{"success":true,"data":{"pressRelease":{"id":"36556","rtpr_id":"nGNX6F6QdJ","ticker":"RDI","exchange":"NASDAQ","all_tickers":["RDI"],"title":"Reading International Reports First Quarter 2026 Results","author":"Globe Newswire","published_at":"2026-05-15T13:00:01.448Z","article_body":"Earnings Call Webcast to Discuss First Quarter Financial Results \nScheduled to Post to Corporate Website on Tuesday, May 19, 2026\n\nNEW YORK, May 15, 2026 (GLOBE NEWSWIRE) -- Reading International, Inc.\n(NASDAQ: RDI) (“Reading” or our “Company”), an internationally\ndiversified cinema and real estate company with operations and assets in the\nUnited States, Australia, and New Zealand, today announced its results for the\nFirst Quarter ended March 31, 2026.\n\nKey Financial Summary Results –First Quarter 2026\n* Total Revenues of $45.1 million increased by 12% from $40.2 million in Q1\n2025.\n* Representing the best result for this metric since Q1 2019, a reported\nOperating Loss of $3.6 million marks a 47% improvement from a $6.9 million\nOperating Loss reported in Q1 2025.\n* EBITDA decreased to a negative EBITDA of $0.8 million compared to a positive\nEBITDA of $2.9 million in Q1 2025, which 2025 quarter reflected a gain on sale\nof $6.6 million from the sale of our real estate assets in Wellington, New\nZealand.\n* Taking into account that Q1 2025 gain on sale, our Basic Loss per Share of\n$0.36 declined by 69% compared to a Basic Loss per Share of $0.21 in Q1 2025.\n* Taking into account that Q1 2025 gain on sale, our Net Loss Attributable to\nReading of $8.1 million weakened by 71% compared to a loss of $4.8 million in\nQ1 2025.\nIn Q1 2026, both the Australian and New Zealand dollar average exchange rates\nstrengthened against the U.S. dollar by 10.8% and 3.9%, respectively, compared\nto Q1 2025. With 53% of our Total Revenues being generated by our Australian\nand New Zealand businesses this quarter, the stronger currency positively\nimpacted our U.S. reported operating results. This exchange ratio improvement\ntrend has continued since the end of the quarter.   \n\nPresident and Chief Executive Officer, Ellen Cotter said, “We’re pleased\nto report that the Company achieved its strongest first quarter Operating\nIncome result since 2019 pre-pandemic. This strong performance was powered by\na 14% increase in our global cinema revenue, attributable to a stronger movie\nline-up from movies like Project Hail Mary, Wuthering Heights, GOAT, and\nHoppers, along with solid Q4 2025 holdovers like Avatar: Fire and Ash and\nZootopia 2. Also, reflective of the successful execution of our key strategic\ninitiatives, each of our cinema divisions delivered improved operating income\nresults, with our Australian cinemas delivering a much improved first quarter.\nIn addition to our U.S. and Australian cinema divisions reporting the highest\never first quarter Food & Beverage spend per head, all cinema divisions\ncontinued to add members to their loyalty programs through creative\ninitiatives. We expect our positive momentum to continue through 2026 as the\nremaining movie slate looks extremely promising with titles like Toy Story 5,\nMoana, Minions & Monsters, The Odyssey, Spider-Man: Brand New Day, Avengers:\nDoomsday and Dune: Part Three.\n\nOur Q1 2026 global Real Estate division segment revenues and operating income\ndecreased against Q1 2025. The performance reflects the execution of our\nstrategy to raise liquidity through select asset monetization, most notably\nthe 2025 sales of our real estate assets in Wellington, New Zealand and\nTownsville, Australia. Our U.S. Real Estate business supported the global Real\nEstate division by reporting its highest ever first quarter U.S. Real Estate\nrevenue, led by strengthening in our Live Theatre revenue.\n\nLastly, our improved Q1 2026 Operating Loss also reflects an 8% reduction in\nour global General & Administrative costs.”\n\nCotter continued, “During the first quarter 2026, in an effort to bolster\nour liquidity, our Board directed Management to begin efforts to sell the\nCinemas 1,2,3 building in NYC. And, as of the date of this Release, we are\nunder contract to sell our Napier property in New Zealand with an expected\ncinema lease back.