Cinemark Holdings, Inc. — Third Quarter 2026 Earnings Summary

Financial Performance:

• Total revenue for the three months ended September 30, 2026, increased 23.5% year-over-year to $1,059.1 million (Q3 2025: $857.5 million).
• Total revenue for the nine months ended September 30, 2026, increased 19.2% year-over-year to $2,788.6 million (YTD 2025: $2,338.7 million).
• Net income attributable to Cinemark Holdings, Inc. for Q3 2026 was $122.8 million, a 148% increase from $49.5 million in Q3 2025.
• Net income attributable to Cinemark Holdings, Inc. for the nine months ended September 30, 2026, was $255.8 million, a 145% increase from $104.1 million in the prior year period.
• Diluted earnings per share (EPS) for Q3 2026 were $1.04, compared to $0.40 in Q3 2025.
• Diluted EPS for the nine months ended September 30, 2026, were $2.17, compared to $0.77 in the prior year period.
• Adjusted EBITDA for Q3 2026 was $267.6 million, up from $177.6 million in Q3 2025, with an Adjusted EBITDA margin of 25.3% (an expansion of 460 basis points year-over-year).
• Adjusted EBITDA for the nine months ended September 30, 2026, was $650.1 million, up from $446.2 million in the prior year period.
• Operating cash flow for the nine months ended September 30, 2026, was $475.8 million, compared to $248.3 million in the prior year period.
• Free cash flow for the nine months ended September 30, 2026, was $306.1 million, compared to $142.7 million in the prior year period.
• Cash and cash equivalents ended the quarter at $555.5 million as of September 30, 2026, up from $344.3 million as of December 31, 2025.
• Total long-term debt was $1,876.4 million as of September 30, 2026, compared to $1,875.6 million as of December 31, 2025.
• Total equity was $622.8 million as of September 30, 2026, up from $413.8 million as of December 31, 2025.

Guidance and Future Outlook:

• Management expressed high confidence in long-term growth prospects and value proposition.
• Full-year capital expenditure investment is expected to be approximately $250 million; year-to-date capital expenditures reached $170 million.
• Management cited favorable consumer trends and content dynamics as supporting factors for future growth.

Business Segments and Product Lines:

• U.S. Segment: Generated $817.5 million in revenue for Q3 2026 (up from $683.6 million in Q3 2025) and $2,192.2 million for the nine months ended September 30, 2026 (up from $1,860.0 million).
• International Segment: Generated $241.6 million in revenue for Q3 2026 (up from $173.9 million in Q3 2025) and $596.4 million for the nine months ended September 30, 2026 (up from $478.7 million).
• Attendance reached 63.7 million patrons in Q3 2026 (up from 54.2 million in Q3 2025) and 166.4 million for the nine months ended September 30, 2026 (up from 148.7 million).
• Worldwide average ticket price was $8.33 in Q3 2026 (up from $7.93) and $8.31 for the nine months ended September 30, 2026 (up from $7.81).
• Concession revenue per patron was $6.50 in Q3 2026 (up from $6.21) and $6.63 for the nine months ended September 30, 2026 (up from $6.22).
• Premium large format box office (XD, IMAX, ScreenX) increased 50% year-over-year in Q3 2026, surpassing the prior record by 20%.
• Motion seat revenue grew 62% year-over-year in Q3 2026, accounting for 7% of global box office.
• Capital expenditures were $70.4 million in Q3 2026 (U.S.: $58.0 million; International: $12.4 million) and $169.7 million for the nine months ended September 30, 2026 (U.S.: $135.6 million; International: $34.1 million).

Market and Competitive Landscape:

• Cinemark sustained market share gains of more than 150 basis points since the pandemic in both the U.S. and Latin America, representing the most significant gains of all major exhibitors.
• The company operates across 14 countries with a footprint of nearly 500 theaters and more than 5,600 screens.

Risks and Challenges:

• Forward-looking statements are subject to risks including future revenue, expenses, profitability, currency exchange rates, inflation, and general economic conditions.
• Risks include fluctuations in attendance, the number and diversity of popular movie releases, and the length of exclusive theatrical release windows.
• Potential challenges include competition from other exhibitors, alternative entertainment forms, and content delivery via streaming.
• Other risks involve changes in legislation, government regulations, litigation outcomes, and extraordinary events such as conflicts, wars, natural disasters, public health crises, labor strikes, or terrorist acts.

Management Commentary and Tone:

• Sean Gamble, President and CEO, stated the company delivered "exceptional Q3 results" with record revenue and Adjusted EBITDA.
• Management attributed success to the strength of the operating model, team effectiveness, and strategic initiatives.
• Gamble highlighted the ability to translate positive box office momentum from summer releases into consistent earnings growth.
• The tone was highly confident regarding long-term growth prospects, citing a healthy balance sheet and differentiated competitive position.

Other Key Points:

• The company entertained 64 million moviegoers across its global footprint in Q3 2026.
• Q3 2026 marked the highest third-quarter revenue ($1.1 billion rounded) and second-best quarterly revenue in company history.
• Q3 2026 Adjusted EBITDA of $268 million (rounded) was the highest in company history.
• The company generated $136 million of cash from operations and $66 million of free cash flow for the quarter.
• Capital expenditures included investments in new build theaters, recliner remodels, laser projector conversions, and premium amenities.
• The company operates 301 theaters (4,211 screens) in the U.S. and 195 theaters (1,407 screens) in 13 South and Central American countries.