Cinemark reports Q1 EPS (6c), consensus (6c)

Reports Q1 revenue $643M, consensus $634.83M. “Our first quarter results marked our strongest first quarter since the onset of the pandemic across all revenue categories and Adjusted EBITDA, with meaningful top-line growth and margin expansion,” said Sean Gamble, CEO. “Our results reflect our team’s diligent operational execution as well as our advantaged market position, which continues to be reinforced by our ongoing investments and strategic initiatives. Looking ahead, we maintain our confidence in Cinemark’s (CNK) long-term growth prospects on account of our solid financial position, distinct competitive advantages, and the multitude of opportunities we have to drive incremental value. Furthermore, we are highly encouraged by positive momentum in core fundamentals that support our industry, including sustained consumer enthusiasm for larger-than-life cinematic experiences, strength and volume of upcoming film releases, and robust studio commitment to theatrical exhibition.”