EX-99.1

Exhibit 99.1

LOGO

CINEMARK HOLDINGS, INC. REPORTS ALL-TIME HIGH TOTAL REVENUES, NET INCOME, ADJUSTED EBITDA AND EARNINGS PER SHARE ACROSS GLOBAL CIRCUIT FOR THE SECOND QUARTER OF 2019

Plano, TX, August 2, 2019 – Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, today reported results for the three and six months ended June 30, 2019.

Cinemark Holdings, Inc.’s total revenues for the three months ended June 30, 2019 increased 7.7% to a record $957.8 million from $889.0 million for the three months ended June 30, 2018. For the three months ended June 30, 2019, admissions revenues increased 2.4% to $521.1 million and concession revenues increased 13.1% to $345.3 million. For the three months ended June 30, 2019, attendance increased 5.0% to 80.2 million patrons, average ticket price was $6.50 and concession revenues per patron increased 7.7% to $4.31.

Net income attributable to Cinemark Holdings, Inc. for the three months ended June 30, 2019 was a record $101.0 million compared to $82.1 million for the three months ended June 30, 2018. Diluted earnings per share for the three months ended June 30, 2019 was a record $0.86 compared to $0.70 for three months ended June 30, 2018.

Adjusted EBITDA for the three months ended June 30, 2019 increased 10.4% to a record $244.7 million from $221.6 million for three months ended June 30, 2018. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

“We are extremely pleased with our worldwide second quarter results that were generated by our domestic box office, which surpassed the North American industry in excess of 300 basis points, a significant rebound in international attendance and continued strength in our global food and beverage sales,” stated Mark Zoradi, Cinemark’s Chief Executive Officer. “As we look forward, we will continue to execute our strategic initiatives to ensure we are well-positioned to capitalize on the strength of film content and the investments we have made to enhance the overall guest experience.”

Cinemark Holdings, Inc.’s total revenues for the six months ended June 30, 2019 were $1,672.5 million compared to $1,669.0 million for the six months ended June 30, 2018. For the six months ended June 30, 2019, admissions revenues were $916.6 million and concession revenues increased 5.2% to $596.6 million. For the six months ended June 30, 2019, attendance was 142.5 million patrons, average ticket price was $6.43 and concession revenues per patron increased 7.2% to $4.19.

Net income attributable to Cinemark Holdings, Inc. for the six months ended June 30, 2019 was $133.7 million compared to $144.2 million for the six months ended June 30, 2018. Diluted earnings per share for the six months ended June 30, 2019 was $1.14 compared to $1.23 for the six months ended June 30, 2018.

Adjusted EBITDA for the six months ended June 30, 2019 was $397.0 million compared to $415.0 million for the six months ended June 30, 2018. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.

As of June 30, 2019, the Company’s aggregate screen count was 6,086 and the Company had commitments to open eight new theatres and 73 screens during the remainder of 2019 and 17 new theatres and 162 screens subsequent to 2019.

Conference Call/Webcast – Today at 8:30 AM ET

Telephone: via 800-374-1346 or 706-679-3149 (for international callers).

Live Webcast/Replay: Available live at investors.cinemark.com. A replay will be available following the call and archived for a limited time.

About Cinemark Holdings, Inc.

Cinemark is a leading domestic and international motion picture exhibitor, operating 549 theatres with 6,086 screens in 41 U.S. states, Brazil, Argentina and 13 other Latin American countries as of June 30, 2019. For more information go to investors.cinemark.com.

Financial Contact :

Chanda Brashears – 972-665-1671 or cbrashears@cinemark.com

Media Contact:

James Meredith – 972-665-1060 or communications@cinemark.com

Forward-looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The “forward-looking statements” include our current expectations, assumptions, estimates and projections about our business and our industry. They include statements relating to future revenues, expenses and profitability, the future development and expected growth of our business, projected capital expenditures, attendance at movies generally or in any of the markets in which we operate, the number or diversity of popular movies released and our ability to successfully license and exhibit popular films, national and international growth in our industry, competition from other exhibitors and alternative forms of entertainment and determinations in lawsuits in which we are defendants. 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 and 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 28, 2019. 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.

