Cinemark ( (CNK) ) has released its Q4 earnings. Here is a breakdown of the information Cinemark presented to its investors.
Cinemark Holdings, Inc. is a leading global theatrical exhibition company, operating 497 theaters with over 5,600 screens across the U.S. and Latin America, known for its premium movie-going experiences and innovative initiatives like the Movie Club subscription service.
In its latest earnings report for the fourth quarter and full year 2024, Cinemark Holdings reported robust financial performance and reinstated its annual cash dividend. The company achieved total revenues exceeding $3 billion for the year, with a net income of $313 million and an adjusted EBITDA of $590 million, underscoring its strong recovery post-pandemic.
The company entertained over 201 million moviegoers throughout 2024 and achieved record-high food and beverage sales per patron. Despite a slight decrease in total annual revenue compared to the previous year, Cinemark’s strategic initiatives and operational execution have driven strong box office performance, outpacing industry benchmarks both domestically and internationally.
With a solid cash flow and strengthened balance sheet, Cinemark retired $156 million of pandemic-related debt and reduced interest expenses. The company reinstated its annual cash dividend at $0.32 per share, reflecting confidence in its future growth and commitment to shareholder value.
Looking ahead, Cinemark’s management remains optimistic about future prospects in the theatrical exhibition industry, emphasizing strategic growth and continued commitment to enhancing shareholder returns.