Latest news with #CNK
Hindustan Times
19-05-2025
- Business
- Hindustan Times
Donald Trump's 5% tax on remittances: Should NRIs fast-track real estate investments back home?
Amid global uncertainty driven by conflicts, the impact of Artificial Intelligence on jobs, tariff wars, and other factors, many Indian immigrants are looking to transfer their savings back home, often investing in real estate. However, US President Donald Trump's decision to impose a 5% tax on international remittances sent by non-citizens is likely to significantly affect these investments. Tax experts say the proposed levy under new Republican tax provisions aims to collect tax at source on remittances sent from the United States to foreign countries, potentially reducing the funds available for property purchases in India. 'While US citizens may claim credit for such amounts against their tax liabilities, non-citizens would effectively bear this as a direct tax on outward remittances,' says Pallav Narang, Partner, CNK, an all services firm. The global uncertainty resulting from a series of conflicts, the impact of AI on employment, the tariff war, and other factors, the majority of Indian immigrants desire to transfer their savings to their homeland. 'A 5% loss of this remittance money is a substantial amount, given the trend of remittances to India surpassing $125 billion in CY 2024,' says Suneel Dasari, CEO, All remittances transferred by a non-immigrant visa holder, such as H1B visa recipients and Green Card holders, would be subject to a 5% tax under the proposed Trump law. The cost of purchasing property in India for Non-Resident Indians (NRIs) may increase due to new tax implications. Previously, an NRI looking to buy a property worth $100,000—equivalent to approximately ₹80 lakh (at ₹80 to a dollar)—could remit ₹80 lakh from their taxed income in the US to complete the purchase. However, under the updated regulations, they must now remit ₹84 lakh, which includes an additional 5% tax. This increase in remittance, coupled with the extra 5% cost, raises the overall financial burden for NRIs investing in Indian real estate, making property acquisition notably more expensive. Any monthly remittance sent from the US to India to cover EMIs would attract the 5% (if the proposal is passed). This tax would apply to the total remittance amount, so if you're sending ₹1 lakh per month, you'll need to send ₹1.05 lakh, of which ₹5,000 would go toward the tax, raising your effective EMI cost. If you are planning to purchase your home through EMIs, you may consider remitting a lump sum that covers a year's worth of EMIs (or more) before the new rule is implemented. India imposes a remittance tax, which functions as an advance tax collected through the Electronic Clearing System (ECS). This tax is refundable, as taxpayers can claim a credit for it, effectively reducing their financial burden. In contrast, the proposed 5% tax in the United States is an indirect tax that offers no credit or refund to Non-Resident Indians (NRIs). Also Read: 5 Things NRIs Need To Know Before Buying Property In India 'Consequently, this tax represents an additional, non-recoverable cost for NRIs, increasing the expense of remitting funds for investments such as property purchases in India,' says Vivek Jalan, partner, Tax Connect Advisory Services. 'Whether or not one intends to purchase property, any planned remittances should be made to India immediately. Doing so before the proposed tax comes into effect can help avoid the additional 5% levy,' says Jalan. If you were planning a property purchase in the next 6–12 months, it may be prudent to advance your remittance schedule to lock in lower overall costs. This can help you avoid the non-refundable 5% tax, which would otherwise increase your acquisition cost. Anagh Pal is a personal finance expert who writes on real estate, tax, insurance, mutual funds and other topics
The Independent
04-05-2025
- Health
- The Independent
Assisted dying bill ‘will put pressure on vulnerable' to end lives early, campaigners warn
A campaign group has claimed that the impact assessment produced by the government on assisted dying legislation proves that there will be a financial incentive to end people's lives early. The claim by the group Care Not Killing (CNK) came after the government identified at least £59.6m savings a year to be made by allowing assisted deaths. CNK believes the real amount is much bigger because savings in benefits cannot be quantified. However, the bill's sponsor Labour MP Kim Leadbeater has warned: 'The cost in human terms of failing to act would be immense.' She said: 'It is difficult, if not impossible, to put a price on correcting injustice and providing dignity to our fellow citizens in their final weeks and months, but it is of course right that we look at what effect changing the law would