Large American exhibitor Cinemark reported strong top link results in the fourth quarter with total revenue of $ 798.6 million, an increase of 6.5% from the same period the year before.
Earnings came in at 17 cents on a diluted basis, which is less than Wall Street's consensus estimate of 44 cents. In the same period in 2017, earnings were 82 cents a share with a federal tax reform that generated a $ 45 million benefit.
Investors met the results enthusiastically and sent Cinemark shares up 3% in market trading to $ 38. 19659003] Quarterly presence, which ended on December 31, rose 2.1% to 67.4 million ticket buyers, with the average fare of $ 6.60. Concession revenue per Cartridge rose 4.0% to $ 4.1
"The endurance industry's resilience was again demonstrated in 2018 when the North American cashier's office reached a record high of USD 11.9 billion, driven by a significant annual presence growth with excellent movie footage," says CEO Mark Zoradi. "And through the consistent implementation of our strategic initiatives focusing on creating an extraordinary guest experience, Cinemark has once again surpassed the industry's performance for the ninth time out of the last ten years with 7.7% domestic office building growth and a 6.3 % Increase in Participation. "
In the twelve months ending December 31, 2018, participation increased 1.8% to 282.1 million borrowers, the average fare rose to $ 6.50 and concession revenue per month. Cartridge rose 4.8% to 3.93.
Eric Handler, an analyst with MKM Partners, celebrated quarterly and full-year figures in a note to the customers. "Our large imagery remains intact as we see Cinemark as the best in class leader and a solid free cash flow generator with a strong balance," he wrote.