\n\nWith a solid first quarter operational start, a balance sheet which continues\nto be anchored by a strong real estate portfolio, and our global cinemas\npoised to capitalize on an exciting and robust movie slate through the\nremainder of the year, while no assurances can be given, we believe our\nCompany is well-positioned to deliver a strong 2026.”\n\nCinema Business\n* With respect to Q1 2026, and compared to Q1 2025, our global cinemas\nreported (i) $41.5 million in cinema revenue, representing a 14% increase, and\n(ii) an operating loss of $1.3 million, representing a 70% improvement.\n* These positive results were driven by:\n\n(i) Increased attendance at our U.S. cinemas as a result of an improved Q1\n2026 movie slate, despite a 7.3% reduction in our U.S. screen count due to the\n2025 closure of an underperforming cinema; \n(ii) Increased attendance in our Australian cinemas as a result of an improved\nQ1 2026 movie slate, coupled with creative and compelling loyalty program\ninitiatives; \n(iii) Improved F&B sales per person (“SPP”) for Q1 2026: (a) at AU$8.09,\nour Australian Cinema F&B SPP, represented the highest first quarter ever for\nour Australian Cinemas, and (b) at $8.38, our U.S. Cinema F&B SPP also ranked\nthe highest first quarter during which our U.S. circuit was fully operating\n(i.e. excluding pandemic closure periods); and \n(iv) The strengthening of the Australian and New Zealand currencies during the\nfirst quarter 2026.\n* We continue to work with our global cinema landlords to align our occupancy\ncosts with current operating conditions to help manage inflationary pressures\nand rising labor and operating costs, especially in the State of Hawaii, where\nwe have experienced a significantly higher increase in operating expenses\ncompared to the U.S. Mainland.\nReal Estate Business\n* With respect to Q1 2026, and compared to Q1 2025, our global Real Estate\nbusiness reported (i) $4.6 million of Real Estate revenue representing a\ndecrease of 5%, and (ii) operating income of $1.4 million representing a 13%\ndecrease.\n* Our Q1 2026 U.S. Real Estate revenues of $1.8 million represented a 13%\nincrease from Q1 2025 primarily due to the improved performance of our Live\nTheatre assets in NYC, including our Minetta Lane Theatre, which generated its\nbest first quarter in the Company’s history.\n* As of December 2025, we own 100% of our Cinemas 1,2,3 property. In order to\nimprove our liquidity conditions, during the first quarter of 2026, our Board\ndirected management to begin efforts to sell this property.\n* In New Zealand, we signed a purchase and sale agreement on March 4, 2026, to\nmonetize our Napier property. The transaction has proceeded to the due\ndiligence period. The transaction contemplates a lease back to us of the\ncinema at that location.\n* As of March 31, 2026, our combined Australian and New Zealand property\nportfolio has 58 third-party tenants, with a portfolio occupancy rate of 98%\nand total leased gross lettable area of 156,171 SF.\nBalance Sheet and Liquidity\n\nAs of March 31, 2026:\n* Our cash and cash equivalents were $5.5 million.\n* Our assets had a total book value of $431.5 million, compared to a book\nvalue of $434.9 million as of December 31, 2025.\n* Our total gross debt of $184.6 million decreased by $0.5 million from\nDecember 31, 2025.\n* With respect to our debt position: * Continuing our efforts to reduce our\noverall interest expense, our Q1 2026 interest expense decreased by 11%\ncompared to Q1 2025.\n* On February 6, 2026, we executed an amendment to defer a principal payment\nrelated to our 44 Union Square loan, which we paid on March 13, 2026.\n* On February 27, 2026, we executed an amendment to modify the principal\nrepayment schedule of our Bank of America/Bank of Hawaii facility.\n* On March 31, 2026, we executed an amendment to reduce our NAB loan’s\nminimum liquidity requirement for a limited defined period in 2026.\n* We are currently working to refinance the loan on our live theatre buildings\nin New York City.\nConference Call and Webcast\n\nWe plan to post our pre-recorded conference call and audio webcast on our\ncorporate website on Tuesday, May 19, 2026, which will feature prepared\nremarks from Ellen Cotter, President and Chief Executive Officer; and Gilbert\nAvanes, Executive Vice President, Chief Financial Officer and Treasurer.