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Cinemark Holdings, Inc. Reports Record Revenues, Net Income, Adjusted EBITDA and EPS for the Second Quarter of 2018

August 8, 2018

PLANO, Texas--(BUSINESS WIRE)--Aug 8, 2018--Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today reported results for the three and six months ended June 30, 2018.

Cinemark Holdings, Inc.’s total revenues for the three months ended June 30, 2018 increased 18.3% to $889.0 million compared to $751.2 million for the three months ended June 30, 2017. For the three months ended June 30, 2018, admissions revenues increased 13.1% to $508.9 million and concession revenues increased 16.4% to $305.3 million. For the three months ended June 30, 2018, attendance increased 10.1% to 76.4 million patrons, average ticket price increased 2.8% to $6.66 and concession revenues per patron increased 5.8% to $4.00.

Net income attributable to Cinemark Holdings, Inc. for the three months ended June 30, 2018 was $82.1 million compared to $51.2 million for the three months ended June 30, 2017. Diluted earnings per share for the three months ended June 30, 2018 was $0.70 compared to $0.44 for the three months ended June 30, 2017.

Adjusted EBITDA for the three months ended June 30, 2018 increased 29.8% to $221.6 million compared to $170.7 million for the three months ended June 30, 2017. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

Mark Zoradi, Cinemark’s Chief Executive Officer, stated, “We are thrilled to have delivered multiple records across all revenue categories, net income, and Adjusted EBITDA. I commend our Cinemark team for capitalizing on second quarter film content strength and continuing to advance our strategic initiatives to achieve these results. Given the all-time high box office that the North American industry celebrated in the second quarter and first half of the year, we remain bullish on full-year 2018 box office potential, while our enthusiasm for the 2019 film slate continues to grow.”

Cinemark Holdings, Inc.’s total revenues for the six months ended June 30, 2018 increased 9% to $1,669.0 million compared to $1,530.8 million for the six months ended June 30, 2017. For the six months ended June 30, 2018, admissions revenues increased 3.8% to $961.5 million and concession revenues increased 6.9% to $567.1 million. For the six months ended June 30, 2018, attendance increased 0.8% to 144.9 million patrons, average ticket price increased 2.9% to $6.64 and concession revenues per patron increased 6.0% to $3.91.

Net income attributable to Cinemark Holdings, Inc. for the six months ended June 30, 2018 was $144.2 million compared to $131.0 million for the six months ended June 30, 2017. Diluted earnings per share for the six months ended June 30, 2018 was $1.23 compared to $1.12 for the six months ended June 30, 2017.

Adjusted EBITDA for the six months ended June 30, 2018 increased 8.5% to $415.0 million compared to $382.6 million for the six months ended June 30, 2017. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

As of June 30, 2018, the Company’s aggregate screen count was 5,998 and the Company had commitments to open 8 new theatres and 59 screens during the remainder of 2018 and 16 new theatres and 146 screens subsequent to 2018.

Conference Call/Webcast – Today at 8:30 AM ET

Telephone: via 800-374-1346 or 706-679-3149 (for international callers).

Live Webcast/Replay: Available live at investors.cinemark.com. A replay will be available following the call and archived for a limited time.

About Cinemark Holdings, Inc.

Cinemark is a leading domestic and international motion picture exhibitor, operating 539 theatres with 5,998 screens in 41 U.S. states, Brazil, Argentina and 13 other Latin American countries as of June 30, 2018. For more information go to investors.cinemark.com.

Forward-looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The “forward-looking statements” include our current expectations, assumptions, estimates and projections about our business and our industry. They include statements relating to future revenues, expenses and profitability, the future development and expected growth of our business, projected capital expenditures, attendance at movies generally or in any of the markets in which we operate, the number or diversity of popular movies released and our ability to successfully license and exhibit popular films, national and international growth in our industry, competition from other exhibitors and alternative forms of entertainment and determinations in lawsuits in which we are defendants. You can identify forward-looking statements by the use of words such as “may,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “anticipates,” “believes,” “plans,” “expects,” “future” and “intends” and similar expressions which are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. In evaluating forward-looking statements, you should carefully consider the risks and uncertainties described in the “Risk Factors” section or other sections in the Company’s Annual Report on Form 10-K filed February 23, 2018. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. We undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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