Cinemark(CNK) - 2025 Q1 - Quarterly Results

Financial Performance - Cinemark reported total revenue of $541 million for Q1 2025, a decrease of 6.6% compared to $579.2 million in Q1 2024[4] - The company experienced a net loss of $(39) million, or $(0.32) per share, compared to a net income of $24.8 million in the same quarter last year[5] - Adjusted EBITDA for the quarter was $36 million, with an Adjusted EBITDA margin of 6.7%[3] - Total revenue for Q1 2025 was $540.7 million, a decrease of 6.6% compared to $579.2 million in Q1 2024[18] - Adjusted EBITDA for Q1 2025 was $36.4 million, down 48.5% from $70.7 million in Q1 2024[20] - The net loss for Q1 2025 was $38.6 million, compared to a net income of $25.3 million in Q1 2024[22] Revenue Breakdown - Admissions revenue decreased by 8.9% to $264.1 million, while concession revenue fell by 6.2% to $210.4 million[4] - Admissions revenue decreased to $264.1 million in Q1 2025 from $289.8 million in Q1 2024, representing an 8.9% decline[18] - Film rentals and advertising costs were $141.4 million in Q1 2025, down from $154.3 million in Q1 2024, a decrease of 8.3%[18] - The average ticket price was $7.22, and concession revenue per patron reached $5.75[4] - Average ticket price increased to $7.22 in Q1 2025 from $7.30 in Q1 2024, indicating a slight decrease of 1.1%[18] - Concession revenue per patron rose to $5.75 in Q1 2025, up from $5.65 in Q1 2024, marking a 1.8% increase[20] Attendance and Market Share - Cinemark entertained 37 million moviegoers globally, surpassing North American industry recovery by 160 basis points year-over-year[3] - Attendance dropped to 36.6 million in Q1 2025, compared to 39.7 million in Q1 2024, reflecting a decrease of 7.8%[18] - The company maintained market share growth exceeding 100 basis points in the U.S. and Latin America compared to pre-pandemic levels[3] Capital and Future Outlook - Capital expenditures totaled $22.1 million in Q1 2025, a decrease from $23.5 million in Q1 2024, reflecting a decline of 6.0%[20] - The company paid its first dividend since the pandemic and executed $200 million in share repurchases, reducing outstanding shares by approximately 6.5%[2] - Future outlook remains positive with expectations of a favorable rebound in the industry and strong consumer enthusiasm for theatrical releases[2] Interest Expense - The company reported a significant increase in interest expense to $38.5 million in Q1 2025 from $37.7 million in Q1 2024[22]