Cinemark enjoyed the fruits of a strong ending in 2024, driven by hits such as “wicked” and “Moana 2” to beat income forecasts with $ 814 million during the fourth quarter.
It is 27% above the $ 638 million that gathered during the fourth quarter of 2023, a quarter where a valuable few hit films like “Wonka” held a theater market that suffered from strike -related delays. It also beats Zack’s Research’s forecasts of $ 797 million in revenue.
More of the top line statistics below:
EPS/Net Profit: Cinemark reported a net profit of $ 51.3 million for the quarter, which corresponds to an adjusted profit per share of $ 0.33. It is down from $ 1.19 per share for the third quarter run by “Despicable Me 4” and “Deadpool & Wolverine” but is an improvement from $ 18 million net loss during the fourth quarter of 2023 and loss per share of 15 cents.
Presence: The presence was 51 million, up from 40.6 million from Q4 2023. In the United States alone, the number was 32.6 million, up from 26.2 million a year ago. Admission revenue hit $ 406.5 million for the quarter, an increase of 26% from Q4 2023.
Concessions: Concession revenue was $ 313.4 million, an increase from $ 243 million in the fourth quarter of 2023. The company hit a high food and drink per capsion of $ 5.96.
“At better than expected industry performance, Cinemark delivered oversized box office and solid overall financial results driven by an intensive focus on disciplined operational implementation and the continued effect of our strategic initiatives,” CEO Sean Gamble said in a statement.
On these strong revenues, Cinemark has re -setting its annual cash distribution to $ 0.32 per share, which Gamble said “marks another large milestone in our recovery from Pandemin and reflects our ongoing commitment to create long -term value for all shareholders.”
The quarter began slowly after the historical collapse by Warner Bros. ‘Joker: Foil A Deux, “which only collected $ 58.3 million domestic. It left Sony’s “Venom: The Last Dance” as the best edition of the month with $ 139 million, with support that comes from the long legs in September Dreamworks releases “The Wild Robot.”
But wealth turned in November thanks to the success of the success of Universal’s “Wicked”, which contributed $ 432 million to the quarter as it became the highest gross Broadway adaptation of all time. It was immediately followed by Disney’s “Moana 2”, who crushed Thanksgiving Weekend Record and contributed $ 404 million to the quarter.
While the holiday season did not give a “Star Wars” level here, Disney’s “Mufasa” and Paramount’s “Sonic the Hedgehog 3” brought 3 “year to a smooth landing with a total of $ 279.6 million. Another Paramount title, “Gladiator II,” was another.
