The cinema owner in the cinema reported mixed results in the fourth quarter, and lost the profits of Wall Street, but spreading better revenues than expected.
The profits of 33 cents are a stake based on a reduced basis from the previous period, which witnessed a loss of 15 cents per share. Analysts' consensus expectations were 41 cents.
Revenue increased by 28 % from last year to 814.3 million dollars, ahead of analysts' expectations for $ 797.7 million.
A quarter of the box office is particularly strong for family films, including Moana 2and eviland MUFASA and Sonic 3. Despite the strong results of the end of the year, the continuous impact of the 2023 double strikes and secular declines in theatrical cinema remained the annual revenue of the industry of $ 8.8 billion less than prenatal levels.
On a positive sign of covid, Cinemark said she was regaining shareholders' profits. The Perk has been abandoned by many public companies as a reward for investors early in the epidemic amid a stampede to maintain their cash reserves. Compared to many competitors, Cinemark maintains a strong public budget with minimal debt. Plano, TX, is also based in a business in many states where theaters managed to stay open in 2020.
“Based on the strength of our company and our future positive expectations, we are pleased to restore annual cash dividends at $ 0.32 per share, which represents another milestone in our recovery from the epidemic.” .
The first quarterly profit distributions will be paid on March 19 to the record shareholders on March 5.
For the whole year, Cinemark pointed to its flexibility in the face of the double Hollywood strikes in 2023, which led to the flow of the main films versions of a good part of 2024. Revenue decreased part of a percentage point compared to 2023, and settled at $ 3.05 billion, with admission revenue decreased by a rate 2 % to reach 1.5 billion dollars and the attendance slip 4 % to 201.1 million Ticket buyers.
