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MKM Reviews The Weekend's Box Office Performance, Noting Weakness In 'Avengers'

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In a report published Monday, MKM Partners analyst Eric Handler commented on the weekend's box office performance, noting that Walt Disney Co (NYSE: DIS)'s "Avengers: Age of Ultron" once again "dominated" for the second straight weekend, but grossed only $77.2 million, short of the $90.0 million he was expecting.

The weekend's top 10 films grossed $118 million, short of the $129 million the analyst was expecting. The miss was largely attributed to "Age of Ultron," which may be falling victim to the success of its franchise predecessor and tracking 16 percent below the first "Avengers" film.

Meanwhile, "Hot Pursuit" opened to a "disappointing" $13.3 million, short of the analyst's $18.0 million. "Age of Adaline," "Furious 7" and "Paul Blart: Mall Cop 2" saw revenues of $5.6 million, $5.3 million and $5.2 million, respectively, versus Handler's estimates of $3.8 million, $4.0 million and $3.5 million.

The analyst also noted that IMAX Corporation (NYSE: IMAX)'s global box office revenue from "Avengers" is a reported $57 million -- $29 million domestically and $28 million internationally. The film opens in China on May 13 and the majority of IMAX screens are reportedly sold out for the opening day and half of the theaters are adding a 3 a.m. screening, Handler stated.

Finally, the analyst stated he is becoming "less confident" in his double digit growth outlook for the second quarter given "Avengers" underperformance. Upcoming "swing factor" releases include "Mad Max: Fury Road" (May 15), Tomorrowland" (May 22) and "Jurassic World" (June 12).

Latest Ratings for DIS

DateFirmActionFromTo
Sep 2019Initiates Coverage OnOutperform
Sep 2019MaintainsIn-Line
Aug 2019MaintainsIn-Line

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Posted-In: Age Of Adaline Age Of Ultron Avengers box office Eric Handler Furious 7Analyst Color Analyst Ratings

 

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