Cinemark Holdings, Inc.

Financial and Operating Summary

(unaudited, in thousands, except per share amounts)


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
*Statement of income data:*
Revenues
Admissions	$	521,072		$	508,870		$	916,612		$	961,494
Concession		345,282			305,306			596,606			567,078
Other		91,402			74,877			159,261			140,452

Total revenues		957,756			889,053			1,672,479			1,669,024
Cost of operations
Film rentals and advertising		294,705			287,206			504,782			528,121
Concession supplies		62,717			51,033			105,788			91,857
Salaries and wages		108,910			100,344			205,046			193,502
Facility lease expense		89,480			81,190			175,093			163,281
Utilities and other		122,696			115,602			233,333			225,034
General and administrative expenses		44,324			43,031			82,300			85,415
Depreciation and amortization		64,573			64,290			129,035			128,685
Impairment of long-lived assets		12,494			2,788			18,078			3,379
Loss on disposal of assets and other		1,805			16,901			5,604			20,840

Total cost of operations		801,704			762,385			1,459,059			1,440,114

Operating income		156,052			126,668			213,420			228,910
Interest expense		(24,929	)		(28,466	)		(50,070	)		(55,581	)
Loss on debt amendments and refinancing		—			—			—			(1,484	)
Interest income		3,468			2,862			6,159			5,100
Foreign currency exchange loss		(401	)		(5,199	)		(379	)		(3,821	)
Distributions from NCM		2,146			3,424			6,694			9,782
Interest expense - NCM		(4,732	)		(4,913	)		(9,514	)		(9,892	)
Equity in income of affiliates		8,439			6,414			18,843			15,050

Income before income taxes		140,043			100,790			185,153			188,064
Income taxes		38,182			18,326			50,099			43,423

Net income	$	101,861		$	82,464		$	135,054		$	144,641
Less: Net income attributable to noncontrolling interests		890			329			1,355			485

Net income attributable to Cinemark Holdings, Inc.	$	100,971		$	82,135		$	133,699		$	144,156

Earnings per share attributable to Cinemark Holdings, Inc.’s common stockholders
Basic	$	0.86		$	0.70		$	1.14		$	1.23

Diluted	$	0.86		$	0.70		$	1.14		$	1.23

Weighted average shares outstanding - Diluted		116,548			116,268			116,524			116,238

Other Operating Data

(unaudited, in thousands)


	As of		As of
	June 30,		December 31,
	2019		2018
*Balance sheet data:*
Cash and cash equivalents	$	511,392	$	426,222
Theatre properties and equipment, net	$	1,716,647	$	1,833,133
Total assets	$	5,902,248	$	4,481,838
Long-term debt, including current portion, net of unamortized debt issue costs	$	1,779,968	$	1,780,611
Equity	$	1,527,719	$	1,456,117

Segment Information

(unaudited, in millions, except per patron data)


	U.S. Operating Segment							International Operating Segment												Consolidated
	Three Months Ended June 30,							Three Months Ended June 30,							Constant Currency ⁽¹⁾					Three Months Ended June 30,
Revenues	2019		2018		% Change			2019		2018		% Change			2019		% Change			2019		2018		% Change
Admissions revenues	$	407.0	$	408.9		(0.5	)%	$	114.1	$	100.0		14.1	%	$	136.2		36.2	%	$	521.1	$	508.9		2.4	%
Concession revenues	$	274.9	$	249.6		10.1	%	$	70.4	$	55.7		26.4	%	$	82.5		48.1	%	$	345.3	$	305.3		13.1	%
Other revenues	$	61.1	$	50.5		21.0	%	$	30.3	$	24.3		24.7	%	$	37.0		52.3	%	$	91.4	$	74.8		22.2	%
Total revenues	$	743.0	$	709.0		4.8	%	$	214.8	$	180.0		19.3	%	$	255.7		42.1	%	$	957.8	$	889.0		7.7	%
Attendance		50.1		50.6		(1.0	)%		30.1		25.8		16.7	%							80.2		76.4		5.0	%
Average ticket price	$	8.12	$	8.08		0.5	%	$	3.79	$	3.88		(2.3	)%	$	4.52		16.5	%	$	6.50	$	6.66		(2.4	)%
Concession revenues per patron	$	5.49	$	4.93		11.4	%	$	2.34	$	2.16		8.3	%	$	2.74		26.9	%	$	4.31	$	4.00		7.7	%