\n\nA pre-recorded question and answer session will follow our formal remarks.\nQuestions and topics for consideration should be submitted to\nInvestorRelations@readingrdi.com by Monday, May 18, 2026, by 5:00 p.m. Eastern\nTime. The audio webcast will be able to be accessed by visiting\nhttps://investor.readingrdi.com/financial-information/quarterly-results.\n\nAbout Reading International, Inc.\n\nReading International, Inc. (NASDAQ: RDI), an internationally diversified\ncinema and real estate company operating through various domestic and\ninternational subsidiaries, is a leading entertainment and real estate\ncompany, engaging in the development, ownership, and operation of cinemas and\nretail and commercial real estate in the United States, Australia, and New\nZealand.\n\nReading’s cinema subsidiaries operate under multiple cinema brands: Reading\nCinemas, Consolidated Theatres and the Angelika brand. Its live theatres are\nowned and operated by its Liberty Theaters subsidiary, under the Orpheum and\nMinetta Lane names. Its signature property developments, including Newmarket\nVillage in Brisbane, Australia, and 44 Union Square in New York City, are\nmaintained in special purpose entities.\n\nAdditional information about Reading can be obtained from our Company's\nwebsite: http://www.readingrdi.com.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis earnings release contains a variety of forward-looking statements as\ndefined by the Securities Litigation Reform Act of 1995, including those\nrelated to our expected operating results; our belief regarding the quality,\nthe quantity and the appeal of upcoming movie releases in the remainder of\n2026 and our revenue expectations relating to such movie releases; our\npositioning for future periods; our expectations regarding the sale and lease\nback of our Napier property in New Zealand; our expectations regarding our\nability to refinance the loan on our live theater buildings in New York City;\nand our ability to successfully market and sell our Cinemas 1,2,3 property.\nYou can recognize these statements by our use of words, such as “may,”\n“will,” “expect,” “believe,” and “anticipate” or other similar\nterminology.\n\nGiven the variety and unpredictability of the factors that will ultimately\ninfluence our businesses and our results of operation, no guarantees can be\ngiven that any of our forward-looking statements will ultimately prove to be\ncorrect. Actual results will undoubtedly vary and there is no guarantee as to\nhow our securities will perform either when considered in isolation or when\ncompared to other securities or investment opportunities.\n\nForward-looking statements made by us in this earnings release are based only\non information currently available to us and speak only as of the date on\nwhich they are made. We undertake no obligation to publicly update or to\nrevise any of our forward-looking statements, whether as a result of new\ninformation, future events or otherwise, except as may be required under\napplicable law. Accordingly, you should always note the date to which our\nforward-looking statements speak.\n\nBecause forward-looking statements relate to the future, they are subject to\ninherent uncertainties, risks and changes in circumstances that are difficult\nto predict and many of which are outside of our control. Therefore, you should\nnot rely on any of these forward-looking statements. Important factors that\ncould cause our actual results and financial condition to differ materially\nfrom those indicated in the forward-looking statements include, among others,\nthose factors discussed throughout Part I, Item 1A – Risk Factors and Part\nII Item 7 – Management's Discussion and Analysis of Financial Condition and\nResults of Operations of our Annual Report on Form 10-K for the most recently\nended fiscal year, as well as the risk factors set forth in any other filings\nmade under the Securities Act of 1934, as amended, including any of our\nQuarterly Reports on Form 10-Q, for more information.