Gold prices cool after hitting over 2-week high on Fed independence fears
PLANO, Texas - On Friday, Cinemark Holdings (NYSE:CNK) reported second-quarter revenue that fell short of analyst expectations, despite significant box office growth during the period.
The movie theater chain’s shares dropped 2.31% in pre-market trading after the release.
The company posted revenue of $940.5 million, slightly below the consensus estimate of $942.98 million, though this represented a 28.1% increase from the same period last year. Adjusted earnings per share came in at $0.63, compared to $0.71 in the year-ago quarter.
Admissions revenue surged 27.7% to $467.1 million, driven by a 15.8% increase in attendance to 57.9 million patrons. The average ticket price rose 10.2% to $8.07, while concession revenue per patron increased 11.3% to $6.52.
U.S. attendance jumped 26.8% to 36.9 million patrons, while international attendance remained relatively flat at 21.0 million. The company’s operating margin expanded to 18.4% from 11.3% in the year-ago quarter.
Cinemark maintained its strong liquidity position with $931.6 million in cash and cash equivalents as of June 30. The company also paid a quarterly dividend of $0.08 per share during the period, continuing the dividend program reinstated earlier this year.
Looking ahead, Cinemark is preparing to settle its $460 million convertible notes due in August 2025, with plans to repay the principal amount in cash while settling any amounts above the principal in shares.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.