Carmike Cinemas Earnings: Everything You Must Know Now
Carmike Cinemas Inc. (NASDAQ:CKEC) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Carmike Cinemas Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.20 in the quarter versus EPS of $0.25 in the year-earlier quarter.
Revenue: Decreased 0.55% to $130.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Carmike Cinemas Inc. reported adjusted EPS loss of $0.20 per share. By that measure, the company missed the mean analyst estimate of $0.07. It missed the average revenue estimate of $130.26 million.
Quoting Management: Carmike Cinemas’ President and Chief Executive Officer David Passman stated, “We are pleased that Carmike’s top-line revenue in the first quarter of 2013 held steady compared to the record-setting first quarter of 2012, as our results were fueled by organic and acquisitive growth as well as a continued appetite for concessions by our valued patrons. Last year’s first quarter box office benefitted from a strong and well-balanced film slate, creating a challenging year-over-year comparison for the industry, especially for Carmike, as our 2012 Q1 admissions receipts and attendance metrics significantly outperformed the industry by 1,260 and 550 basis points, respectively, and we also achieved record-setting adjusted EBITDA and net income. Even with these challenging comparisons, Carmike’s 2013 first quarter admissions per-screen over-indexed by more than 200 basis points, versus the industry.”
Key Stats (on next page)…