Cinema giant Cinemark Holdings on Tuesday reported lower first-quarter earnings as the box-office drop for the quarter meant lower attendance, admissions and concession revenue. Cookie Notice. The company posted quarterly earnings of $32.7 million, or 28 cents per share, compared with $62.0 million, or 53 cents a share, in the year-ago period. Analysts had forecast a loss of just $0.16 per share. His coverage reflects his passion for motorcycles, booze, and guns (though typically not all exercised at the same time), but his writing also covers the broader sectors of consumer goods, technology, and industrials. Intraday data delayed at least 15 minutes or per exchange requirements. Georg Szalai While being forced to close its movie theaters hurt its performance, investors might be surprised by the size of the miss, since the lockdown period only represented two weeks out of the quarter. It reported a net loss of $59.6 million, or $0.51 per share, versus a profit of $32.7 million, or $0.28 per share. I believe the key elements that Fox had in the works will continue.". 8:30 a.m. Eastern Time. ZIP XLS HTML. Cinemark Holdings Badly Misses Expectations in Its First Quarter Being forced to close its theaters for the last two weeks of the quarter hurt performance. Debut. Reach Rich here. About Our Ads Cinema giant Cinemark Holdings on Tuesday reported lower first-quarter earnings as the box-office drop for the quarter meant lower attendance, admissions and concession revenue. Cinemark Holdings, Inc. (“Cinemark”) (NYSE: CNK), one of the largest motion picture exhibitors in the world, today announced that it will report its first quarter 2020 operating results pre-market and host a webcast and conference call to discuss the results on: Wednesday, June 3, 2020 8:30 a.m. Eastern Time For more information, go to https://investors.cinemark.com/. A replay of the call will be available at https://investors.cinemark.com following the call and archived for a limited time. Cinemark’s circuit comprised of various brands that also include Century, Tinseltown and Rave, operates 554 theatres with 6,132 screens in 42 states domestically and 15 countries throughout South and Central America. Cinemark (NYSE:CNK) is up 2.6%, amid a broader market rally, after investors absorbed the brunt of the company's Q1 earnings, which showed declines … ET Cinemark reported revenue of $543.6 million, down 24% from the $714.7 million it notched last year and below the $556.6 million Wall Street was looking for. "We had dozens of theaters playing the movie in the middle of the night," he reported. Cinemark Holdings, Inc. ("Cinemark") (NYSE: CNK), one of the largest motion picture exhibitors in the world, today announced that it will report its first quarter … Stock Advisor launched in February of 2002. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. Related Documents. Why Cinemark Holdings Was Jumping 10% Higher Today, It's Now or Never for AMC Entertainment Investors, Copyright, Trademark and Patent Information. 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. U.S. admissions revenue fell nearly 12 percent to $308.8 million, while international admissions revenue fell 16 percent to $86.7 million. Terms of Use | Phone (Domestic): 800-374-1346 Subscriber Agreement & Terms of Use, Despite the recent downturn at the North American box office following a record-shattering 2018, Zoradi told analysts the start of the summer, with Avengers: Endgame and its "truly historic results," portended another impressive year for Hollywood movies in 2019. A replay of the call will be available at https://investors.cinemark.com following the call and archived for a limited time. Caitlin Piper CEO Mark Zoradi said in a statement, "As a direct result of the global COVID-19 pandemic, we were forced to close all of our theaters in the middle of March, which had a significant impact on our first quarter results, and continues to impact us today.". Scan at the box office and concession stand to earn points, unlock rewards and use your Movie Club credits. Yet Cinemark closed all of its theaters on March 18 and the quarter ended on March 31. Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Privacy Notice and During an analyst call, Cinemark CEO Mark Zoradi attributed the drop in the first quarter box office to a tough comparison with the year-earlier financial quarter, during which ticket sales got a bump from the releases of Star Wars: The Last Jedi, The Greatest Showman and Black Panther.