Cinemark (NYSE: CNK) grows Q1 2026 revenue 19% and sharply cuts loss
Rhea-AI Filing Summary
Cinemark Holdings, Inc. reported sharply improved first quarter 2026 results. Total revenue rose 18.9% to $643.1 million, while net loss attributable to Cinemark narrowed to $(6.4) million, or $(0.06) per share, from $(38.9) million, or $(0.32) per share, a year earlier.
Adjusted EBITDA jumped to $88.5 million from $36.4 million, and attendance increased to 39.0 million patrons. Cinemark achieved record first-quarter revenue and Adjusted EBITDA since the pandemic, supported by higher ticket and concession spending and contributions from premium formats and alternative content.
Positive
- Sharp profitability improvement – Net loss attributable to Cinemark narrowed from $(38.9) million to $(6.4) million, while Adjusted EBITDA climbed from $36.4 million to $88.5 million, reflecting much stronger operating performance.
- Strong revenue and attendance trends – Total revenue grew 18.9% to $643.1 million and attendance increased to 39.0 million patrons, supported by higher average ticket prices and concession revenue per patron.
- U.S. segment EBITDA surge – U.S. Adjusted EBITDA rose to $74.7 million from $20.0 million, indicating substantial operating leverage in the company’s largest market.
Negative
- Continuing net loss and negative free cash flow – Despite improvements, Cinemark still posted a $(6.4) million net loss attributable to the company and reported free cash flow of $(58.1) million for the quarter.
- High leverage and reduced cash balance – Total long-term debt remains $1,875.3 million while cash and cash equivalents declined from $344.3 million at year-end 2025 to $261.7 million at March 31, 2026.
Insights
Cinemark’s Q1 2026 shows strong revenue growth and a major EBITDA recovery while remaining slightly loss-making.
Cinemark delivered Q1 2026 revenue of $643.1 million, up 18.9% from $540.7 million. Attendance reached 39.0 million, with higher average ticket prices and concession spend per patron, driving both top-line growth and better monetization of moviegoer traffic.
Profitability improved meaningfully: net loss attributable to Cinemark shrank to $(6.4) million from $(38.9) million, while Adjusted EBITDA rose to $88.5 million from $36.4 million. Segment data show especially strong EBITDA expansion in the U.S. reportable segment.
Cinemark ends the quarter with $261.7 million in cash and total long-term debt of $1,875.3 million, implying a reported net leverage ratio of 2.6x. Cash flows used for operating activities improved versus the prior year, and free cash flow, though still negative, narrowed substantially, suggesting gradual balance sheet progress.
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
free cash flow financial
net leverage ratio financial
constant currency financial
non-GAAP financial measure financial
Earnings Snapshot
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Common Stock, par value $0.001 per share |
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CNK |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 1, 2026, we announced our financial results for the quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Use of Website to Distribute Material Company Information
We use our Investor Relations website as a means of disclosing material non-public information and for the purpose of complying with our disclosure obligations under Regulation FD. Therefore, we encourage investors, the media and others to review the information we post at https://ir.cinemark.com.
Item 7.01 Regulation FD Disclosure.
On May 1, 2026, we announced our financial results for the quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
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Exhibit Description |
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99.1 |
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Earnings press release dated May 1, 2026 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
The information furnished pursuant to Items 2.02 and 7.01 of this Current Report on Form 8-K, including the exhibits, shall not be deemed to be incorporated by reference into any of our filings with the SEC under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing, and shall not be deemed to be “filed” with the SEC under the Securities Exchange Act of 1934, as amended.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CINEMARK HOLDINGS, INC. |
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Date: May 1, 2026 |
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/s/ Michael D. Cavalier |
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Name: |
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Michael D. Cavalier |
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Executive Vice President - General Counsel |
Exhibit 99.1
CINEMARK HOLDINGS, INC. REPORTS FIRST QUARTER 2026 RESULTS
Grew Total Revenue 19% to $643 million, reduced Net Loss 85% to $(6) million, increased
Adjusted EBITDA 143% to $88 million, and expanded Adjusted EBITDA margin 710 basis points
Achieved strongest first quarter results in Total Revenue and Adjusted EBITDA since onset of the pandemic
Plano, TX, May 1, 2026 – Cinemark Holdings, Inc. (NYSE: CNK), one of the largest and most influential theatrical exhibition companies in the world, today reported results for the three months ended March 31, 2026.
