Corus Entertainment Inc. T.CJR.B

Selling at the lowest point is rarely a great idea

[YassineNoBS]

• Consolidated revenue was flat for the quarter and decreased 5% for the year

• Consolidated segment profit(1) decreased 18% for the quarter and 25% for the year

• Consolidated segment profit margin(1) of 14% for the quarter and 22% for the year

• Net income attributable to shareholders of $50.4 million ($0.25 per share basic) for the quarter, which includes gain on business divestiture of $142.3 million and impairment charges of $100.0 million related to broadcast license and brands and trade marks. Net loss attributable to shareholders of $428.7 million ($2.15 loss per share basic) for the year, which includes a gain on business divestiture of $142.3 million as well as non-cash impairment charges of $690.0 million for the year

• Proforma net debt to segment profit(1) of 3.62 times at August 31, 2023, which excludes contributions to segment profit from business divestiture, up from 3.02 times at August 31, 2022, and down from 3.85 times at the end of the third quarter

• Free cash flow(1) of $31.7 million for the quarter and $106.8 million for the year

• Corus suspends dividend; intends to redirect capital to debt repayment

Our fourth quarter results reflect ongoing weakness in the advertising economy further impacted by more recent distortions resulting from the WGA and SAG-AFTRA strikes that persisted much longer than anticipated," said Doug Murphy, President and Chief Executive Officer. "We are focused on what we can control as we navigate through these challenges. We will prudently redirect capital from dividends to debt repayment. Our intense pursuit of efficiencies and improved productivity is resulting in significant expense reductions as we streamline our operating model and evolve our business into a multi-platform aggregator of premium video with leading cross platform monetization capabilities. Corus will benefit from a more normalized content supply in the quarters ahead with an improved cost structure as we await a concurrent improvement in the advertising economy."

[Maxmoe]

Man the shorts love you. Do they pay you or do you post FUD and bash for free? Alternatively, wow, for a guy that knows everything about shorts you a) play right into their hands and B) must have lost a personal fortune. Keep up the great work. 

[YassineNoBS]

You are one of them. You falsely flagged all of my posts as containing vulgarity and other false claims to get them removed and get my account banned. Short sellers are a bunch of shysters.