11:39 AM EST, 11/05/2025 (MT Newswires) -- Cinemark's (CNK) third-quarter revenue topped estimates, while the theater chain increased its quarterly dividend after eliminating all of its remaining debt related to the COVID-19 pandemic.

Revenue declined to $857.5 million from $921.8 million a year earlier, but surpassed the consensus on FactSet of $841.4 million. Net income plunged to $0.40 a share from $1.19.

"This quarter, we achieved a significant financial milestone by fully retiring the final portion of our pandemic-related debt, and, as of today, we have completely settled all associated warrants," Chief Executive Sean Gamble said in a statement.

The company's board approved a 12.5% increase in its annual dividend, resulting in a similar bump in its quarterly payout to $0.09 per share. The board authorized a new $300 million share repurchase program.

Cinemark's shares climbed 7.3% in midday trading. The stock has lost 7.3% so far this year.

The dividend increase and repurchase authorization signal the company's confidence in its cash flow generation capabilities "with a solid box office environment and a strong balance sheet," Barrington Research said in a note.

Admissions revenue slid to $429.7 million from $460.4 million, while concessions decreased to $336.7 million from $367.3 million, the company said. Overall attendance fell to 54.2 million from 60.4 million in the 2024 quarter, though average ticket prices increased to $7.93 from $7.62.

Attendance was still better than expected, which, combined with domestic ticket pricing, drove strong third-quarter results despite higher-than-expected film rent costs, Barrington analyst Patrick Sholl wrote.

"We once again delivered stand-out results in the third quarter, and we are enthusiastic about a strong finish to 2025 that is supported by one of the most robust and diverse holiday film slates we have seen in recent history," Cinemark's Gamble said.

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