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, 2022.

Cinemark Holdings, Inc.’s total revenues for the three months ended June 30, 2022 increased 152.6% to $744.1 million compared with $294.6 million for the three months ended June 30, 2021. For a portion of the three months ended June 30, 2021, some of the Company’s theatres were closed and there was limited new film content available for the theatres that had reopened. For the three months ended June 30, 2022, admissions revenue was $381.9 million and concession revenue was $286.0 million, driven by attendance of 52.0 million patrons. Average ticket price was $7.34 and concession revenue per patron was $5.50.

Net loss attributable to Cinemark Holdings, Inc. for the three months ended June 30, 2022 was $(73.4) million compared with a loss of $(142.4) million for the three months ended June 30, 2021. Diluted loss per share for the three months ended June 30, 2022 was $(0.61) compared with diluted loss per share of $(1.19) for the three months ended June 30, 2021.

Adjusted EBITDA for the three months ended June 30, 2022 was $138.3 million compared with $(11.8) million for the three months ended June 30, 2021. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at https://ir.cinemark.com.

“Continued improvement in consumer sentiment, as well as a more consistent release cadence of compelling new films with broad consumer appeal and an exclusive theatrical window, yielded the highest quarterly box office since the inception of COVID-19,” stated Sean Gamble, Cinemark’s President & CEO. “Cinemark fully delivered on this sustained recovery in the second quarter, including domestic box office performance that surpassed North American industry results by over 300 basis points with the largest share gain of all the major exhibitors when comparing 2Q22 against 2Q19. Likewise, our second quarter Latin American admissions outpaced its corresponding industry benchmark by approximately 400 basis points over this same time frame.”

“As a result of our sustained investments over the years, the operating enhancements we’ve made throughout the pandemic, and the further advancements we are achieving through our strategic initiatives, we believe Cinemark remains exceptionally well-positioned to navigate the ongoing recovery of our industry and fully capitalize on its continued resurgence.”

Cinemark Holdings, Inc.’s total revenues for the six months ended June 30, 2022 increased 194.5% to $1,204.6 million compared with $409.0 million for the six months ended June 30, 2021. For the six months ended June 30, 2022, admissions revenue was $617.7 million and concession revenue was $459.0 million, driven by attendance of 85.1 million patrons. Average ticket price was $7.26 and concession revenue per patron was $5.39.

Net loss attributable to Cinemark Holdings, Inc. for the six months ended June 30, 2022 was $(147.4) million compared with a loss of $(350.7) million for the six months ended June 30, 2021. Diluted loss per share for the six months ended June 30, 2022 was $(1.23) compared with diluted loss per share of $(2.94) for the six months ended June 30, 2021.

Adjusted EBITDA for the six months ended June 30, 2022 was $163.5 million compared with $(103.8) million for the six months ended June 30, 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 June 30, 2022, the Company’s aggregate screen count was 5,855, and the Company had commitments to open two new theatres and 32 screens during the remainder of 2022 and seven new theatres and 55 screens subsequent to 2022.

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, operates 521 theatres with 5,855 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.