Cinemark reports Q3 EPS $1.19, consensus 56c

Reports Q3 revenue $921.8M, consensus $882.54M. “Strong, sustained consumer enthusiasm for shared, larger-than-life, theatrical experiences was once again on full display in the third quarter as film results far outpaced expectations, delivering the highest quarterly box office since the pandemic, which climbed to within 4% of 3Q19,” stated CEO Sean Gamble. “Propelled by one break-out hit after the next as a steadier cadence of compelling titles were released into theaters, the third quarter’s results clearly underscore that movie-going begets movie-going and further illustrate the heightened level of impact a theatrical release provides all categories of content. We commend our studio partners for their outstanding work producing and releasing such captivating films that will clearly leave a meaningful imprint on movie-goers for many years to come. I’d also like to commend our sensational Cinemark (CNK) team for capitalizing on the quarter’s box office strength and once again delivering exceptional results that surpassed industry benchmarks and generated record-high third quarter revenue and Adjusted EBITDA. These solid results are a direct reflection of our highly skilled and resourceful global team, the continued benefits we are deriving from our ongoing strategic initiatives, and Cinemark’s many distinctive advantages that we believe will continue to position us for future growth and success.”