Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today reported results for the three and twelve months ended December 31, 2022.

Cinemark Holdings, Inc.’s total revenue for the three months ended December 31, 2022 decreased 10% to $599.7 million compared with $666.7 million for the three months ended December 31, 2021. For the three months ended December 31, 2022, admissions revenue was $304.6 million and concession revenue was $225.7 million, driven by attendance of 39.2 million patrons. Average ticket price was $7.77 and concession revenue per patron was $5.76.

Net loss attributable to Cinemark Holdings, Inc. for the three months ended December 31, 2022 was $(99.3) million compared with net income of $5.7 million for the three months ended December 31, 2021. Diluted loss per share for the three months ended December 31, 2022 was $(0.82) compared with diluted earnings per share of $0.05 for the three months ended December 31, 2021.

Adjusted EBITDA for the three months ended December 31, 2022 was $73.5 million compared with $139.4 million for the three months ended December 31, 2021. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at https://ir.cinemark.com.

“This past year represented another positive step forward for the theatrical exhibition industry’s recovery from the pandemic,” stated Sean Gamble, Cinemark’s President & CEO. “Sustained consumer enthusiasm to view movies and events in an immersive, larger-than-life, theatrical setting was validated time and again throughout 2022 across all genres, audience segments, and periods of the year.”

“For Cinemark, 2022 marked a series of important results and milestones that exemplified our improved financial stability and outsized recovery relative to our industry and peers. Of particular significance, we ended the year with a sizable increase in worldwide revenue and Adjusted EBITDA, generating $25M of positive free cash flow.”

“We remain highly optimistic about the many opportunities that lie ahead for our company, and as our industry continues to recover, Cinemark is poised to excel on account of our advantaged financial position, industry-leading operating capabilities, and sensational team.”

Cinemark Holdings, Inc.’s total revenue for the twelve months ended December 31, 2022 increased 62.5% to $2,454.7 million compared with $1,510.5 million for the twelve months ended December 31, 2021. For the twelve months ended December 31, 2022, admissions revenue was $1,246.9 million and concession revenue was $938.3 million, driven by attendance of 172.7 million patrons. Average ticket price was $7.22 and concession revenue per patron was $5.43.

Net loss attributable to Cinemark Holdings, Inc. for the twelve months ended December 31, 2022 was $(271.2) million compared with a net loss of $(422.8) million for the twelve months ended December 31, 2021. Diluted loss per share for the twelve months ended December 31, 2022 was $(2.26) compared with diluted loss per share of $(3.55) for the twelve months ended December 31, 2021.

Adjusted EBITDA for the twelve months ended December 31, 2022 was $336.5 million compared with $80.0 million for the twelve months ended December 31, 2021. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at https://ir.cinemark.com.

As of December 31, 2022, the Company’s aggregate screen count was 5,847, and the Company had commitments to open one new theatre and 4 screens during the remainder of 2023 and 6 new theatres and 51 screens subsequent to 2023.

For the full report, see here.

About Cinemark Holdings, Inc.
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, as of December 31, 2022 operated 518 theatres with 5,847 screens in 42 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD – the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to https://ir.cinemark.com.