\n\n Reading International, Inc. and Subsidiaries Unaudited Consolidated Statements of Operations (Unaudited; U.S. dollars in thousands, except per share data) \n \n Three Months Ended \n March 31, \n 2026 2025 \n Revenue \n Cinema $ 41,461 $ 36,404 \n Real estate 3,663 3,765 \n Total revenue 45,124 40,169 \n Costs and expenses \n Cinema (38,894 ) (36,577 ) \n Real estate (1,886 ) (1,955 ) \n Depreciation and amortization (3,230 ) (3,375 ) \n General and administrative (4,746 ) (5,153 ) \n Total costs and expenses (48,756 ) (47,060 ) \n Operating income (loss) (3,632 ) (6,891 ) \n Interest expense, net (4,228 ) (4,742 ) \n Gain (loss) on sale of assets — 6,526 \n Other income (expense) (488 ) (331 ) \n Income (loss) before income tax expense and equity earnings of unconsolidated joint ventures (8,348 ) (5,438 ) \n Equity earnings of unconsolidated joint ventures 71 23 \n Income (loss) before income taxes (8,277 ) (5,415 ) \n Income tax benefit (expense) 143 472 \n Net income (loss) $ (8,134 ) $ (4,943 ) \n Less: net income (loss) attributable to noncontrolling interests 13 (191 ) \n Net income (loss) attributable to Reading International, Inc. $ (8,147 ) $ (4,752 ) \n Basic earnings (loss) per share $ (0.36 ) $ (0.21 ) \n Diluted earnings (loss) per share $ (0.36 ) $ (0.21 ) \n Weighted average number of shares outstanding–basic 22,717,260 22,426,184 \n Weighted average number of shares outstanding–diluted 22,717,260 22,426,184 \n \n\n\n\n Reading International, Inc. and Subsidiaries Consolidated Balance Sheets (U.S. dollars in thousands, except share information) \n \n \n March 31, December 31, \n 2026 2025 \n ASSETS (Unaudited) \n Current Assets: \n Cash and cash equivalents $ 5,524 $ 10,531 \n Restricted cash 2,342 2,327 \n Receivables 4,270 4,553 \n Inventories 1,629 1,664 \n Prepaid and other current assets 6,610 2,281 \n Asset groups held for sale 24,451 460 \n Total current assets 44,826 21,816 \n Operating properties, net 182,957 207,974 \n Operating lease right-of-use assets 161,932 159,659 \n Investment in unconsolidated joint ventures 3,320 3,264 \n Goodwill 24,818 24,603 \n Intangible assets, net 1,551 1,576 \n Deferred tax asset, net 2,499 2,619 \n Other assets 9,577 13,418 \n Total assets $ 431,480 $ 434,929 \n LIABILITIES AND STOCKHOLDERS' EQUITY \n Current Liabilities: \n Accounts payable and accrued liabilities $ 59,535 $ 52,826 \n Film rent payable 3,280 6,973 \n Debt - current portion 35,513 35,999 \n Derivative financial instruments - current portion 16 56 \n Taxes payable - current 211 545 \n Deferred current revenue 11,220 11,327 \n Operating lease liabilities - current portion 20,392 20,081 \n Other current liabilities 782 774 \n Total current liabilities 130,949 128,581 \n Debt - long-term portion 114,548 114,350 \n Subordinated debt, non-current portion 27,672 27,617 \n Noncurrent tax liabilities 6,384 6,434 \n Operating lease liabilities - non-current portion 164,128 162,919 \n Other liabilities 13,186 13,126 \n Total liabilities $ 456,867 $ 453,027 \n Commitments and contingencies (Note 16) \n Stockholders’ equity: \n Class A non-voting common shares, par value $0.01, 100,000,000 shares authorized, \n 33,972,781 issued and 21,036,670 outstanding at March 31, 2026 and \n 33,972,781 issued and 21,036,670 outstanding at December 31, 2025 241 241 \n Class B voting common shares, par value $0.01, 20,000,000 shares authorized and \n 1,680,590 issued and outstanding at March 31, 2026 and December 31, 2025 17 17 \n Nonvoting preferred shares, par value $0.01, 12,000 shares authorized and no issued \n or outstanding shares at March 31, 2026 and December 31, 2025 — — \n Additional paid-in capital 155,822 155,454 \n Retained earnings (accumulated deficit) (137,077 ) (128,930 ) \n Treasury shares, at cost (40,407 ) (40,407 ) \n Accumulated other comprehensive income (4,141 ) (4,614 ) \n Total Reading International, Inc. stockholders’ equity (25,545 ) (18,239 ) \n Noncontrolling interests 158 141 \n Total stockholders’ equity (25,387 ) (18,098 ) \n Total liabilities and stockholders’ equity $ 431,480 $ 434,929 \n \n\n\n\n Reading International, Inc. and Subsidiaries Segment Results (Unaudited; U.S. dollars in thousands) \n \n Three Months Ended \n March 31, % Change Favorable/ \n (Dollars in thousands) 2026 2025 (Unfavorable) \n Segment revenue \n Cinema \n United States $ 19,463 $ 18,295 6 % \n Australia 19,706 