Cinemark(CNK)
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Cinemark(CNK) - 2022 Q1 - Earnings Call Transcript
2022-05-06 16:19
Financial Data and Key Metrics Changes - Cinemark reported a year-over-year revenue growth of over 300% in Q1 2022, with total revenue reaching $460.5 million and adjusted EBITDA of $25.2 million, marking the third consecutive quarter of positive adjusted EBITDA generation [6][33] - Attendance was 33.1 million patrons in Q1 2022, with domestic admissions revenue of $191.8 million and an average ticket price of $9.27 [33][34] - The company experienced a net loss of $74 million, resulting in a loss per share of $0.62, while capital expenditures were $18.7 million [40][41] Business Line Data and Key Metrics Changes - Domestic concessions revenue was $141.1 million with a record high per cap of $6.82, reflecting a 250 basis point increase in core concession incidence rates quarter-over-quarter [35][27] - International operations generated $88.5 million in total revenue, with adjusted EBITDA of $10.8 million and an adjusted EBITDA margin of 12.2% [36][37] - The company’s premium large-format auditoriums accounted for over 14% of global box office in Q1, despite representing only 5% of the global screen count [26] Market Data and Key Metrics Changes - Cinemark outperformed the North American industry recovery by 650 basis points when comparing Q1 2022 against Q1 2019, while Latin American admissions surpassed industry results by approximately 500 basis points [22][23] - Consumer sentiment regarding movie-going improved, with 87% of moviegoers expressing comfort returning to theaters [11][10] - The company noted that the film landscape remains dynamic, with several titles shifting release dates due to COVID-related production delays [12] Company Strategy and Development Direction - Cinemark is focused on enhancing guest experiences through investments in technology, premium amenities, and food and beverage offerings [30][31] - The company aims to capitalize on the box office momentum by providing a diverse range of content and improving marketing sophistication [31][29] - Strategic initiatives include expanding premium large formats and D-BOX seats, as well as enhancing loyalty programs to drive movie-going frequency [26][29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the continued recovery of the box office, supported by a robust slate of upcoming films [32][14] - The company acknowledged challenges posed by inflation and rising costs but emphasized the importance of strategic pricing actions to offset these pressures [41][53] - Management highlighted the importance of theatrical releases for studios, noting that films released theatrically perform better on streaming platforms [20][21] Other Important Information - The company is transitioning its entire global circuit to Cinionic laser projectors to enhance the movie-going experience and achieve cost savings [24] - The Movie Club program has grown to 980,000 members, contributing 20% of the first quarter box office [29][59] Q&A Session Summary Question: Strategy in live events - Management indicated a range of scenarios for live events, including partnerships with companies like Fathom and Trafalgar, and hosting their own events [43][44] Question: Normalization of average ticket price and concession per caps - Management expects some normalization as the film content and audience mix diversify, but anticipates maintaining a portion of the growth seen during the pandemic [46][48] Question: Impact of consumer inflation on pricing actions - Management is cautious about inflation and is leveraging data for a more dynamic pricing model to offset cost pressures [52][53] Question: Trends in international markets - Latin America has made significant progress in recovery, with consumer enthusiasm improving and capacity restrictions largely lifted [56][57] Question: Movie Club statistics - The Movie Club has generated 20% of box office revenue in Q1, with over 77 million tickets sold since its inception [59] Question: Construction environment for new theaters - Development is picking up but remains slower than pre-pandemic levels, with ongoing projects from before the pandemic still in progress [60][61] Question: Staffing challenges - Staffing levels normalized in Q1, with the company ramping up hiring for the summer season, while wage rates have increased to attract and retain employees [63][66]
Cinemark(CNK) - 2022 Q1 - Earnings Call Presentation
2022-05-06 10:40
1 CINEMARK。 Investor Presentation May 6, 2022 Forward Looking Statements CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS PURSUANT TO THE U.S. PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This presentation contains, and our officers and representatives may from time to time make, "forward–looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The "forward looking statements" can be identified by words such as "may," "should ...
Cinemark(CNK) - 2022 Q1 - Quarterly Report
2022-05-05 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-33401 | --- | --- | |-------------------------------------------------------------------------------------------|-----------------------------------------------------| | | ...
Cinemark(CNK) - 2021 Q4 - Earnings Call Presentation
2022-03-02 13:46
1 CINEMARK。 Investor Presentation February 25, 2022 Forward Looking Statements CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS PURSUANT TO THE U.S. PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This presentation contains, and our officers and representatives may from time to time make, "forward–looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The "forward looking statements" can be identified by words such as "may," " ...
