Cinemark Hldgs Inc Stock Price, News & Analysis

Cinemark Holdings (NYSE: CNK), a leading global movie theater exhibitor, announced participation in the Credit Suisse 23rd Annual Communications Investor Conference on June 15. CEO Mark Zoradi and SVP Investor Relations Chanda Brashears will host a fireside chat at 11:10 am ET, along with 1-on-1 investor meetings. Cinemark operates 523 theaters with 5,872 screens across 41 states and 15 countries, offering a premium movie experience through programs like Movie Club and XD formats.

Cinemark Holdings, Inc. (NYSE:CNK) announced the pricing of a private offering of $765 million in 5.25% Senior Notes due 2028. The offering is scheduled to close on June 15, 2021, and proceeds will be used to redeem existing 4.875% Senior Notes due 2023 and cover related fees. The Notes will be senior unsecured obligations, guaranteed by subsidiaries. This offering is exempt under the Securities Act for qualified buyers and will not be registered. Forward-looking statements discuss various expectations and risks, particularly related to market conditions and COVID-19.

Cinemark Holdings, Inc. (NYSE: CNK) announced a private offering by its subsidiary, Cinemark USA, Inc., of $765 million in senior notes due 2028. The offering aims to redeem existing 4.875% notes due 2023. These notes will be senior unsecured obligations, ranking equally with current senior debt. The proceeds will also cover associated fees. The offering is targeted at qualified institutional buyers and certain non-U.S. persons, and is exempt from registration under the Securities Act.

The Metropolitan Opera premiered Yannick: An Artist's Journey, a documentary by Susan Froemke, chronicling Yannick Nézet-Séguin's rise to the Met's Music Director. The film showcases his journey through home videos and rehearsals, highlighting his first performances in the 2018–19 season. The documentary will screen in over 600 U.S. cinemas on July 7, 2021, along with the Summer Encore series featuring operas like Porgy and Bess, Carmen, and Tosca. Tickets are available at FathomEvents.com.

Cinemark Holdings, a leading movie theatre company, and Paramount Pictures are set to host Hollywood's first significant theatrical fan event in over a year, featuring the premiere of A Quiet Place Part II on May 27. The event will be moderated by J. J. Abrams and include a Q&A with star John Krasinski, broadcast to 500 theatres nationwide. Early ticket sales have been strong, indicating robust demand as audiences return to cinemas. Cinemark emphasizes health and safety protocols to ensure a secure moviegoing experience for guests.

Cinemark Holdings has secured agreements to showcase films from all five major studios in its U.S. theatres, enhancing its content offerings. This follows a prior agreement with Universal and includes partnerships with Warner Bros., Disney, Paramount, and Sony. CEO Mark Zoradi expressed optimism about these developments, aiming to provide a broad range of films to boost attendance and box office performance during and post-pandemic. The specific terms of these agreements remain confidential, but they underline a commitment to a robust cinematic experience.

Cinemark Holdings reported its Q1 2021 results, revealing a significant decline in total revenues to $114.4 million from $543.6 million in Q1 2020 due to ongoing impacts from the COVID-19 pandemic. The company had 301 domestic and 78 international theatres open with attendance of 7.7 million patrons. Admissions revenue was $56.1 million and concession revenue was $39.5 million. A net loss of $208.2 million was reported, leading to a diluted loss per share of $1.75. Despite challenges, the CEO expressed optimism for recovery as vaccination rates increase and consumer sentiment improves.

Cinemark Holdings announced the wide theatrical release of Netflix's Army of the Dead starting May 14, ahead of its Netflix debut on May 21. This marks the first major collaboration between Cinemark and Netflix, building on previous successful limited releases. Cinemark's immersive XD auditoriums will feature advanced technology for an enhanced viewing experience. The company emphasizes health and safety with enhanced cleanliness protocols and high guest satisfaction rates since reopening theatres in June 2020.