Cinemark Holdings (CNK) Tops Q2 EPS by 17c, Revenues Beat

Cinemark Holdings (NYSE: CNK) reported Q2 EPS of ($1.45), $0.17 better than the analyst estimate of ($1.62). Revenue for the quarter came in at $8.97 million versus the consensus estimate of $7.92 million.

“While our company and industry continue to be significantly impacted by the coronavirus pandemic, our team has been working diligently to prepare for reopening our theatres within this new operating environment,” stated Mark Zoradi, Cinemark Chief Executive Officer. “We believe the comprehensive cleaning and safety protocols we have established in The Cinemark Standard, will enable us to effectively operate our theatres while prioritizing the health of our employees, guests and communities. Our test-and-learn theatres have been instrumental in honing the training, communication, and execution of The Cinemark Standard, as well as garnering guest insights regarding its implementation. We are thrilled that 97% of guests surveyed have expressed high satisfaction with how Cinemark is protecting their health and safety. We greatly look forward to initiating the rollout of our theatres beginning August 21st as we welcome our employees and guests back to our Cinemark theatres for great cinematic storytelling.”

For earnings history and earnings-related data on Cinemark Holdings (CNK) click here.

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