Cinemark Holdings Inc. (NYSE:CNK) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Cinemark Holdings Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 24.32% to $0.28 in the quarter versus EPS of $0.37 in the year-earlier quarter.
Revenue: Decreased 5.36% to $547.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cinemark Holdings Inc. reported adjusted EPS income of $0.28 per share. By that measure, the company beat the mean analyst estimate of $0.24. It missed the average revenue estimate of $550.39 million.
Quoting Management: “Cinemark’s worldwide box office results outperformed the North American industry box office for Q1 2013 by approximately 600 basis points, and has now outperformed the industry for 15 out of the past 16 consecutive quarters on a currency adjusted basis,” stated Tim Warner, Cinemark’s Chief Executive Officer. “Our international segment reported admissions revenue growth of 7.1% this quarter, reiterating the long term growth opportunity provided by this segment.”
Key Stats (on next page)…