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National CineMedia, Inc. (NASDAQ: NCMI) reported a 7.2% increase in total revenue for the first quarter of 2024 compared to the same period last year. The company saw improvements in operating loss, adjusted OIBDA, and net loss. While net loss per diluted share decreased, adjusted OIBDA and adjusted net loss are non-GAAP measures. The company announced an optimistic outlook for the second quarter of 2024, with expected total revenue of $49.5 million to $51.5 million and Adjusted OIBDA in the range of $3.5 million to $4.5 million. The company continues to focus on creating value for its shareholders through share repurchase programs and strong performance in the cinema advertising network.
Cinemark Holdings, Inc. reported first-quarter 2024 results, including total revenue of $579 million, net income of $25 million, and Adjusted EBITDA of $71 million with a 12.2% margin. The company strengthened its balance sheet by redeeming $150 million of senior secured notes. Despite strike-induced headwinds, the North American industry box office performed well, demonstrating consumer enthusiasm for cinematic experiences. Cinemark entertained 40 million moviegoers globally, surpassed industry recovery benchmarks, and maintained market share growth. Financially, revenue decreased by 5.2% due to lower attendance, but net income improved from a loss to $24.8 million. Adjusted EBITDA decreased to $70.7 million. The company remains optimistic about the industry outlook and its competitive position.
National CineMedia, Inc. (NASDAQ: NCMI) will release its first quarter 2024 earnings results on May 6, 2024. The company, managing National CineMedia, , the largest cinema advertising platform in the U.S., will host a conference call to discuss the results.
Cinemark Holdings, Inc. extends its popular Summer Movie Clubhouse program, sponsored by Universal Pictures' Despicable Me 4 and DreamWorks Animation's The Wild Robot, due to high consumer demand. The program will run for 10 weeks starting on June 10, offering discounted family-friendly films at over 300 Cinemark theaters nationwide. With tickets priced at $1.75, families can enjoy a variety of movies and snack deals, making it an affordable out-of-home entertainment option.
Warner Bros. Pictures and HBO partner to bring the documentary 'The Commandant's Shadow' to theaters in the U.S., focusing on the son of Auschwitz's Camp Commandant facing his father's legacy. The film highlights the meeting between the descendant of a war criminal and a Holocaust survivor, shedding light on the impact of historical atrocities across generations.