	U.S. Operating Segment				International Operating Segment						Consolidated
	Three Months Ended				Three Months Ended						Three Months Ended
	June 30,				June 30,						June 30,
Cost of Operations	2019		2018		2019		2018		Constant Currency ⁽¹⁾ 2019		2019		2018
Film rentals and advertising	$	237.6	$	238.7	$	57.1	$	48.4	$	68.3	$	294.7	$	287.1
Concession supplies	$	47.0	$	38.4	$	15.7	$	12.7	$	18.4	$	62.7	$	51.1
Salaries and wages	$	87.4	$	79.4	$	21.5	$	21.0	$	25.8	$	108.9	$	100.4
Facility lease expense	$	64.7	$	61.0	$	24.8	$	20.2	$	28.5	$	89.5	$	81.2
Utilities and other	$	89.3	$	83.7	$	33.4	$	31.9	$	40.0	$	122.7	$	115.6


	U.S. Operating Segment							International Operating Segment												Consolidated
	Six Months Ended June 30,							Six Months Ended June 30,							Constant Currency ⁽¹⁾					Six Months Ended June 30,
Revenues	2019		2018		% Change			2019		2018		% Change			2019		% Change			2019		2018		% Change
Admissions revenues	$	715.8	$	758.2		(5.6	)%	$	200.8	$	203.3		(1.2	)%	$	242.6		19.3	%	$	916.6	$	961.5		(4.7	)%
Concession revenues	$	474.3	$	453.4		4.6	%	$	122.3	$	113.7		7.6	%	$	145.2		27.7	%	$	596.6	$	567.1		5.2	%
Other revenues	$	107.7	$	93.8		14.8	%	$	51.6	$	46.6		10.7	%	$	64.3		38.0	%	$	159.3	$	140.4		13.5	%
Total revenues	$	1,297.8	$	1,305.4		(0.6	)%	$	374.7	$	363.6		3.1	%	$	452.1		24.3	%	$	1,672.5	$	1,669.0		0.2	%
Attendance		88.8		95.2		(6.7	)%		53.7		49.7		8.0	%							142.5		144.9		(1.7	)%
Average ticket price	$	8.06	$	7.96		1.3	%	$	3.74	$	4.09		(8.6	)%	$	4.52		10.5	%	$	6.43	$	6.64		(3.2	)%
Concession revenues per patron	$	5.34	$	4.76		12.2	%	$	2.28	$	2.29		(0.4	)%	$	2.70		17.9	%	$	4.19	$	3.91		7.2	%


	U.S. Operating Segment				International Operating Segment						Consolidated
	Six Months Ended				Six Months Ended						Six Months Ended
	June 30,				June 30,						June 30,
Cost of Operations	2019		2018		2019		2018		Constant Currency ⁽¹⁾ 2019		2019		2018
Film rentals and advertising	$	406.8	$	431.6	$	98.0	$	96.5	$	118.5	$	504.8	$	528.1
Concession supplies	$	79.0	$	66.9	$	26.8	$	25.0	$	31.8	$	105.8	$	91.9
Salaries and wages	$	164.2	$	151.1	$	40.8	$	42.4	$	49.9	$	205.0	$	193.5
Facility lease expense	$	129.6	$	122.0	$	45.5	$	41.3	$	53.0	$	175.1	$	163.3
Utilities and other	$	169.1	$	162.7	$	64.2	$	62.3	$	77.8	$	233.3	$	225.0

(1)

Constant currency amounts, which are non-GAAP measurements, were calculated using the average exchange rate for the corresponding month for 2018. We translate the results of our international operating 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 operating segment to present a period-to-period comparison of business performance that excludes the impact of foreign currency fluctuations.