Cinemark(CNK) - 2021 Q4 - Earnings Call Transcript
2022-02-25 19:41
Financial Data and Key Metrics Changes - In Q4 2021, Cinemark reported total revenue of $666.7 million, with adjusted EBITDA of $139.4 million and operating cash flow of $208 million, marking significant recovery compared to previous quarters [39][52] - Adjusted EBITDA for the full year reached $80 million, with a positive cash flow generated in both the U.S. and Latin America during Q4 [12][39] - The company achieved a net income of $5.7 million, resulting in earnings per share of $0.05, indicating a positive milestone since the pandemic [52] Business Line Data and Key Metrics Changes - U.S. attendance rebounded to 31.2 million patrons in Q4, a 45% increase over Q3 2021, with domestic admissions revenue reaching $287.3 million [40][41] - International attendance grew by 84% quarter-over-quarter to 16.9 million patrons, with total international revenue of $115 million [45] - Domestic concessions revenue was $207.8 million, achieving 90% of Q4 2019 levels, with a per capita spend of $6.66 [42][39] Market Data and Key Metrics Changes - Cinemark's global attendance in Q4 was 48.1 million, reflecting a 57% increase compared to Q3 2021 [10] - The company outperformed the North American industry box office recovery by over 700 basis points when comparing Q4 2021 results against Q4 2019 [11] - Latin American admissions also exceeded corresponding industry results by a similar margin [11] Company Strategy and Development Direction - The company aims to maximize attendance and box office while pursuing ancillary revenue opportunities, focusing on navigating the ongoing pandemic and reigniting theatrical exhibition [14][15] - Strategic initiatives include enhancing digital marketing capabilities, expanding food and beverage offerings, and optimizing pricing strategies [31][34] - The company is committed to providing an extraordinary guest experience and optimizing its footprint for sustained long-term returns [32][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of theatrical movie-going, citing improved consumer sentiment and easing government restrictions [19][37] - The company anticipates a strong film slate for 2022, although Q1 results may be impacted by a lighter film release calendar due to the Omicron variant [53] - Management acknowledged inflationary pressures on costs but emphasized the affordability of movie-going compared to other entertainment options [92][94] Other Important Information - The Movie Club program has seen a resurgence, with membership nearing pre-pandemic levels at approximately 940,000 members [27] - The company has implemented new health and safety protocols and streamlined operational practices to enhance efficiency and guest satisfaction [16][17] Q&A Session Summary Question: Conversations with studios regarding exhibition windows - Management noted ongoing discussions with studios, with most larger films expected to have a 45-day exclusive window [58] Question: Impact of larger films on business - Management acknowledged a trend towards larger films dominating box office revenue but expressed optimism about the potential for smaller films to return to theaters [59][60] Question: Market share gains in Q4 - Management attributed market share gains to investments in amenities and marketing efforts, alongside the closure of some Canadian markets [63] Question: Sustainability of adjusted EBITDA margins - Management indicated that box office recovery and average ticket prices will be key drivers for sustaining adjusted EBITDA margins above 20% [64][65] Question: International market recovery - Management confirmed that Latin American markets are recovering faster than expected, aided by improved vaccination rates [68] Question: Dynamic pricing strategies - Management is exploring dynamic pricing strategies to optimize ticket and concession pricing based on various factors [77] Question: Consumer impact of inflation - Management noted that movie-going tends to remain resilient during economic downturns, with no significant signs of consumer hesitance observed [92][94]
Cinemark(CNK) - 2021 Q4 - Annual Report
2022-02-24 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______ TO ______ Commission File Number 001-33401 CINEMARK HOLDINGS, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 20-5490327 (State or other j ...
Cinemark(CNK) - 2021 Q3 - Earnings Call Presentation
2021-11-09 18:42
1 Investor Presentation November 5, 2021 Forward Looking Statements FORWARD LOOKING STATEMENTS: Certain matters within this presentation include "forward–looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The "forward-looking statements" may include our current expectations, assumptions, estimates and projections about our business and our industry. They may include statements relating to the pr ...
Cinemark(CNK) - 2021 Q3 - Earnings Call Transcript
2021-11-05 17:23
Cinemark Holdings, Inc. (NYSE:CNK) Q3 2021 Earnings Conference Call November 5, 2021 8:30 AM ET Company Participants Chanda Brashears - Senior Vice President, Investor Relations Mark Zoradi - Chief Executive Officer Sean Gamble - President and Chief Financial Officer Conference Call Participants Alexia Quadrani - JPMorgan Eric Handler - MKM Partners Meghan Durkin - Credit Suisse Steven Cahall - Wells Fargo Robert Fishman - MoffettNathanson Jim Goss - Barrington Research Alan Gould - Loop Capital Operator Go ...
Cinemark(CNK) - 2021 Q3 - Quarterly Report
2021-11-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-------------------------------------------------------------------|---------------------------------| | | | | Commission File Number: | 001-33401 | | CINEMARK HOLDINGS, INC. (Exact ...
Cinemark(CNK) - 2021 Q2 - Earnings Call Transcript
2021-08-06 19:00
Cinemark Holdings, Inc. (NYSE:CNK) Q2 2021 Earnings Conference Call August 6, 2021 8:30 AM ET Company Participants Chanda Brashears - Investor Relations Mark Zoradi - Chief Executive Officer Sean Gamble - Chief Financial Officer & Chief Operating Officer Conference Call Participants Eric Handler - MKM Partners Jordan Bender - Macquarie Research Alan Gould - Loop Capital Jim Goss - Barrington Research Robert Fishman - MoffettNathanson Ben Swinburne - Morgan Stanley Meghan Durkin - Credit Suisse Operator Good ...