Cinemark (CNK) Reports Q2 Earnings: What Key Metrics Have to Say

Core Viewpoint - Cinemark Holdings (CNK) reported a significant decline in revenue and earnings for the quarter ended June 2024, with a year-over-year revenue drop of 22.1% and EPS decreasing from $0.80 to $0.32, although the revenue exceeded Wall Street expectations by 5.91% [1] Financial Performance - Revenue for the quarter was $734.2 million, compared to the Zacks Consensus Estimate of $693.22 million [1] - EPS of $0.32 represented a surprise of +357.14% over the consensus estimate of $0.07 [1] Key Metrics - Average ticket price in the U.S. Operating Segment was $9.88, exceeding the estimate of $9.79 [3] - Average ticket price in the International Operating Segment was $3.75, below the estimate of $4.06 [3] - Concession revenues per patron in the U.S. Operating Segment were $7.95, slightly above the estimate of $7.85 [3] Attendance and Revenue Breakdown - Attendance in the International Operating Segment reached 20.9 million, surpassing the estimate of 18.71 million [4] - Revenue from International Admissions was $78.40 million, exceeding the estimate of $75.92 million, but reflecting a year-over-year decline of 25.3% [5] - Revenue from U.S. Admissions was $287.40 million, above the estimate of $271.33 million, with a year-over-year decline of 23% [6] - Revenue from U.S. Other was $53.20 million, exceeding the estimate of $47.39 million, with an 18.4% decline year-over-year [7] - Revenue from U.S. Concessions was $231.40 million, above the estimate of $217.50 million, reflecting a 21.9% decline year-over-year [8] - Revenue from International Other was $22.30 million, exceeding the estimate of $20.07 million, with an 11.9% decline year-over-year [9] - Total revenue from Admissions was $365.80 million, above the estimate of $349.10 million, with a year-over-year decline of 23.5% [10] - Revenue from Other was $75.50 million, exceeding the estimate of $70.15 million, reflecting a 16.6% decline year-over-year [11] - Revenue from Concessions was $292.90 million, above the estimate of $273.97 million, with a year-over-year decline of 21.6% [12] Stock Performance - Cinemark shares have returned +8.1% over the past month, contrasting with the Zacks S&P 500 composite's -0.4% change [12] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [12]