Cinemark Holdings, Inc. Reports Record Global Revenues of $821.8 Million for the Third Quarter Of 2019

(November 5, 2019) – Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today reported results for the three and nine months ended September 30, 2019.

Cinemark Holdings, Inc.’s total revenues for the three months ended September 30, 2019 increased 9.0% to a record $821.8 million from $754.2 million for the three months ended September 30, 2018. For the three months ended September 30, 2019, admissions revenues increased 6.3% to $454.5 million and concession revenues increased 9.6% to $289.5 million. For the three months ended September 30, 2019, attendance increased 5.0% to 73.3 million patrons, average ticket price increased 1.1% to $6.20 and concession revenues per patron increased 4.5% to $3.95.

Net income attributable to Cinemark Holdings, Inc. for the three months ended September 30, 2019 was $31.4 million compared to $50.2 million for the three months ended September 30, 2018. Diluted earnings per share for the three months ended September 30, 2019 was $0.27 compared to $0.43 for the three months ended September 30, 2018.

Adjusted EBITDA for the three months ended September 30, 2019 increased to $169.8 million from $168.4 million for the three months ended September 30, 2018. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

“Our third quarter’s record worldwide revenues were fueled by strength in both our domestic and international operations,” stated Mark Zoradi, Cinemark’s Chief Executive Officer. “In addition to the film content that resonated extremely well with our global audiences, we benefited from the continued focus and execution of our guest-oriented strategic priorities. We continue to believe the investments we are making to differentiate and enrich the overall entertainment experience we provide our guests will further position Cinemark for long-term success.”

Cinemark Holdings, Inc.’s total revenues for the nine months ended September 30, 2019 increased 2.9% to $2,494.3 million from $2,423.2 million for the nine months ended September 30, 2018. For the nine months ended September 30, 2019, admissions revenues were $1,371.1 million and concession revenues increased 6.6% to $886.1 million. For the nine months ended September 30, 2019, attendance was 215.8 million patrons, average ticket price was $6.35 and concession revenues per patron increased 6.2% to $4.11.

Net income attributable to Cinemark Holdings, Inc. for the nine months ended September 30, 2019 was $165.1 million compared to $194.4 million for the nine months ended September 30, 2018. Diluted earnings per share for the nine months ended September 30, 2019 was $1.41 compared to $1.66 for the nine months ended September 30, 2018.

Adjusted EBITDA for the nine months ended September 30, 2019 was $566.8 million compared to $583.4 million for the nine months ended September 30, 2018. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

As of September 30, 2019, the Company’s aggregate screen count was 6,082 and the Company had commitments to open seven new theatres and 63 screens during the remainder of 2019 and 22 new theatres and 214 screens subsequent to 2019.

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, operates 548 theatres with 6,082 screens in 41 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://investors.cinemark.com/

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