Cinemark posted another positive quarter thanks to a largely Warner Bros.-driven box office in Q3. But a slide in overall grosses compared to recent years also led to a 7% year-over-year drop in revenue to $858 million.
Despite that, Cinemark still reported a quarterly profit of $51 million, equating to adjusted earnings of 40 cents per share. In Q3 2024, a quarter driven by the Marvel Studios blockbuster “Deadpool & Wolverine,” Cinemark reported net income of $189 million for earnings of $1.19 per share, with a post-pandemic high revenue of $922 million.
Compared to that quarter a year ago and the landmark one in 2023 that featured “Barbie” and “Oppenheimer,” the domestic box office couldn’t quite reach similar heights in 2025 even as Warner yielded several hits like “F1,” “Superman,” “Weapons” and “The Conjuring: Last Rites.” Domestic overall grosses for the quarter reached $2.36 billion, down 11% year-over-year.
Looking ahead, Q4 is off to a slow start after the worst October at the box office since 1998. Current domestic grosses stand at $475 million, down 11% to this point a year ago. But that is expected to change in two weeks with the release of “Wicked: For Good,” the first in a series of highly anticipated films through the holidays that includes “Zootopia 2” and “Avatar: Fire and Ash.”
“Cinemark’s performance over the past five years has been defined by strength, tenacity, innovation and continuous improvement – attributes that continue to drive our operational and financial success,” said Sean Gamble, Cinemark’s President and CEO. “This quarter, we achieved a significant financial milestone by fully retiring the final portion of our pandemic-related debt, and, as of today, we have completely settled all associated warrants.”
Gamble continued: “In recognition of our financial strength, along with a sustained conviction in Cinemark’s ongoing strategic direction and long-term growth potential, our Board of Directors just authorized a 12.5% increase in our annual dividend as well as a new $300 million share repurchase program.”
Attendance for the quarter came in at 54 million tickets sold, while concessions revenue reached $337 million for a per patron spend of $8.20 compared to $7.97 the prior year.
Cinemark stock is currently trading at $26.75/share after hitting a peak of $33 at the end of May following a hot streak for the box office that included “A Minecraft Movie” and “Lilo & Stitch.”