CINEMARK HOLDINGS Reports Strong Q2 Earnings Results for FY2023
August 18, 2023
☀️Earnings Overview
On August 4 2023, CINEMARK HOLDINGS ($NYSE:CNK) released their earnings results for the second quarter of FY2023, ending June 30 2023. The company experienced an impressive 26.6% year-on-year increase in total revenue, reaching USD 942.3 million; net income also increased significantly to USD 119.1 million, compared to the -73.4 million reported in the same period of the previous year.
Market Price
CINEMARK HOLDINGS, the world’s third-largest movie theater chain, reported strong second quarter earnings results for FY2023. On Friday, CINEMARK HOLDINGS stock opened at $18.0 and closed at $17.5, up by 1.2% from the prior closing price of 17.3. The strong performance in the second quarter was mainly attributed to the successful re-opening of CINEMARK HOLDINGS theaters in many states across the U.S. as well as its introduction of a variety of new movies. The company also benefited from their loyalty program and the launch of their new streaming service, CINEMARK PLUS.
The strong earnings report further validated that CINEMARK HOLDINGS is a reliable leader in the movie theater industry. Analysts expect CINEMARK HOLDINGS to maintain its momentum throughout FY2023 as it continues to expand globally and increase its market share in the U.S. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cinemark Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 2.8k | -8.4 | 2.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cinemark Holdings. More…
| Operations | Investing | Financing |
| 335.8 | -122.1 | -143.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cinemark Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.85k | 4.59k | 2.01 |
Key Ratios Snapshot
Some of the financial key ratios for Cinemark Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.0% | -42.6% | 6.4% |
| FCF Margin | ROE | ROA |
| 7.5% | 62.6% | 2.3% |
Analysis
At GoodWhale, we analyze CINEMARK HOLDINGS‘s financials to give you a better understanding of their performance and risk profile. Our Risk Rating for CINEMARK HOLDINGS is “medium”, which indicates that the company presents a moderate level of risk when it comes to both financial and business aspects. We have detected one risk warning in CINEMARK HOLDINGS’ income sheet. To learn more about this risk and access other analyses for CINEMARK HOLDINGS, sign up for a GoodWhale account today. More…
Peers
Cinemark Holdings Inc. is one of the world’s largest movie theater chains, with approximately 4,500 screens in more than 40 countries. The company’s theaters are located in the United States, Canada, Brazil, Mexico, Argentina, Chile, Colombia, Ecuador, Peru, Bolivia, Venezuela, Uruguay, Honduras, El Salvador, Costa Rica, Panama, Guatemala, Curacao, Nicaragua, Jamaica, and the Philippines. Cinemark Holdings Inc. operates under three brands: Cinemark, Century Theatres, and Tinseltown. The company also has a joint venture with joint venture partner Regal Entertainment Group, which operates under the brand name Cineplex.
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Summary
Cinemark Holdings saw strong growth in the second quarter of FY2023, with total revenue increasing by 26.6% year-on-year to USD 942.3 million. Net income also reported a positive result, rising from -73.4 million in the same period last year to 119.1 million. Investors should be encouraged by this performance, as it suggests that Cinemark Holdings is continuing to benefit from the increased demand for movie theaters during the pandemic. Moving forward, investors should continue to monitor the company’s financial results to determine if these positive trends continue.
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