Cinemark(US:CNK)2024-05-02 10:40Financial 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].