Financial Performance - Cinemark Holdings, Inc. reported total revenue of $579.2 million for Q1 2024, a decrease of 5.2% compared to $610.7 million in Q1 2023[10]. - Admissions revenue decreased by 6.8% to $289.8 million, while concession revenue decreased by 4.9% to $224.2 million, driven by a 7.5% decrease in attendance to 39.7 million patrons[10]. - Adjusted EBITDA for Q1 2024 was $70.7 million, down from $86.2 million in Q1 2023, resulting in a 12.2% Adjusted EBITDA margin[15][17]. - Net income attributable to Cinemark Holdings, Inc. was $24.8 million for Q1 2024, compared to a loss of $(3.1) million in Q1 2023[21]. - Total revenue for Q1 2024 was reported at $579 million, a decrease of 5.1% compared to $610.7 million in Q1 2023[34]. - Net income for Q1 2024 was $25 million, with diluted earnings per share of $0.19, compared to a net loss of $2.5 million in Q1 2023[33]. - Adjusted EBITDA for Q1 2024 was $71 million, representing a margin of 12.2%[34]. - Admissions revenue decreased to $231.8 million in Q1 2024 from $244.7 million in Q1 2023, a decline of 5.9%[32]. - Concession revenue also fell to $178.6 million in Q1 2024, down from $186.8 million in Q1 2023, a decrease of 4.4%[32]. Attendance and Market Presence - The company entertained 40 million moviegoers across its global footprint during the quarter[20]. - The average ticket price decreased to $23.6 in Q1 2024 from $25.2 in Q1 2023[32]. - The worldwide average ticket price was $7.30, and concession revenue per patron was $5.65 during the quarter[10]. - Concession revenue per patron increased to $7.57 in Q1 2024 from $7.41 in Q1 2023[32]. - The company operated 502 theatres with 5,708 screens across 42 states and 13 countries as of March 31, 2024[35]. Cash and Debt Management - As of March 31, 2024, Cinemark had cash and cash equivalents of $788.6 million, down from $849.1 million at the end of 2023[7]. - The company maintained a cash balance of $789 million at the end of Q1 2024[34]. - Total long-term debt as of March 31, 2024, was $2,399.4 million, slightly up from $2,399.1 million at the end of 2023[7]. - Cinemark redeemed the remaining $150 million of COVID-related senior secured notes, reflecting a positive long-term outlook for the company[27]. - Cinemark redeemed $150 million of COVID-related senior secured notes on May 1, 2024, ahead of their maturity in May 2025[34]. Expansion Plans - The company plans to open 3 new theatres and 33 screens over the next two years, expanding its market presence[4].

Cinemark Holdings (CNK) shares ended the last trading session 5.4% higher at $19.77. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.3% gain over the past four weeks.Shares of Cinemark jumped, after an analyst at Wells Fargo upgraded the company’s rating. Per the report, the analyst raised his rating from underweight to overweight, citing the many planned movies of the year. He believes that the Cinemark stock pr ...

Cinemark (NYSE: CNK) stock price has continued to trounce AMC this year. It has jumped by a whopping 42%, beating the S&P 500 and Nasdaq 100 indices, which are up by about 10%. Notably, Cinemark has completely diverged from AMC, which has bottomed to a record low amid a series of equity raises.Analysts are optimistic about AMC Copy link to section Cinemark share price has been in a strong bullish trend since December. It has jumped by 139%, making it one of the best-performing companies in Wall Street. The ...

Cinemark (NYSE:CNK) stock is in the news Friday after the movie theater chain was granted a rare double upgrade from Wells Fargo analyst Steven Cahall.The Wells Fargo analysts bumped shares of CNK stock up from an “underweight” rating to an “overweight” rating. That’s worth noting as the analysts’ consensus rating for CNK shares is hold based on 10 opinions.To go along with that upgrade, Cahall increased the firm’s price target for CNK stock from $13 per share to $23 per share. That’s a potential upside of ...

Wells Fargo doled out a double upgrade for Cinemark Holdings, Inc. (NYSE:CNK) to "overweight" from "underweight" and hiked its price target to $23 from $13. The analyst in question cited improved performance and strong demand. CNK is up 3.9% at $19.50 before the open.Today's pop has shares looking to open at their highest level since October and push above recent pressure near the $19 level. The equity bounced off the $17.60 floor earlier this month and so far this year has added 33.1%.Analysts are still sp ...