15,682 26 % \n New Zealand 2,292 2,427 (6 ) % \n Total $ 41,461 $ 36,404 14 % \n Real estate \n United States $ 1,800 $ 1,587 13 % \n Australia 2,582 3,015 (14 ) % \n New Zealand 214 243 (12 ) % \n Total $ 4,596 $ 4,845 (5 ) % \n Inter-segment elimination (933 ) (1,080 ) 14 % \n Total segment revenue $ 45,124 $ 40,169 12 % \n Segment operating income (loss) \n Cinema \n United States $ (1,555 ) $ (3,146 ) 51 % \n Australia 426 (974 ) >100 % \n New Zealand (213 ) (355 ) 40 % \n Total $ (1,342 ) $ (4,475 ) 70 % \n Real estate \n United States $ 155 $ 143 8 % \n Australia 1,166 1,545 (25 ) % \n New Zealand 69 (94 ) >100 % \n Total $ 1,390 $ 1,594 (13 ) % \n Total segment operating income (loss) ((1)) $ 48 $ (2,881 ) >100 % \n \n (1) Total segment operating income is a non-GAAP financial measure. See the discussion of non-GAAP financial measures that follows. \n\n\n\n Reading International, Inc. and Subsidiaries Reconciliation of EBITDA and Adjusted EBITDA to Net Income (Loss) (Unaudited; U.S. dollars in thousands) \n \n \n Three Months Ended \n March 31, \n (Dollars in thousands) 2026 2025 \n Net Income (loss) attributable to Reading International, Inc. $ (8,147 ) $ (4,752 ) \n Add: Interest expense, net 4,228 4,742 \n Add: Income tax expense (benefit) (143 ) (472 ) \n Add: Depreciation and amortization 3,230 3,375 \n EBITDA $ (832 ) $ 2,893 \n Adjustments for: \n None — — \n Adjusted EBITDA $ (832 ) $ 2,893 \n \n\n\n\n Reading International, Inc. and Subsidiaries Reconciliation of Total Segment Operating Income (Loss) to Income (Loss) before Income Taxes (Unaudited; U.S. dollars in thousands) \n \n Three Months Ended \n (Dollars in thousands) March 31, 2026 March 31, 2025 \n Segment operating income (loss) $ 48 $ (2,881 ) \n Unallocated corporate expense: \n Depreciation and amortization expense (96 ) (133 ) \n General and administrative expense (3,584 ) (3,877 ) \n Interest expense, net (4,228 ) (4,742 ) \n Equity earnings (loss) of unconsolidated joint ventures 71 23 \n Gain (loss) on sale of assets — 6,526 \n Other (expense) income (488 ) (331 ) \n Income (loss) before income taxes $ (8,277 ) $ (5,415 ) \n \n\nNon-GAAP Financial Measures\n\nThis Earnings Release presents total segment operating income (loss), EBITDA,\nand Adjusted EBITDA, which are important financial measures for our Company,\nbut are not financial measures defined by U.S. GAAP.\n\nThese measures should be reviewed in conjunction with the relevant U.S. GAAP\nfinancial measures and are not presented as alternative measures of earnings\n(loss) per share, cash flows or net income (loss) as determined in accordance\nwith U.S. GAAP. Total segment operating income (loss) and EBITDA, as we have\ncalculated them, may not be comparable to similarly titled measures reported\nby other companies.\n\nTotal segment operating income (loss) – We evaluate the performance of our\nbusiness segments based on segment operating income (loss), and management\nuses total segment operating income (loss) as a measure of the performance of\noperating businesses separate from non-operating factors. We believe that\ninformation about total segment operating income (loss) assists investors by\nallowing them to evaluate changes in the operating results of our Company’s\nbusiness separate from non-operational factors that affect net income (loss),\nthus providing separate insight into both operations and the other factors\nthat affect reported results.\n\nEBITDA – We use EBITDA in the evaluation of our Company’s performance\nsince we believe that EBITDA provides a useful measure of financial\nperformance and value. We believe this principally for the following reasons:\n\nWe believe that EBITDA is an accepted industry-wide comparative measure of\nfinancial performance. It is, in our experience, a measure commonly adopted by\nanalysts and financial commentators who report upon the cinema exhibition and\nreal estate industries, and it is also a measure used by financial\ninstitutions in underwriting the creditworthiness of companies in these\nindustries. Accordingly, our management monitors this calculation as a method\nof judging our performance against our peers, market expectations, and our\ncreditworthiness. It is widely accepted that analysts, financial commentators,\nand persons active in the cinema exhibition and real estate industries\ntypically value enterprises engaged in these businesses at various multiples\nof EBITDA. Accordingly, we find EBITDA valuable as an indicator of the\nunderlying value of our businesses. We expect that investors may use EBITDA to\njudge our ability to generate cash, as a basis of comparison to other\ncompanies engaged in the cinema exhibition and real estate businesses and as a\nbasis to value our company against such other companies.