Thursday, May 13, 2021

Eros STX Global Corporation (ESGC) Stock Price Suffer Amidst Pandemic

Eros STX Global Corporation (ESGC) stock prices were down to USD$1.2 as of market close on April 20th, 2021, having dropped by a demoralizing 16.67% throughout the day.


5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored



Disclosure of 2020 Financials

April 1st, 2021 saw ESGC release its unaudited consolidated financials for the six-month period ended September 20th, 2020. Complete and audited financial statements for the period are expected to be issued by April 30th, 2021.

2020 Fiscal Report


A Backdoor Way To Profit From Today’s Crypto Bull Market

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .

Sponsored


Revenues reported for the six-month period ended September 30th, 2020 were USD$144 million, as compared to the USD$210 million reported in the same period of the previous year. The onset of the global pandemic is largely to blame for this decrease, on account of the unprecedented reduction in releases of global films. Fortunately for ESGC, revenue growth from the STX film library served to moderate the devastating financial effects of the pandemic.

Operating Cost Variance

With the pandemic also severely affecting marketing and distribution, operating costs for the six-month period ended September 30th, 2020 were USD$152 million, with USD$18 million being merger-related costs. Operating costs in the same pre-pandemic period of the previous year were USD$276 million.

Comparative Operating Profits

Operating profit came in at USD$10 million, with merger-related costs totaling USD$17 million to culminate in an operating loss of USD$7 million. This is compared to the UD$65 million reported in operated loss by ESGC.

ESGC’s Financial Situation

With a total debt of USD$384 being reported as of September 30th, 2020 with USD$82 million in cash on hand, ESGC’s net debt balance ending the fiscal year 2021 is expected to be less than USD$325 million, as per the guidance provided on November 4th, 2020 on an investor call. In order to consolidate their balance sheet, ESGC hopes to work with J.P. Morgan to optimize its debt facilities as they stand and to extend ESGC maturities.

Scope of ESGC

With global vaccinations for COVID underway, ESGC hopes for a return to pre-pandemic media engagement soon so it can capitalize on its presence in more than 150 countries. Eros Now, the company’s OTT platform, alone has rights to more than 12,000 films in various languages, with a user base of 211.5 million registered users and 36.2 million users with a paid subscription as of September 30th, 2020.

Future Outlook of ESGC

Investors are wary of the timeline of vaccine deployment and the longer-lasting consequences of the pandemic, but maintain a hopeful eye on the media giant in light of their developments during the pandemic. Once the crippling effects of government mandated lockdowns eases, investors are hoping for a surge in shareholder value.

Latest news

What is behind the fall of Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock?

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), a growth oil and gas exploration company specializing in the acquisition and development of highly profitable domestic oil...

Eros STX Global Corporation (ESGC) stock is declining: Here is the reason why?

Eros STX Global Corporation (NYSE ESGC) a global multinational media company that acquires, produces, and distributes films, television shows, and digital content issued its...

Yum China Holdings Inc. (YUMC): The Most Important Numbers You Should Know

Yum China Holdings Inc. (YUMC), which operates Taco Bell Restaurants, KFC Restaurants, and Pizza Hut Restaurants in China, has published its first-quarter report for...

Why shares of Akerna Corp. (KERN) stock are up today?

Akerna (KERN), a cannabis technology company focusing to connect data points in the global cannabis supply chain and developer of the cannabis industry's first...

Related news

What is behind the fall of Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock?

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), a growth oil and gas exploration company specializing in the acquisition and development of highly profitable domestic oil...

Eros STX Global Corporation (ESGC) stock is declining: Here is the reason why?

Eros STX Global Corporation (NYSE ESGC) a global multinational media company that acquires, produces, and distributes films, television shows, and digital content issued its...

Yum China Holdings Inc. (YUMC): The Most Important Numbers You Should Know

Yum China Holdings Inc. (YUMC), which operates Taco Bell Restaurants, KFC Restaurants, and Pizza Hut Restaurants in China, has published its first-quarter report for...

Why shares of Akerna Corp. (KERN) stock are up today?

Akerna (KERN), a cannabis technology company focusing to connect data points in the global cannabis supply chain and developer of the cannabis industry's first...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.