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Cinemark
🇺🇸 NYSE:CNK
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•
Dec 31, 2023

Cinemark Q4 2023 Earnings Report

Cinemark reported a revenue increase driven by higher admissions and concession revenue, despite a net loss for the quarter.

Key Takeaways

Cinemark Holdings, Inc. reported a 6.5% increase in total revenue for the fourth quarter of 2023, reaching $638.9 million. Admissions revenue increased by 5.8% to $322.4 million, and concession revenue increased by 7.7% to $243.0 million. The company entertained 40.6 million patrons during the quarter. However, Cinemark reported a net loss of $(18.0) million, or $(0.15) per share.

Total revenue increased by 6.5% to $638.9 million compared to the same period last year.

Admissions revenue grew by 5.8% to $322.4 million, driven by a 3.6% increase in attendance.

Concession revenue increased by 7.7% to $243.0 million, with concession revenue per patron at $5.99.

Net loss attributable to Cinemark Holdings, Inc. was $(18.0) million, or $(0.15) per share.

Total Revenue
$639M
Previous year: $600M
+6.5%
EPS
-$0.15
Previous year: -$0.82
-81.7%
Average Ticket Price
$7.94
Concession Revenue per Patron
$5.99
Adjusted EBITDA
$79.6M
Previous year: $73.5M
+8.3%
Gross Profit
$79.9M
Previous year: $386M
-79.3%
Cash and Equivalents
$849M
Previous year: $14.9M
+5598.7%
Free Cash Flow
$48.7M
Total Assets
$4.84B

Cinemark

Cinemark

Cinemark Revenue by Segment

Cinemark Revenue by Geographic Location

Forward Guidance

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information currently available as well as management’s assumptions and beliefs today. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the statements, and investors should not place undue reliance on them.

Positive Outlook

  • future revenues, expenses and profitability
  • the future development and expected growth of our business
  • projected capital expenditures
  • access to capital resources
  • national and international growth in our industry

Challenges Ahead

  • currency exchange rate and inflationary impacts
  • attendance at movies generally or in any of the markets in which we operate
  • the number and diversity of popular movies released, the length of exclusive theatrical release windows, and our ability to successfully license and exhibit popular films
  • competition from other exhibitors, alternative forms of entertainment and content delivery via streaming and other formats
  • determinations in lawsuits in which we are a party

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Cinemark