Cinemark Q1 Profit Soars 38 Percent on Strong US Box Office

Cinemark’s profit leapt 37.6 percent for the first quarter of 2016, thanks to 10.7 percent attendance growth attributable in large part to big box office draws “Deadpool” and “Batman v Superman.”

The movie exhibitor beat Wall Street forecasts at both the top and bottom lines, reporting 50 cents earnings per share (EPS) on $704.9 million in revenue. Media analysts had estimated EPS of 46 cents on $699.23 million in revenue, per Yahoo Finance.

Revenue was up 9.2 percent, broken down like this: admissions rose 8.8 percent and concessions increased 10.9 percent.

Cinemark’s net income of $58.5 million was up from 2015’s first-quarter profit of $42.5 million. The half-dollar in earnings compares quite favorably to Q1 2015’s 37 cents.

Also Read: Cinemark President and COO Robert Copple Steps Down

“We are very pleased to report first quarter records in various key performance metrics, including our worldwide attendance, admissions and concession revenues, concession per patron, Adjusted EBITDA, and Adjusted EBITDA margin,” stated Mark Zoradi, Cinemark’s chief executive officer.

“The strength of the Hollywood film content drove North American industry box office growth of 12.5 percent. Cinemark’s domestic admissions revenues surpassed the industry by 160 basis points, marking 26 out of the past 29 quarters of outperformance. Locally-produced films fueled robust attendance growth of nearly 17 percent in our Latin American operations, reiterating that our industry is more closely tied to film content than economic or political environments.”

CNK stock closed Monday at $35.18 per share, down 4 cents.

Company executives will hold a conference call at 8:30 a.m. ET today to discuss the quarter more in-depth.

As of March 31, 2016, Cinemark operated 516 theaters with 5,840 screens and had commitments to open 11 new theaters with 96 screens during the remainder of 2016, and seven additional new theaters with 74 screens subsequent to 2016.

Captain America Vs. Iron Man: A Box Office Faceoff (Photos)

Marvel's "Iron Man" and "Captain America" series have three films each under their respective super-belts. As the numbers are still being tallied for "Captain America: Civil War," let's compare the two franchises.
Marvel
Steve Rogers out-muscles Tony Stark when it comes to the opening weekends of their latest films: With a $181.8 million opening, "Civil War" beat "Iron Man 3," which launched with $174.1 million.

Winner: Captain America
Marvel
So far, "Iron Man 3" has the highest domestic gross of the two Marvel franchises with $409 million. But that could change once more "Civil War" numbers stream in in the coming weeks.

Winner: Iron Man (For Now)
Marvel
Made on a reported $250 million production budget, "Civil War" is the most expensive movie of both series by $50 million. ("Iron Man 3" cost $200 million.)

Winner: Captain America
Marvel
"Iron Man 3" holds the record for worldwide grosses among the two franchises with $1.2 billion. We'll see if "Civil War" can cap that.

Winner: Iron Man
Marvel
With a runtime of two hours and 27 minutes, "Civil War" stays onscreen the longest of any "Captain America" or "Iron Man" movie.

Winner: Captain America
Marvel
With $806.4 million, "Iron Man 3" made more overseas than any film in either series (though "Civil War" could eventually come out on top in that category, too).

Winner: Iron Man (For Now)
Marvel
Of worldwide returns, 2008's "Iron Man" took in the highest domestic percentage of total box office -- 54.4 percent.

Winner: Iron Man
Marvel
Now at 73.2 percent, "Civil War" has brought in the highest percentage of foreign box office, compared with its domestic returns. Again, that could change in the coming weeks - though the trend with each new Cap and Iron Man sequel has been an increasing international percentage.

Winner: Captain America
Marvel
"Iron Man 2" opened in the most theaters of both series: 4,390. That's just a few more than the 4,226 for "Civil War."

Winner: Iron Man
Marvel
The per theater average for "Civil War" is $43,017 right now, but that should lessen in the coming weeks. Before that, "Iron Man 3" holds the record with an average of $40,946.

Winner: To be determined
Marvel
Including some quick appearances in "Ant-Man" and "Thor 2," Chris Evans has portrayed Captain America seven times on the big screen. Robert Downey Jr. has played Iron Man six times so far.

Winner: Captain America

Marvel
Final result: A tie! Proving once again that Captain America and Iron Man are better friends than enemies.
Marvel

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Who wins? See life imitate art as both Marvel franchises are pitted against each other

Marvel's "Iron Man" and "Captain America" series have three films each under their respective super-belts. As the numbers are still being tallied for "Captain America: Civil War," let's compare the two franchises.

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Captain America Vs. Iron Man: A Box Office Faceoff (Photos)

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