have more widely.' With the bill set to be debated again in the Commons in just two weeks, her supporters argue that the government assessment has confirmed that assisted dying can be delivered safely, ethically, and compassionately in England and Wales. But Dr Gordon Macdonald, chief executive of CNK warned that financial incentives could encourage the NHS to push people to choose to end their lives or for people with diseases to feel they are a burden. He noted that the impact assessment confirms that changing the law will save money, both health care costs of up to £59.6m and a reduction in benefit payments which is unquantified. He claimed: 'In the US State of Oregon, the model for the current bill in Parliament, a majority of those ending their lives cite fear of being a burden on their families, carers or finances as a reason for their decision. 'In Canada, politicians have talked about the considerable savings made to regional health care budgets since introducing euthanasia, with some estimates suggesting up to $500m, regrettably this includes removing funding from a hospice that refused to kill their patients. 'In Holland, not only have the Dutch saved money, but chillingly, they talked about how this policy also increases the availability of organs for transplant, something Dr David Shaw and Professor Alec Morton, two British academics argued for in 2020.' Dr Macdonald highlighted how the hospice movement has a £150m blackhole in its budget, when up to one in four Brits who would benefit from palliative care but are not currently receiving it. He said: 'Introducing so-called assisted dying would be an incredibly dangerous policy that would put pressure on vulnerable, elderly and disabled people to end their lives prematurely. We need to fix the UK's broken and patchy palliative care system so everyone can have a dignified death. We need better care not killing.' However, Humanists UK and My Death, My Decision who support the bill have argued that the impact assessment has dealt with fears about assisted dying. They noted that overall there are predicted to be cost savings for the state if the law does change – though the sums of at most 'tens of millions are negligible in the context of the £180bn annual NHS spend.' They added: 'Regardless, the decision on whether to change the law should not be about economics, but on whether assisted dying is the right approach in principle.' Andrew Copson, chief executive of Humanists UK, said: 'Assisted dying isn't untested. Legislation is already working in over 31 jurisdictions across the world, where implementation in Australia, New Zealand, the US, and Europe has shown it to be safe, compassionate, and practical. It's time for Parliament to grant people the dignity and autonomy they deserve at the end of life.' Claire Macdonald, director at My Death, My Decision, added: 'These reports confirm what we have long known – that our current laws are failing dying people and that the current status quo is unacceptable. Every day we delay is another day someone is denied the choice to die with dignity, free from prolonged pain and suffering.'
Yahoo
03-05-2025
- Business
- Yahoo
Cinemark Holdings Inc (CNK) Q1 2025 Earnings Call Highlights: Record Concession Sales Amidst ...
Worldwide Revenue: $540.7 million for Q1 2025. Adjusted EBITDA: $36.4 million with a 6.7% margin. Domestic Admissions Revenue: $207.6 million. Average Ticket Price: $10.08, a 3% increase year over year. Domestic Concession Revenue: $164.4 million, with a per cap of $7.98, a 5% increase year over year. International Revenue: $123.6 million, with an adjusted EBITDA margin of 13.3%. Net Loss: $38.9 million, resulting in a loss per share of $0.32. Cash Balance: $699 million at the end of the quarter. Free Cash Flow: Negative $141 million for the quarter. Capital Expenditures: $22.1 million in Q1 2025. Share Repurchases: $200 million executed, repurchasing 7.93 million shares. Warning! GuruFocus has detected 6 Warning Sign with CNK. Release Date: May 02, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cinemark Holdings Inc (NYSE:CNK) exceeded year-over-year North American box office performance by 160 basis points and surpassed its Latin American benchmark by nearly 60 basis points. The company maintained industry-leading market share gains, including approximately 100 basis points of structural improvement relative to pre-pandemic levels. Cinemark Holdings Inc (NYSE:CNK) achieved a new record high concession per cap, driven by increased incidence rates and strategic pricing actions. The company executed a $200 million share repurchase program, representing the first stock buyback in its history, which helped manage potential dilution related to convertible notes. Cinemark Holdings Inc (NYSE:CNK) paid its first quarterly dividend since the pandemic, reflecting confidence in its