Cinemark reports Q3 EPS 40c, consensus 46c

Reports Q3 revenue $858M, consensus $841.03M. “Cinemark’s (CNK) performance over the past five years has been defined by strength, tenacity, innovation and continuous improvement – attributes that continue to drive our operational and financial success,” stated Sean Gamble, Cinemark’s President and CEO. “This quarter, we achieved a significant financial milestone by fully retiring the final portion of our pandemic-related debt, and, as of today, we have completely settled all associated warrants. In recognition of our financial strength, along with a sustained conviction in Cinemark’s ongoing strategic direction and long-term growth potential, our Board of Directors just authorized a 12.5% increase in our annual dividend as well as a new $300M share repurchase program.”