Cinemark Beats Wall Street's Q2 Earnings And Revenue Expectations

The chain that owns the Aurora, Colorado theater where 12 people were murdered last month just filed a dry financial statement and press release this morning without the usual comments from the CEO about the company and its agenda. And the numbers are solid, following the industry pattern of lower attendance offset by higher consumer outlays. In Q2 Cinemark generated $52.1M in net income, +27.1% vs the same period last year, on revenues of $649.6M, +4.7%. The revenue figure is well ahead of the $630.8M that analysts expected. Earnings at 45 cents a share trumped forecasts for 37 cents. Domestic admissions fell 4.3% to 42M. But with ticket prices up 3% to an average of $6.84, revenues from admissions here just dropped 1.4% to $287.2M. The company says that the rise in ticket outlays is “primarily due to the increase in 3-D and premium content business and price increases”. Meanwhile the average patron in North America spent $3.38 on concessions, +6% vs  last year. Total revenues from concessions rose 1.4% to $141.8M. Cinemark execs will brief analysts later this morning.

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