\n\nEBITDA is not a measurement of financial performance under generally accepted\naccounting principles in the United States of America and it should not be\nconsidered in isolation or construed as a substitute for net income (loss) or\nother operations data or cash flow data prepared in accordance with generally\naccepted accounting principles in the United States for purposes of analyzing\nour profitability. The exclusion of various components, such as interest,\ntaxes, depreciation, and amortization, limits the usefulness of these measures\nwhen assessing our financial performance, as not all funds depicted by EBITDA\nare available for management’s discretionary use. For example, a substantial\nportion of such funds may be subject to contractual restrictions and\nfunctional requirements to service debt, to fund necessary capital\nexpenditures, and to meet other commitments from time to time.\n\nEBITDA also fails to take into account the cost of interest and taxes.\nInterest is clearly a real cost that for us is paid periodically as accrued.\nTaxes may or may not be a current cash item but are nevertheless real costs\nthat, in most situations, must eventually be paid. A company that realizes\ntaxable earnings in high tax jurisdictions may, ultimately, be less valuable\nthan a company that realizes the same amount of taxable earnings in a low tax\njurisdiction. EBITDA fails to take into account the cost of depreciation and\namortization and the fact that assets will eventually wear out and have to be\nreplaced.\n\nAdjusted EBITDA – using the principles we consistently apply to determine\nour EBITDA, we further adjusted the EBITDA for certain items we believe to be\nexternal to our core business and not reflective of our costs of doing\nbusiness or results of operation. Specifically, we have adjusted for (i) legal\nexpenses relating to extraordinary litigation, and (ii) any other items that\ncan be considered non-recurring in accordance with the two-year SEC\nrequirement for determining an item is non-recurring, infrequent or unusual in\nnature.\n\nFor more information, contact:\nGilbert Avanes – EVP, CFO, and Treasurer\n(213) 235-2240\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/78a61d1e-206f-4345-86b7-e0734b3e7e3b)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX6F6QdJ","title":"Reading International Reports First Quarter 2026 Results","author":"Globe Newswire","ticker":"RDI","created":"2026-05-15T13:00:01.448Z","tickers":["RDI"],"exchange":"NASDAQ","article_body":"Earnings Call Webcast to Discuss First Quarter Financial Results \nScheduled to Post to Corporate Website on Tuesday, May 19, 2026\n\nNEW YORK, May 15, 2026 (GLOBE NEWSWIRE) -- Reading International, Inc.\n(NASDAQ: RDI) (“Reading” or our “Company”), an internationally\ndiversified cinema and real estate company with operations and assets in the\nUnited States, Australia, and New Zealand, today announced its results for the\nFirst Quarter ended March 31, 2026.\n\nKey Financial Summary Results –First Quarter 2026\n* Total Revenues of $45.1 million increased by 12% from $40.2 million in Q1\n2025.\n* Representing the best result for this metric since Q1 2019, a reported\nOperating Loss of $3.6 million marks a 47% improvement from a $6.9 million\nOperating Loss reported in Q1 2025.\n* EBITDA decreased to a negative EBITDA of $0.8 million compared to a positive\nEBITDA of $2.9 million in Q1 2025, which 2025 quarter reflected a gain on sale\nof $6.6 million from the sale of our real estate assets in Wellington, New\nZealand.\n* Taking into account that Q1 2025 gain on sale, our Basic Loss per Share of\n$0.36 declined by 69% compared to a Basic Loss per Share of $0.21 in Q1 2025.