Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today reported results for the three months ended March 31, 2019.
Cinemark Holdings, Inc.’s total revenues for the three months ended March 31, 2019 were $714.7 million compared to $780.0 million for three months ended March 31, 2018. For the three months ended March 31, 2019, admissions revenues were $395.5 million and concession revenues were $251.3 million. For the three months ended March 31, 2019, attendance was 62.3 million patrons, average ticket price was $6.35 and concession revenues per patron increased 5.5% to $4.03.
Net income attributable to Cinemark Holdings, Inc. for the three months ended March 31, 2019 was $32.7 million compared to $62.0 million for the three months ended March 31, 2018. Diluted earnings per share for the three months ended March 31, 2019 was $0.28 compared to $0.53 for three months ended March 31, 2018.
Adjusted EBITDA for the three months ended March 31, 2019 was $152.3 million compared to $193.4 million for three months ended March 31, 2018. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.
“We are pleased to report that our domestic operations again surpassed the North American industry’s year-over-year box office results by a sizeable 450 basis points, extending our outperformance trend to 36 out of the past 41 quarters,” stated Mark Zoradi, Cinemark Chief Executive Officer. “While, as anticipated, industry box office declined in the first quarter based on film release timing, we are extremely optimistic about the potential for another record year considering the strength of content to come. And with the sustained execution of our guest-centric initiatives, Cinemark remains well positioned to capitalize on that content for the remainder of 2019 and beyond.”
As of March 31, 2019, the Company’s aggregate screen count was 6,051 and the Company had commitments to open eleven new theatres and 104 screens during the remainder of 2019 and thirteen new theatres and 126 screens subsequent to 2019.
About Cinemark Holdings, Inc.
Cinemark is a leading domestic and international motion picture exhibitor, operating 547 theatres with 6,051 screens in 41 U.S. states, Brazil, Argentina and 13 other Latin American countries as of March 31, 2019. For more information go to investors.cinemark.com.