10-Q · May 1, 2026
Cinemark Holdings, Inc. reported significant year-over-year growth in Q1 2026 with total revenue increasing to $643.1 million, up 18.9% from $540.7 million in Q1 2025. Operating income recovered to $23.5 million despite…
Earnings analysis · 10-Q
CNK earnings analysis
Filed November 3, 2026 · Our reading of the company's report
The latest report
Cinemark reported a strong third quarter, with revenue up 23.5% year over year to $1,059.1 million and diluted EPS of $1.04 versus $0.40, supported by higher attendance, pricing and concession spending in both the U.S.…
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Cinemark reported a strong third quarter, with revenue up 23.5% year over year to $1,059.1 million and diluted EPS of $1.04 versus $0.40, supported by higher attendance, pricing and concession spending in both the U.S. and international segments. Operating margin expanded to 19.5% and Adjusted EBITDA rose to $267.6 million, although results softened sequentially from 2026Q2. Cash generation improved materially, but elevated debt of $1,892.6 million, increased capital spending and a potential $65.0 million IRS assessment remain important risks. No formal numeric revenue or EPS guidance was provided.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.04
- Operating margin
- 19.5%
What stood out
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Revenue surged year over year
Third-quarter revenue was $1,059.1 million, up $201.6 million or 23.5% from $857.5 million in the prior-year quarter, but down approximately $30.9 million or 2.8% from the $1.09 billion reported in 2026Q2.
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Operating margin expanded year over year
Operating income increased to $206.6 million from $114.4 million, and operating margin expanded to 19.5% from 13.3% year over year. Sequentially, operating margin declined from 21.7% in 2026Q2.
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EPS beat consensus
Diluted EPS was $1.04 versus $0.40 in the prior-year quarter, a $0.64 increase, and exceeded the $0.95 consensus estimate. EPS declined from $1.19 in 2026Q2.
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Both operating segments grew
U.S. revenue rose to $817.5 million from $683.6 million, while international revenue rose to $241.6 million from $173.9 million. Attendance increased 12.7% to 37.4 million in the U.S. and 25.2% to 26.3 million internationally.
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Adjusted EBITDA improved sharply
Adjusted EBITDA increased to $267.6 million from $177.6 million, with U.S. Adjusted EBITDA rising to $203.1 million from $140.2 million and international Adjusted EBITDA rising to $64.5 million from $37.4 million.
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Cash generation strengthened
Operating cash flow was $475.8 million for the first nine months, versus $248.3 million in the prior-year period. Capital expenditures increased to $169.7 million from $105.6 million, implying cash generation after capex of approximately $306.1 million before other investing items.
What to watch
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Material leverage
Debt remained material: long-term debt carrying value was $1,892.6 million before debt issuance costs at September 30, 2026, while cash was $555.5 million. The company also reported a Consolidated Net Total Leverage Ratio of 1.64 to 1.00.
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Higher capex and cost pressure
Capital spending increased to $169.7 million in the first nine months from $105.6 million, and signed new-build and expansion commitments totaled $49.1 million. Management also cites inflationary pressures and tariffs as risks to concession product costs.
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IRS audit exposure
The IRS audit of tax years 2019 and 2020 includes a proposed income tax adjustment estimated at $65.0 million before interest and penalties. Management believes it is adequately reserved, but states the outcome is uncertain.
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No formal risk-factor update
The filing states that there were no material changes in risk factors from the February 18, 2026 10-K. Nonetheless, film availability remains a key operating dependency: management identifies the quality and quantity of releases and exclusive theatrical windows as primary industry drivers.
Management's outlook
The 10-Q provides no formal numeric revenue or EPS guidance and does not establish a full-year capex target. Management says existing cash and expected operating cash flow should fund working capital, capital expenditures and known contractual obligations for the next twelve months and beyond. Remaining signed new-build and expansion investment was $49.1 million, including approximately $3.0 million expected during the remainder of 2026.
Earlier filings 4
10-K · February 18, 2026
Cinemark positions itself as a market-leading, geographically diversified theatrical exhibitor emphasizing premium auditorium upgrades, loyalty monetization, and disciplined capital allocation. The 2025 filing…
10-Q · November 5, 2025
Cinemark reported Q3 2025 results with revenues of $857.5 million, up from $922 million in Q3 2024, reflecting a decline year-over-year. The Company posted a net income of $50.5 million, which translates to a diluted…
10-Q · August 1, 2025
Cinemark reported strong Q2 operational results with revenue of $940.5M (vs $734.2M YoY) and operating income of $173.5M (vs $82.9M YoY), driving diluted EPS of $0.63. Cash and liquidity remain sizable at $931.6M of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.