financial health and future prospects. North American industry box office declined 12% compared to the same period in 2024, partly due to lingering effects of Hollywood strikes and fewer tentpole releases. The company's worldwide first-quarter revenue was $541 million, with adjusted EBITDA of $36 million and an adjusted EBITDA margin of 6.7%, indicating pressure from lower attendance levels. Concession costs as a percent of concession revenue increased by 150 basis points due to a higher mix of merchandise and ongoing inflationary pressures. Global salaries and wages increased by 4% compared to the first quarter of 2024, driven by wage and benefit inflation and higher workers' compensation costs. Free cash flow was negative $141 million in the quarter, reflecting a soft box office environment, semi-annual interest payments, and seasonal working capital headwinds. Q: Given the strong box office expectations for the rest of the year, why not announce another share buyback program? A: Sean Gamble, CEO, explained that while they are pleased with the recent buyback, they are focused on maintaining their net leverage ratio within their target range. Melissa Thomas, CFO, added that they are prioritizing the upcoming convertible note settlement in August, but they are not ruling out future buybacks. Q: Can you provide insights on Amazon and Apple's plans for theatrical releases? A: Sean Gamble, CEO, expressed optimism about Amazon's commitment to releasing 14 to 16 films annually by 2027, highlighting their investment in production and distribution. Regarding Apple, he noted their focus on the upcoming F1 film and their potential long-term plans for theatrical releases. Q: How is Cinemark addressing the issue of film windowing? A: Sean Gamble, CEO, stated that discussions are ongoing with studios to evaluate the impact of shortened windows on consumer behavior. He emphasized the importance of a flexible window structure, suggesting a 45-day average as a potential target to maximize value without confusing consumers. Q: What are the expectations for concession per cap growth? A: Melissa Thomas, CFO, expects moderate year-over-year growth in domestic concession per cap for 2025, driven by initiatives to increase incidence rates and optimize pricing. She noted that per caps may fluctuate with film mix but anticipates continued growth. Q: How is Cinemark handling potential economic downturns and their impact on moviegoing? A: Sean Gamble, CEO, reported no signs of economic factors adversely affecting moviegoing. He noted strong performance in the second quarter, with high attendance and concession sales, and emphasized the affordability of moviegoing as a resilient entertainment option during economic strains. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
02-05-2025
- Business
- Yahoo
Analysts Estimate Cinemark Holdings (CNK) to Report a Decline in Earnings: What to Look Out for
The market expects Cinemark Holdings (CNK) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on May 2, 2025, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This movie theater owner is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -215.8%. Revenues are expected to be $553.82 million, down 4.4% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 8.65% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Cinemark, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -34.26%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Cinemark will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Cinemark would post earnings of $0.39 per share when it actually produced earnings of $0.33, delivering a surprise of -15.38%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Cinemark doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Film and Television Production and Distribution industry, Live Nation (LYV), is soon expected to post loss of $0.27 per share for the quarter ended March 2025. This estimate indicates a year-over-year change of +49.1%. Revenues for the quarter are expected to be $3.5 billion, down 7.8% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Live Nation has been revised 1.4% down to the current level. Nevertheless, the company now has an Earnings ESP of -39.03%, reflecting a lower Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Live Nation will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cinemark Holdings Inc (CNK) : Free Stock Analysis Report Live Nation Entertainment, Inc. (LYV) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Washington Post
02-05-2025
- Business
- Washington Post
Cinemark: Q1 Earnings Snapshot
PLANO, Texas — PLANO, Texas — Cinemark Holdings Inc. (CNK) on Friday reported a loss of $38.9 million in its first quarter. The Plano, Texas-based company said it had a loss of 32 cents per share. The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 32 cents per share.