Other Segment Information

(unaudited, in thousands)


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Adjusted EBITDA⁽¹⁾
U.S.	$	195,298	$	188,411	$	321,057	$	344,255
International		49,440		33,192		75,935		70,778

Total Adjusted EBITDA ⁽¹⁾	$	244,738	$	221,603	$	396,992	$	415,033

Capital expenditures
U.S.	$	45,591	$	59,675	$	97,930	$	129,646
International		12,009		22,751		17,239		32,943

Total capital expenditures	$	57,600	$	82,426	$	115,169	$	162,589

(1)

Adjusted EBITDA represents net income before income taxes, interest expense, interest income, foreign currency exchange loss, interest expense – NCM, equity in income of affiliates, loss on debt amendments and refinancing, other cash distributions from equity investees, depreciation and amortization, impairment of long-lived assets, loss on disposal of assets and other, changes in deferred lease expense, amortization of long-term prepaid rents, non-cash rent and share based awards compensation expense, as calculated below. Adjusted EBITDA is a non-GAAP financial measure commonly used in our industry and should not be construed as an alternative to net income as an indicator of operating performance or as an alternative to cash flow provided by operating activities as a measure of liquidity (as determined in accordance with GAAP). Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. We have included Adjusted EBITDA because we believe it provides management and investors with additional information to measure our performance and liquidity, estimate our value and evaluate our ability to service debt. In addition, we use Adjusted EBITDA for incentive compensation purposes.

Reconciliation of Adjusted EBITDA

(unaudited, in thousands)


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Net income	$	101,861		$	82,464		$	135,054		$	144,641
Add (deduct):
Income taxes		38,182			18,326			50,099			43,423
Interest expense ⁽²⁾		24,929			28,466			50,070			55,581
Other (income) expense		(6,774	)		836			(15,109	)		(6,437	)
Loss on debt amendments and refinancing		—			—			—			1,484
Other cash distributions from equity investees ⁽³⁾		5,323			3,932			19,665			16,255
Depreciation and amortization ⁽²⁾		64,573			64,290			129,035			128,685
Impairment of long-lived assets		12,494			2,788			18,078			3,379
Loss on disposal of assets and other		1,805			16,901			5,604			20,840
Non-cash rent ⁽⁷⁾		(1,331	)		—			(2,150	)		—
Deferred lease expenses - theatres ⁽²⁾⁽⁴⁾		—			(217	)		—			(468	)
Deferred lease expenses - projectors ⁽²⁾⁽⁵⁾		—			(232	)		—			(464	)
Amortization of long-term prepaid rents⁽²⁾⁽⁴⁾		—			597			—			1,236
Share based awards compensation expense ⁽⁶⁾		3,676			3,452			6,646			6,878

Adjusted EBITDA	$	244,738		$	221,603		$	396,992		$	415,033

(2)	Amounts for the three and six months ended June 30, 2019 were impacted by the adoption of ASC Topic 842 and the resulting change in the classification of certain of the Company’s leases.

(3)	Represents cash distributions received from equity investees that were recorded as a reduction of the respective investment balances.

(4)	Non-cash expense included in facility lease expense.

(5)	Non-cash expense included in utilities and other.

(6)	Non-cash expense included in general and administrative expenses.

(7)

The adoption of ASC Topic 842 impacted how the Company amortizes lease related assets and liabilities such as deferred lease expenses, favorable and unfavorable lease intangible assets, long-term prepaid rents and deferred lease incentives. Beginning January 1, 2019, these items are amortized to facility lease expense for theatre operating leases and utilities and other for equipment operating leases.