Cinemark Q2 revenue rises to record high, helped by market share gains

Overview

• US movie theater operator's Q2 revenue rose 15.5% yr/yr to record high

• Q2 net income nearly doubled yr/yr

• Company cites strong box office and operational improvements for record results

Result Drivers

• FILM SLATE - Co said a diverse and popular slate of films meaningfully connected with audiences, driving attendance

• MARKET SHARE GAINS - Co reported sustained market share gains in both the U.S. and Latin America, outpacing industry growth benchmarks

• BUSINESS OPTIMIZATION - Co cited enhanced consumer offerings and operational improvements as contributing to record results

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the leisure & recreation peer group is "buy"

• Wall Street's median 12-month price target for Cinemark Holdings Inc is $36.50, about 4.6% above its July 29 closing price of $34.89

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads

• July 29 - Resilient tourists help US travel firms absorb Middle East shock

• July 28 - BetMGM cuts outlook as prediction market competition grows

• July 28 - Omnicom tops quarterly revenue estimates on strong ad demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)