of $0.3 million in Q3 2024, compared to an expense of $2.8 million in the same period last year[275] - Credit loss reversal of $1.1 million in Q3 2024, compared to a credit loss expense of $0.5 million in the prior year, primarily due to improved collections in China[277] - Interest expense increased by $0.8 million (51%) in Q3 2024, driven by higher borrowings under the Credit Facility[279] - Net income attributable to common shareholders decreased to $20.8 million in the nine months ended September 30, 2024, from $22.8 million in the same period last year[283] - Revenues decreased by $29.3 million (10%) and gross margin decreased by $28.8 million (17%) in the nine months ended September 30, 2024, primarily due to weaker IMAX box office performance[284] - IMAX box office totaled $696.5 million in the nine months ended September 30, 2024, a decrease of $192.4 million (22%) compared to the prior year[289] - Technology Products and Services segment revenue decreased by $19.8 million (12%) and gross margin decreased by $18.7 million (19%) in the nine months ended September 30, 2024[294] - Rental revenues decreased by $14.1 million in the nine months ended September 30, 2024, due to a $85.0 million (20%) decrease in GBO from joint revenue sharing arrangements[294] - Gross margin for the nine months ended September 30, 2024 was 54%, down from 58% in the prior period, primarily due to lower rental revenues[295] - All Other revenue decreased by $1.1 million (12%) and gross margin decreased by $0.4 million (6%) for the nine months ended September 30, 2024, driven by the performance of the company's theater and revenue mix from Streaming and Consumer Technology operations[296] - Selling, General and Administrative Expenses decreased by $9.0 million (8%) to $100.3 million for the nine months ended September 30, 2024, reflecting lower transaction expenses and operational efficiencies[297][298] - Research and Development expenses decreased by $3.4 million (46%) to $4.0 million for the nine months ended September 30, 2024, due to the capitalization of costs related to new IMAX film cameras[300] - The company recorded a credit loss reversal of $1.0 million for the nine months ended September 30, 2024, compared to a credit loss expense of $1.6 million in the prior year, driven by improved collections in China[302] - Interest expense increased by $1.4 million (28%) to $6.5 million for the nine months ended September 30, 2024, due to higher average borrowings under the Credit Facility[304] - Income tax expense decreased to $3.5 million for the nine months ended September 30, 2024, with an effective tax rate of 12.0%, compared to $14.9 million and 33.4% in the prior year, due to tax benefits from an internal asset sale[305][306] - Net cash provided by operating activities increased by $4.7 million to $59.4 million for the nine months ended September 30, 2024, driven by a $23.0 million decrease in Accounts Receivable[309][310] - Net cash used in investing activities totaled $30.3 million for the nine months ended September 30, 2024, primarily for equipment investments under joint revenue sharing arrangements[312] - The company had $104.5 million in cash and cash equivalents as of September 30, 2024, with $253.0 million in available borrowing capacity under its Credit Agreement[318][319] - For the three months ended September 30, 2024, adjusted net income attributable to common shareholders was $18.855 million, or $0.35 per diluted share[332] - For the twelve months ended September 30, 2024, adjusted net income attributable to common shareholders was $36.542 million, or $0.68 per diluted share[333] - EBITDA for the three months ended September 30, 2024, was $30.955 million, and adjusted EBITDA per Credit Facility was $35.570 million[337] - EBITDA for the twelve months ended September 30, 2024, was $87.090 million, and adjusted EBITDA per Credit Facility was $113.554 million[339] IMAX Network and Technology - IMAX's global network consists of 1,788 systems across 89 countries as of September 30, 2024, up from 1,731 systems in 87 countries in 2023[201] - The Company's IMAX Film Remastering typically earns approximately 12.5% of global box office receipts, except in Greater China where it receives a lower percentage due to import taxes[210] - IMAX's proprietary technology delivers up to 26% more image on standard IMAX screens and up to 67% more image in select locations with IMAX-exclusive 1.43 film aspect ratio[202][213] - The Company is leveraging AI for image enhancement, streaming technology, and data analysis to improve business operations and efficiency[207] - IMAX's Content Solutions segment generates revenue primarily from digital remastering of films and distribution across the IMAX network[209] - The Company's IMAX Laser Systems are driving the next major renewal and upgrade cycle for the global IMAX network[206] - IMAX's proprietary sound systems reduce background noise by four-fold, enhancing the immersive experience[201] - The company has a footprint of 265 connected locations in the IMAX network as of September 30, 2024, enabling live and interactive events with low latency[217] - The company's IMAX Enhanced technology offers expanded aspect ratio, proprietary remastering, and signature sound for home viewing[233] - The company's AI-powered streaming products, such as IMAX StreamSmart and IMAX StreamAware, aim to reduce costs and improve video quality for streaming platforms[230][231] - Over 15 million IMAX Enhanced certified devices are estimated to be in the market as of September 30, 2024[235] Film Releases and Box Office Performance - The company released 83 IMAX films and alternative content experiences globally in the nine months ended September 30, 2024, compared to 67 in the same period in 2023[214][215] - Top-performing films in the nine months ended September 30, 2024, included Dune: Part Two, Deadpool & Wolverine, and Godzilla x Kong: The New Empire, among others[214] - The company announced an additional 21 films and alternative content experiences to be released in the remainder of 2024, including Joker: Folie à Deux and Venom: The Last Dance[215] - Queen