“Our first quarter results marked our strongest first quarter since the onset of the pandemic across all revenue categories and Adjusted EBITDA, with meaningful top‑line growth and margin expansion,” said Sean Gamble, President and Chief Executive Officer of Cinemark. “Our results reflect our team’s diligent operational execution as well as our advantaged market position, which continues to be reinforced by our ongoing investments and strategic initiatives.”
Gamble continued, “Looking ahead, we maintain our confidence in Cinemark’s long-term growth prospects on account of our solid financial position, distinct competitive advantages, and the multitude of opportunities we have to drive incremental value. Furthermore, we are highly encouraged by positive momentum in core fundamentals that support our industry, including sustained consumer enthusiasm for larger-than-life cinematic experiences, strength and volume of upcoming film releases, and robust studio commitment to theatrical exhibition.”
Q1 2026 Earnings Highlights
1
Financial Results
Cinemark Holdings, Inc.’s total revenue for the three months ended March 31, 2026 increased 18.9% to $643.1 million compared with $540.7 million for the three months ended March 31, 2025. For the three months ended March 31, 2026, admissions revenue was $311.4 million while concession revenue was $255.2 million, with attendance of 39.0 million patrons. Worldwide average ticket price was $7.98 and concession revenue per patron was $6.54.
Net loss attributable to Cinemark Holdings, Inc. for the three months ended March 31, 2026 was $(6.4) million compared with $(38.9) million for the three months ended March 31, 2025. Diluted loss per share for the three months ended March 31, 2026 was $(0.06) compared with $(0.32) for the three months ended March 31, 2025.
Adjusted EBITDA for the three months ended March 31, 2026 was $88.5 million compared with $36.4 million for the three months ended March 31, 2025. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at https://ir.cinemark.com.
Prepared Earnings Remarks and Conference Call Information
In conjunction with this release, Cinemark will post an earnings executive commentary at https://ir.cinemark.com and will host a live webcast today at 8:30 am ET.
To access the webcast go to https://event.choruscall.com/mediaframe/webcast.html?webcastid=RZXqr90L. A replay will be available following the call and archived for a limited time.
About Cinemark Holdings, Inc.
Cinemark Holdings, Inc. (NYSE: CNK) provides extraordinary out-of-home entertainment experiences as one of the largest and most influential theatrical exhibition companies in the world. Based in Plano, Texas, Cinemark makes every day cinematic for moviegoers across nearly 500 theaters and more than 5,500 screens, operating in 42 states in the U.S. (301 theaters; 4,219 screens) and 13 South and Central American countries (194 theaters; 1,401 screens). Cinemark offers guests superior sight and sound technology, including Barco laser projection and Cinemark XD, the world’s No. 1 exhibitor-branded premium large format; industry-leading penetration of upscale amenities such as expanded food and beverage offerings, Luxury Lounger recliners and D-BOX motion seats; top-notch guest service; and award-winning loyalty programs such as Cinemark Movie Club. All of this creates an immersive environment for a shared, entertaining escape, underscoring that there is no place more cinematic than Cinemark. For more information go to https://ir.cinemark.com.
Investor Relations Contact:
Chanda Brashears – 972-665-1671 or cbrashears@cinemark.com
Media Contact:
Julia McCartha – 972-665-1322 or pr@cinemark.com
2
Forward-looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on information currently available as well as management’s assumptions and beliefs today. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the statements, and investors should not place undue reliance on them. Risks and uncertainties that could cause actual results to differ materially from such statements include:
You can identify forward-looking statements by the use of words such as “may,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “anticipates,” “believes,” “plans,” “expects,” “future” and “intends” and similar expressions which are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict. Such risks and uncertainties could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. In evaluating forward-looking statements, you should carefully consider the risks and uncertainties described in the “Risk Factors” section or other sections in the Company's Annual Report on Form 10-K filed February 18, 2026. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. We undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
3
Cinemark Holdings, Inc.
