Quarterly ResultMay 7, 2026, 04:11 PM
Starz Reports Q1 Results: Operating Cash Flow $73.2M; Accelerates Margin Outlook
AI Summary
Starz Entertainment Corp. reported its first-quarter 2026 financial results, highlighting a structurally stronger company one year post-separation. The company delivered positive operating cash flow of $73.2 million and sequentially growing OTT revenue of $211.1 million and Adjusted OIBDA of $58.0 million. Management accelerated its 20% Adjusted OIBDA margin outlook to the second half of 2027, one year ahead of prior guidance, and reiterated all 2026 outlook targets.
Key Highlights
- Accelerated 20% Adjusted OIBDA margin outlook to H2 2027, one year ahead of prior guidance.
- Net cash provided by operating activities was $73.2 million, a $136.7 million YoY improvement.
- OTT revenue grew sequentially to $211.1 million.
- Adjusted OIBDA grew sequentially to $58.0 million.
- Unlevered free cash flow was $80.7 million and Equity free cash flow was $68.7 million.
- Reported total revenue of $306.9 million and an operating loss of $(152.8) million.
- Reiterated 2026 outlook: positive YoY OTT revenue growth and low-single-digit Adjusted OIBDA growth.
- Net debt stood at $523.0 million with an Adjusted OIBDA leverage ratio of 3.1x.