Rock Montreal became one of the company's highest-grossing concert films, alongside Taylor Swift: The Eras Tour in 2023[218] - The IMAX network generated over $114 million in box office from local language films in the nine months ended September 30, 2024, representing approximately 16% of total box office[242] - Local language films generated over $114 million in box office, representing 16% of total box office in the nine months ended September 30, 2024[289] International Strategy and Market Penetration - IMAX's international strategy includes expanding its network and supplementing Hollywood films with local language films in markets like China, Japan, and India[213] - As of September 30, 2024, the company had 808 IMAX Systems operating in Greater China with an additional 254 systems in backlog[241] - The company estimates a worldwide commercial multiplex addressable market of 3,619 locations, with 1,714 IMAX Systems operating as of September 30, 2024, representing a market penetration of 47%[240] - 76% of IMAX Systems in the global commercial multiplex network were located within international markets as of September 30, 2024[240] - Revenue from Greater China operations represents 25% of consolidated revenue in the nine months ended September 30, 2024[241] - 54% of the company's total current backlog is represented by system backlog in Greater China as of September 30, 2024[251] - 31% of IMAX System arrangements in backlog as of September 30, 2024 are scheduled to be installed in international markets excluding Greater China[251] Backlog and Installations - The company has 894 locations under joint revenue sharing arrangements globally as of September 30, 2024, with 302 systems in backlog[228] - The company's backlog as of September 30, 2024 includes 363 new systems and 109 upgrades, with a total dollar value of $221.764 million[245] - The company's worldwide backlog includes 262 new IMAX Laser Systems and 109 upgrades of existing locations to IMAX Laser Systems as of September 30, 2024[250] - IMAX System signings for the three months ended September 30, 2024, totaled 16, compared to 20 in the same period in 2023[253] - IMAX System installations for the three months ended September 30, 2024, increased to 49, up from 30 in the same period in 2023[254] Revenue Sharing and Cash Flow - The company's joint revenue sharing arrangements drive recurring cash flows, with customers paying a portion of ongoing box office receipts[228] - The company expects to release Avatar 3 and a record 14 or more Filmed For IMAX titles in 2025, including Marvel and Mission Impossible films[215] - The company forecasts future cash flow and short-term liquidity requirements based on estimates, but these forecasts may be materially impacted by factors outside of its control, such as IMAX system signings, installations, and box office performance[320] - Management expects sufficient capital and liquidity to fund operating needs and capital requirements for the next twelve months based on current cash balances and operating cash flows[321] Non-GAAP Financial Measures - The company presents non-GAAP financial measures, including adjusted net income, EBITDA, and adjusted EBITDA per Credit Facility, to provide supplemental performance metrics and enhance comparability between periods[327][329][335] - The company adjusts Selling, General, and Administrative Expenses to exclude a portion of share-based compensation and related payroll taxes for internal decision-making and period-to-period comparisons[339] - Total Selling, General and Administrative Expenses for the three months ended September 30, 2024 were $31.466 million, a decrease from $36.282 million in the same period in 2023[341] - Total Selling, General and Administrative Expenses, excluding share-based compensation, for the nine months ended September 30, 2024 were $84.408 million, down from $92.799 million in 2023[341] Market Risks and Foreign Exchange - The company is exposed to market risks from foreign currency exchange rates and interest rates, particularly between the U.S. Dollar, Canadian Dollar, and Chinese Renminbi[339] - The Company recorded foreign exchange net losses of $0.3 million and $0.8 million for the three and nine months ended September 30, 2024, respectively[346] - The notional value of foreign currency cash flow hedging instruments qualifying for hedge accounting as of September 30, 2024 was $31.8 million, down from $40.6 million at the end of 2023[348] - The Company had drawn down $47.0 million on its Credit Facility as of September 30, 2024, up from $24.0 million at the end of 2023[352] - Variable rate debt instruments represented 10.0% of the Company's total liabilities as of September 30, 2024, up from 5.0% at the end of 2023[353] - The Company's PRC subsidiaries held RMB 349.3 million ($49.9 million) in cash and cash equivalents as of September 30, 2024, up from RMB 213.0 million ($30.0 million) at the end of 2023[345] - A 10% change in foreign currency exchange rates would result in a $16.1 million change in the fair value of foreign currency-denominated financing receivables and working capital items[350] - A 1% change in foreign currency exchange rates would result in a $0.3 million change in Selling, General and Administrative Expenses[350] - The Company's interest expense would increase by $0.3 million and interest income from cash would increase by $0.1 million if interest rates increased by 10%[353] Off-Balance Sheet Arrangements - There are currently no off-balance sheet arrangements that have or are likely to have a material effect on the company's financial condition[324]

Exhibit 99.1 IMAX CORPORATION REPORTS THIRD QUARTER 2024 EARNINGS RESULTS • Global entertainment platform delivers Net Income of $14 million (+16% YoY), EPS of 26 cents (+18% YoY), and Cash from Operations of $35 million (+23% YoY) (1) • Strong profitability highlighted by Total Adjusted EBITDA of $39 million at a 42% margin; and Adjusted EPS of 35 cents, matching a third quarter record (2) (1)(2) • Network growth accelerates as IMAX expects to deliver on high-end of full-year installation guidance, with 49 ...