Financial and Operating Summary
(unaudited, in millions, except per share amounts)
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Three Months Ended |
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March 31, |
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2026 |
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2025 |
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Statement of loss data: |
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Revenue |
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Admissions |
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$ |
311.4 |
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$ |
264.1 |
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Concession |
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255.2 |
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210.4 |
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Other |
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76.5 |
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66.2 |
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Total revenue |
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$ |
643.1 |
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$ |
540.7 |
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Cost of operations |
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Film rentals and advertising |
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169.7 |
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141.4 |
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Concession supplies |
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48.5 |
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44.3 |
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Salaries and wages |
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94.4 |
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90.3 |
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Facility lease expense |
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80.9 |
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78.3 |
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Utilities and other |
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114.7 |
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105.7 |
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General and administrative expenses |
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56.1 |
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54.5 |
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Depreciation and amortization |
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51.6 |
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49.5 |
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Loss (gain) on disposal of assets and other |
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3.7 |
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(4.1 |
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Total cost of operations |
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619.6 |
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559.9 |
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Operating income (loss) |
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23.5 |
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(19.2 |
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Other income (expense) |
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Interest expense |
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(34.7 |
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(38.5 |
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Other income, net |
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1.4 |
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4.4 |
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Loss before income taxes |
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(9.8 |
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(53.3 |
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Income tax benefit |
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(4.0 |
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(14.7 |
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Net loss |
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$ |
(5.8 |
) |
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$ |
(38.6 |
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Less: Net income attributable to noncontrolling interests |
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0.6 |
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0.3 |
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Net loss attributable to Cinemark Holdings, Inc. |
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$ |
(6.4 |
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$ |
(38.9 |
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Loss per share attributable to Cinemark Holdings, Inc.'s common stockholders |
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Basic |
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$ |
(0.06 |
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$ |
(0.32 |
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Diluted |
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$ |
(0.06 |
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$ |
(0.32 |
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Weighted average shares outstanding |
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Basic |
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114.7 |
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119.4 |
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Diluted |
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114.7 |
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119.4 |
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4
Other Operating Data
(unaudited, in millions)
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As of |
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March 31, 2026 |
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December 31, 2025 |
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Balance sheet data: |
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Cash and cash equivalents |
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$ |
261.7 |
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$ |
344.3 |
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Theater properties and equipment, net |
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$ |
1,173.3 |
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$ |
1,175.8 |
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Total assets |
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$ |
4,345.8 |
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$ |
4,433.9 |
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Total long-term debt, net of unamortized debt issuance costs and original issue discount |
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$ |
1,875.3 |
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$ |
1,875.6 |
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Total equity |
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$ |
389.7 |
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$ |
413.8 |
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Three Months Ended March 31, |
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2026 |
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2025 |
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Cash flows used for: |
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Operating activities (1) |
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$ |
(20.4 |
) |
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$ |
(119.1 |
) |
Investing activities |
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$ |
(37.5 |
) |
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$ |
(15.3 |
) |
Financing activities |
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$ |
(36.8 |
) |
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$ |
(230.1 |
) |
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Three Months Ended March 31, |
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2026 |
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2025 |
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Reconciliation of free cash flow: |
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Cash flows used for operating activities |
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$ |
(20.4 |
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$ |
(119.1 |
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Less: capital expenditures |
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37.7 |
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22.1 |
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Free cash flow |
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$ |
(58.1 |
) |
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$ |
(141.2 |
) |
Segment Information
(unaudited, in millions, except per patron data)
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U.S. Reportable Segment |
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International Reportable Segment |
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Consolidated |
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Three Months Ended March 31, |
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Three Months Ended March 31, |
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Three Months Ended March 31, |
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Revenue and Attendance |
