Cinemark Holdings, Inc. (NYSE:CNK) Q3 2022 Earnings Conference Call November 4, 2022 8:30 AM ET

Company Participants

Chanda Brashears – Senior Vice President-Investor Relations

Sean Gamble – President and Chief Executive Officer

Melissa Thomas – Chief Financial Officer

Conference Call Participants

Ben Swinburne – Morgan Stanley

Eric Handler – MKM Partners

Mike Ng – Goldman Sachs

Jim Goss – Barrington Research

David Karnovsky – JP Morgan

Operator

Greetings, and welcome to the Cinemark Holdings, Inc. Third Quarter 2022 Earnings Conference Call. At this time, all participants are on a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Ms. Chanda Brashears, Senior Vice President of Investor Relations. Thank you. Please go ahead.

Chanda Brashears

Good morning, everyone. I would like to welcome you to Cinemark Holdings, Inc.’s third quarter 2022 earnings release conference call hosted by Sean Gamble, President and Chief Executive Officer; and Melissa Thomas, Chief Financial Officer.

Before we begin, I would like to remind everyone that statements or comments made on this conference call may be forward-looking statements. Forward-looking statements may include, but are not necessarily limited to, financial projections or other statements of the company’s plans, objectives, expectations, or intentions.

These matters involve certain risks and uncertainties. The company's actual results may materially differ from forward-looking projections due to a variety of factors. Information concerning the factors could cause results to differ materially is contained in the company's most recently filed 10-K.

Also today’s call may include non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the company's most recently filed earnings release, 10-Q, and on the company's website at ir.cinemark.com.

In today's prepared commentary regarding comparisons, we will be referring back to the third quarter of 2019 unless otherwise indicated as the third quarter of 2021 continued to have meaningful COVID-related impacts. As we typically do, we filed our 10-Q this morning in conjunction with our earnings release.

Please note that this quarter, the 10-Q represents a combined Cinemark Holdings and Cinemark USA filings. While the differences between the two sets of financials are minimal, I wanted to proactively flag this change from prior periods.

With that, I would like to turn the call over to Sean Gamble.

Sean Gamble

Thank you, Chanda. Good morning, everyone. We appreciate you joining us today to discuss our third quarter 2022 results. I thought I would kick things off by addressing four topics that appear to be front and center on investor's minds. First, industry box office recovery; second, the impact of inflation as well as a potential recession on movie going; third, our ongoing Cinemark operating strategy this year, and finally, our near-term priorities to drive operating success and shareholder value going forward.