National CineMedia (NASDAQ:NCMI) Announces Quarterly Earnings Results

National CineMedia (NASDAQ:NCMI) issued its quarterly earnings data on Tuesday. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), FiscalAI reports. National CineMedia had a negative return on equity of 1.80% and a negative net margin of 3.47%.The firm had revenue of $58.40 million for the quarter, compared to the consensus estimate of $59.34 million.

Here are the key takeaways from National CineMedia’s conference call:

• NCM agreed to acquire Captivate for $275 million, creating a premium video and digital out-of-home platform with more than 48,000 screens across theaters, offices, and residential properties.
• Second-quarter revenue rose 12.7% year over year to $58.4 million, while Adjusted OIBDA tripled to $2.1 million; local advertising revenue increased 48.4% and programmatic revenue grew 45%.
• Captivate generated $64 million of 2025 revenue and $19.3 million of Adjusted EBITDA, and management expects at least $3.5 million in annual cost synergies plus additional cross-selling and programmatic opportunities.
• The acquisition will be financed with $275 million of new term debt, bringing expected net leverage to approximately 3.9 times at close; NCM is pausing dividends and share repurchases to prioritize debt repayment.
• NCM completed its operational transformation and remains on track for approximately $11 million in annualized cost savings, but it suspended forward guidance because the transaction could close during the third quarter and create partial-period reporting complications.

National CineMedia Stock Performance

NCMI opened at $3.79 on Wednesday. The firm has a market cap of $355.43 million, a P/E ratio of -42.11 and a beta of 1.38. National CineMedia has a 52-week low of $2.78 and a 52-week high of $5.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.82 and a current ratio of 1.82. The business’s fifty day moving average is $3.79 and its 200-day moving average is $3.51.

Key National CineMedia News

Here are the key news stories impacting National CineMedia this week:

• Positive Sentiment: Expansion beyond movie theaters: NCMI agreed to acquire Captivate Holdings from Generation Partners for $275 million. Captivate operates digital video and lobby advertising networks in office buildings and apartment communities across North America, giving NCMI a broader premium video and digital out-of-home advertising platform. National CineMedia to Acquire Captivate
• Positive Sentiment: Revenue growth and improved liquidity: Second-quarter revenue rose 12.7% year over year to $58.4 million. Reported operating cash flow of $18.1 million, cash of $46.1 million and sharply lower liabilities suggest an improved liquidity position, which may help support the Captivate transaction. National CineMedia Q2 Earnings
• Neutral Sentiment: Strategic rationale remains to be demonstrated: Management’s earnings call focused on combining cinema advertising with Captivate’s office, residential and elevator networks. Investors will likely look for details on transaction funding, cost synergies, integration execution and the acquisition’s effect on future growth. NCMI Q2 2026 Earnings Call Transcript
• Negative Sentiment: Quarterly results missed expectations: NCMI reported a loss of $0.10 per share versus the consensus loss estimate of $0.09, while revenue of $58.4 million fell short of the $59.34 million forecast. The company remained unprofitable, with a negative net margin and negative return on equity. NCMI Reports Q2 Loss
• Negative Sentiment: Insider selling is a cautionary signal: Data cited in the earnings coverage showed executives sold shares during the past six months without reported insider purchases, which may weigh on sentiment even though it does not directly change the company’s operating outlook. NCMI Insider Trading Activity

Insider Buying and Selling

In related news, insider Maria Vg Woods sold 12,058 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $3.77, for a total value of $45,458.66. Following the completion of the transaction, the insider owned 163,162 shares of the company’s stock, valued at $615,120.74. The trade was a 6.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On National CineMedia

Several hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of National CineMedia in the 3rd quarter valued at approximately $34,000. Graham Capital Management L.P. acquired a new stake in shares of National CineMedia during the 4th quarter worth approximately $40,000. Strs Ohio bought a new position in National CineMedia in the first quarter valued at approximately $43,000. Jump Financial LLC bought a new position in National CineMedia in the fourth quarter valued at approximately $53,000. Finally, BNP Paribas Financial Markets raised its position in National CineMedia by 103.2% during the third quarter. BNP Paribas Financial Markets now owns 12,895 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 6,549 shares in the last quarter. 69.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NCMI. Wall Street Zen raised National CineMedia from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of National CineMedia in a report on Friday. Finally, Wedbush lowered their price objective on National CineMedia from $6.50 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.38.

About National CineMedia

National CineMedia, Inc is a leading U.S. out-of-home media company specializing in cinema advertising. The firm operates a proprietary network that delivers high-impact advertising content to moviegoers across a broad footprint of theaters, offering brands a targeted and immersive way to engage audiences in a captive, distraction-free environment.

Founded in 2003 and headquartered in Centennial, Colorado, National CineMedia began as a joint venture among several major exhibition chains.