2026 |
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2025 |
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2026 |
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2025 |
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Constant |
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2026 |
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2025 |
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Admissions revenue |
$ |
253.8 |
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$ |
207.6 |
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$ |
57.6 |
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$ |
56.5 |
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$ |
57.3 |
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$ |
311.4 |
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$ |
264.1 |
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Concession revenue |
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206.8 |
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164.4 |
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48.4 |
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46.0 |
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47.7 |
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255.2 |
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210.4 |
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Other revenue |
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54.1 |
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45.1 |
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22.4 |
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21.1 |
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22.7 |
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76.5 |
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66.2 |
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Total revenue |
$ |
514.7 |
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$ |
417.1 |
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$ |
128.4 |
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$ |
123.6 |
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$ |
127.7 |
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$ |
643.1 |
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$ |
540.7 |
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Attendance |
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24.1 |
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20.6 |
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14.9 |
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16.0 |
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39.0 |
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36.6 |
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Average ticket price |
$ |
10.53 |
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$ |
10.08 |
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$ |
3.87 |
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$ |
3.53 |
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$ |
3.85 |
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$ |
7.98 |
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$ |
7.22 |
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Concession revenue per patron |
$ |
8.58 |
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$ |
7.98 |
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$ |
3.25 |
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$ |
2.88 |
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$ |
3.20 |
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$ |
6.54 |
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$ |
5.75 |
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Cost of Operations |
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Film rentals and advertising |
$ |
140.9 |
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$ |
113.2 |
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$ |
28.8 |
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$ |
28.2 |
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$ |
28.8 |
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$ |
169.7 |
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$ |
141.4 |
|
Concession supplies |
$ |
37.8 |
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$ |
33.8 |
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|
$ |
10.7 |
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|
$ |
10.5 |
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|
$ |
10.5 |
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|
$ |
48.5 |
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|
$ |
44.3 |
|
Salaries and wages |
$ |
77.2 |
|
|
$ |
74.6 |
|
|
$ |
17.2 |
|
|
$ |
15.7 |
|
|
$ |
17.1 |
|
|
$ |
94.4 |
|
|
$ |
90.3 |
|
Facility lease expense |
$ |
62.3 |
|
|
$ |
60.2 |
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|
$ |
18.6 |
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|
$ |
18.1 |
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$ |
17.9 |
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$ |
80.9 |
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$ |
78.3 |
|
Utilities and other |
$ |
88.8 |
|
|
$ |
81.8 |
|
|
$ |
25.9 |
|
|
$ |
23.9 |
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|
$ |
25.8 |
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|
$ |
114.7 |
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|
$ |
105.7 |
|
(1) Constant currency amounts, which are non-GAAP measurements, were calculated using the average exchange rate for the corresponding month for 2025. We translate the results of our international reportable segment from local currencies into U.S. dollars using currency rates in effect at different points in time in accordance with U.S. GAAP. Significant changes in foreign currency exchange rates from one period to the next can result in meaningful variations in reported results. We are providing constant currency amounts for our international reportable segment to present a period-to-period comparison of business performance that excludes the impact of foreign currency fluctuations.
5
Other Segment Information
(unaudited, in millions)
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Three Months Ended |
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March 31, |
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2026 |
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2025 |
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Adjusted EBITDA (1) |
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U.S. |
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$ |
74.7 |
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$ |
20.0 |
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International |
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13.8 |
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16.4 |
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Total Adjusted EBITDA (1) |
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$ |
88.5 |
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$ |
36.4 |
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Capital expenditures |
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U.S. |
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$ |
28.9 |
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$ |
16.9 |
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International |
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8.8 |
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5.2 |
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Total capital expenditures |
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$ |
37.7 |
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$ |
22.1 |
|
Reconciliation of Adjusted EBITDA
(unaudited, in millions)
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Three Months Ended |
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March 31, |
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2026 |
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2025 |
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Net loss |
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$ |
(5.8 |
) |
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$ |
(38.6 |
) |
Add (deduct): |
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Income tax benefit |
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(4.0 |
) |
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(14.7 |
) |
Interest expense (1) |
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34.7 |
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38.5 |
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Other income, net (2) |
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(1.4 |
) |
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(4.4 |
) |
Cash distributions from equity investees (3) |
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3.9 |
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4.8 |
|
Depreciation and amortization |
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51.6 |
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|
|
49.5 |
|
Loss (gain) on disposal of assets and other |
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3.7 |
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(4.1 |
) |
Non-cash rent expense |
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(2.9 |
) |
|
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(2.8 |
) |
Share-based awards compensation expense |
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8.7 |
|
|
|
8.2 |
|
Adjusted EBITDA |
|
$ |
88.5 |
|
|
$ |
36.4 |
|
6