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]

Cinemark Holdings Inc.’s stock CNK, +4.88% fell 1.8% early Friday, after the cinema operator’s fourth-quarter loss was wider than expected. Plano, Texas-based Cinemark posted a net loss of $18 million, or 15 cents a share, for the quarter, narrower than the loss of $99.3 million, or 82 cents a share, posted in the year-earlier period. Revenue rose 6.5% to $638.9 million. The FactSet consensus was for a loss of 7 cents and revenue of $620.0 million. Cinemark ended the quarter with 5,719 screens across the U ...

Theatre Operations - As of December 31, 2023, the company operated 501 theatres and 5,719 screens across the U.S. and Latin America, with 309 theatres and 4,324 screens in the U.S. and 192 theatres and 1,395 screens in Latin America[22]. - The company operates 293 XD auditoriums, the largest exhibitor-branded premium large format footprint in the world, along with 15 IMAX and six ScreenX auditoriums[38]. - The company has a significant presence in major cities in Latin America, being the largest exhibitor in Brazil and Argentina, and has theatres in 15 of the 20 largest metropolitan areas in the region[39]. - As of December 31, 2023, the company operated 192 theatres with 1,395 screens across 13 countries in Latin America, with Brazil contributing approximately 7.6% of consolidated 2023 revenue[72]. - As of December 31, 2023, the company operates 461 theatres, with 269 in the U.S. and 192 internationally[112]. Financial Performance - Total revenue for 2023 reached $3,066.7 million, a 24.9% increase from $2,454.7 million in 2022[150]. - Admissions revenue increased by 24.8% to $1,555.6 million in 2023, compared to $1,246.9 million in 2022[153]. - Concession revenue rose by 27.0% to $1,192.0 million in 2023, up from $938.3 million in 2022[153]. - The company reported an operating income of $362.9 million in 2023, a significant recovery from an operating loss of $89.8 million in 2022[150]. - The company’s revenues are historically seasonal, with higher earnings typically during summer months (May to July) and the holiday season (November to year-end)[55]. Market Trends - North American box office revenues for 2023 were approximately $9.1 billion, representing an increase of over 21% compared to 2022, primarily due to a higher volume of new film releases[24]. - Latin American box office revenues were approximately $2.4 billion for 2023, up more than 33% compared to 2022[28]. - The average video and digital release window for major films has decreased to around 45 days, which may impact theatre attendance if guests opt for in-home releases[71]. - The company’s results of operations are influenced by the quantity and quality of films shown, with fluctuations based on film release schedules[67]. - The Writers Guild of America strike in May 2023 and the SAG-AFTRA strike in July 2023 resulted in a decrease in film content released in 2023, impacting future film availability[66]. Competition and Market Position - The company ranked either first or second in box office revenues in 21 of its top 25 U.S. markets for the year ended December 31, 2023[38]. - The company competes with major U.S. exhibitors like Regal and AMC, and international competitors vary by country, including Cinépolis and Cine Colombia[53]. - The company faces intense competition from various entertainment forms, including streaming services and alternative film distribution channels, which could adversely affect attendance and revenue growth[70]. Customer Experience and Innovations - The company has transitioned approximately 14% of its auditoriums to new laser projectors and features Luxury Lounger heated recliner seats in 68% of its domestic circuit[32]. - The company offers advanced mobile concession ordering at virtually all U.S. theatres and in all Latin American theatres, enhancing customer convenience[32]. - The company’s domestic subscription membership program, Movie Club, offers monthly ticket credits and discounts, enhancing customer loyalty[52]. - The company has invested in technological innovations such as laser projectors and motion seats to remain competitive in the industry[100]. Cost Management and Economic Factors - Food and beverage costs have been particularly affected by inflationary pressures, especially for core commodities, prompting the company to seek alternative products and implement strategic pricing actions[48]. - Inflationary pressures and supply chain interruptions have impacted concession supplies expenses, which fluctuate with concession revenue and product mix[131]. - Labor shortages may hinder the company's ability to hire and retain employees, potentially leading to extended wait times and reduced operating hours[73]. - Legislative initiatives related to climate change may lead to increased operating costs for the company[101]. - The company is subject to risks related to currency fluctuations and governmental regulations in foreign markets, which could adversely affect international operations[72]. Debt and Financial Obligations - The company has significant long-term debt obligations totaling $2,432.1 million, including $1,972.1 million of CUSA debt, and $87.8 million in finance lease obligations[75]. - The company’s debt currently has a non-investment grade rating, which could increase future borrowing costs and limit access to capital[76]. - Total contractual obligations amount to $4,429.0 million, with long-term debt at $2,432.1 million[176]. - The company issued $460.0 million of 4.50% convertible senior notes, maturing on August 15, 2025[178]. - CUSA's obligations under the Credit Agreement are guaranteed by Holdings and certain subsidiaries, secured by interests in substantially all personal property[184]. Shareholder and Investment Information - Holdings owns 4.4 million shares of National Cinemedia, Inc. (NCMI), representing approximately 4.5% ownership, with revenues from NCMI of $44.1 million, $52.2 million, and $53.3 million for the years ended December 31, 2021, 2022, and 2023 respectively[90]. - Holdings suspended its dividend in March 2020 due to COVID-19 impacts, and it is uncertain when dividends will resume[88]. - Future sales of substantial amounts of Holdings' common stock could result in a decrease in stock price and dilute existing stockholders[89]. - The conversion of the 4.50% Convertible Senior Notes may dilute existing stockholders' ownership interests and could depress the price of Holdings' common stock[85]. Risk Management and Internal Controls - The company maintains insurance for cyber risks, but future events could result in costs exceeding available coverage[98]. - The Chief Technology Officer oversees the information security program, which includes various security measures and controls[110]. - The company has adopted a risk-based approach to cybersecurity, utilizing third-party security firms for assessments and technology[106]. - The company maintained effective internal control over financial reporting as of December 31, 2023, according to an independent audit[216].