PLANO, Texas--(BUSINESS WIRE)--Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today announced participation at the following institutional investor conference: Tuesday, March 19: 36th Annual Roth MKM Investor Conference in Dana Point, CA Melissa Thomas, CFO, and Chanda Brashears, SVP Investor Relations 1:1 investor meetings Fireside chat at 10:30 am PT https://wsw.com/webcast/roth48/cnk/1672060 About Cinemark Holdings, Inc.: Cinemark Holdings, Inc ...

I wasn't at my local movie theater over the holiday weekend, and I'm guessing that you weren't, either. Domestic ticket sales clocked in at $92.3 million for the four-day holiday window, 45% lower than the industry's box-office receipts a year earlier. Based on the industry average admission price, less than 3% of the country went to a multiplex during the extended weekend.Things were far worse a week earlier when $29.1 million in tickets were sold. Super Bowl weekend can be challenging for exhibitors, but ...

For the quarter ended December 2023, Cinemark Holdings (CNK) reported revenue of $638.9 million, up 6.5% over the same period last year. EPS came in at -$0.15, compared to -$0.82 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $619.8 million, representing a surprise of +3.08%. The company delivered an EPS surprise of +6.25%, with the consensus EPS estimate being -$0.16.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Cinemark Holdings (CNK) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.82 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.25%. A quarter ago, it was expected that this movie theater owner would post earnings of $0.47 per share when it actually produced earnings of $0.61, delivering a surprise of 29.79%.Over the last four quarters, the comp ...

Financial Data and Key Metrics Changes - In 2023, the company entertained 210 million guests globally and generated $3.1 billion in revenue, a 25% increase year-over-year, with the highest concession sales recorded, 3% higher than 2019 [27][28] - Adjusted EBITDA grew 77% from 2022 to $594 million, with a margin rate of 19.4%, representing a 570 basis points margin expansion [28] - Free cash flow for the year was $295 million, with a positive net cash generation of $175 million after paying down over $100 million of COVID-related debt [29][107] Business Line Data and Key Metrics Changes - Domestic segment revenue grew 7% year-over-year to $518.8 million, with adjusted EBITDA increasing 15% to $68.5 million [18] - International segment revenue increased 5% to $120.1 million, with adjusted EBITDA of $11.1 million, yielding a 9.2% adjusted EBITDA margin [45] Market Data and Key Metrics Changes - North American box office grew 21% year-over-year, reaching $9.1 billion in 2023, driven by diverse studio hits [7][34] - Film volume grew to 110 wide releases, reaching 85% of pre-pandemic levels, up from 65% in 2022 [8] Company Strategy and Development Direction - The company is focusing on enhancing guest experiences through premium amenities and optimizing its circuit, including the addition of new theaters and the closure of low-performing ones [3][4][5] - The company reactivated its new build development pipeline and plans to open two new family entertainment center concepts by the end of 2023 [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future of the industry and the company, despite anticipated headwinds in 2024 due to reduced film volume from Hollywood strikes [10][86] - The company remains focused on strengthening its financial position while investing in long-term growth opportunities [107] Other Important Information - The company achieved a record high average ticket price of $10.21 in Q4 2023, driven by strategic pricing initiatives and successful film releases [15] - The company reported a net loss of $18 million in Q4 2023, resulting in a diluted loss per share of $0.15, while for the full year, net income was $188.2 million with diluted earnings per share of $1.34 [53] Q&A Session Summary Question: Expectations on average ticket prices or per cap levels in the coming year - Management expects moderate growth in food and beverage per caps year-over-year, driven by initiatives to maximize food and beverage incidents [61][63] Question: Clarification on the 95 film expectation for 2024 - Management anticipates about 90 titles currently, assuming an additional five films will be added, but acknowledges potential impacts from Hollywood strikes [65][66] Question: Timing for reinstating the dividend - Management indicated that reinstating the dividend is a key consideration, but timing depends on sustaining the net leverage ratio within the target range [67][117] Question: Impact of Taylor Swift concert film on average ticket price and concessions per cap - The concert film positively impacted average ticket price by $0.50 and concession per cap by $0.14 in Q4 2023 [94][95] Question: Relationship with streamers and new working models - Management is focused on developing mutually beneficial working models with streamers, similar to traditional studio partnerships [73][124]