\n* Taking into account that Q1 2025 gain on sale, our Net Loss Attributable to\nReading of $8.1 million weakened by 71% compared to a loss of $4.8 million in\nQ1 2025.\nIn Q1 2026, both the Australian and New Zealand dollar average exchange rates\nstrengthened against the U.S. dollar by 10.8% and 3.9%, respectively, compared\nto Q1 2025. With 53% of our Total Revenues being generated by our Australian\nand New Zealand businesses this quarter, the stronger currency positively\nimpacted our U.S. reported operating results. This exchange ratio improvement\ntrend has continued since the end of the quarter.   \n\nPresident and Chief Executive Officer, Ellen Cotter said, “We’re pleased\nto report that the Company achieved its strongest first quarter Operating\nIncome result since 2019 pre-pandemic. This strong performance was powered by\na 14% increase in our global cinema revenue, attributable to a stronger movie\nline-up from movies like Project Hail Mary, Wuthering Heights, GOAT, and\nHoppers, along with solid Q4 2025 holdovers like Avatar: Fire and Ash and\nZootopia 2. Also, reflective of the successful execution of our key strategic\ninitiatives, each of our cinema divisions delivered improved operating income\nresults, with our Australian cinemas delivering a much improved first quarter.\nIn addition to our U.S. and Australian cinema divisions reporting the highest\never first quarter Food & Beverage spend per head, all cinema divisions\ncontinued to add members to their loyalty programs through creative\ninitiatives. We expect our positive momentum to continue through 2026 as the\nremaining movie slate looks extremely promising with titles like Toy Story 5,\nMoana, Minions & Monsters, The Odyssey, Spider-Man: Brand New Day, Avengers:\nDoomsday and Dune: Part Three.\n\nOur Q1 2026 global Real Estate division segment revenues and operating income\ndecreased against Q1 2025. The performance reflects the execution of our\nstrategy to raise liquidity through select asset monetization, most notably\nthe 2025 sales of our real estate assets in Wellington, New Zealand and\nTownsville, Australia. Our U.S. Real Estate business supported the global Real\nEstate division by reporting its highest ever first quarter U.S. Real Estate\nrevenue, led by strengthening in our Live Theatre revenue.\n\nLastly, our improved Q1 2026 Operating Loss also reflects an 8% reduction in\nour global General & Administrative costs.”\n\nCotter continued, “During the first quarter 2026, in an effort to bolster\nour liquidity, our Board directed Management to begin efforts to sell the\nCinemas 1,2,3 building in NYC. And, as of the date of this Release, we are\nunder contract to sell our Napier property in New Zealand with an expected\ncinema lease back.\n\nWith a solid first quarter operational start, a balance sheet which continues\nto be anchored by a strong real estate portfolio, and our global cinemas\npoised to capitalize on an exciting and robust movie slate through the\nremainder of the year, while no assurances can be given, we believe our\nCompany is well-positioned to deliver a strong 2026.”\n\nCinema Business\n* With respect to Q1 2026, and compared to Q1 2025, our global cinemas\nreported (i) $41.5 million in cinema revenue, representing a 14% increase, and\n(ii) an operating loss of $1.3 million, representing a 70% improvement.\n* These positive results were driven by:\n\n(i) Increased attendance at our U.S. cinemas as a result of an improved Q1\n2026 movie slate, despite a 7.3% reduction in our U.S. screen count due to the\n2025 closure of an underperforming cinema; \n(ii) Increased attendance in our Australian cinemas as a result of an improved\nQ1 2026 movie slate, coupled with creative and compelling loyalty program\ninitiatives; \n(iii) Improved F&B sales per person (“SPP”) for Q1 2026: (a) at AU$8.09,\nour Australian Cinema F&B SPP, represented the highest first quarter ever for\nour Australian Cinemas, and (b) at $8.38, our U.S. Cinema F&B SPP also ranked\nthe highest first quarter during which our U.S. circuit was fully operating\n(i.e. excluding pandemic closure periods); and \n(iv) The strengthening of the Australian and New Zealand currencies during the\nfirst quarter 2026.\n* We continue to work with our global cinema landlords to align our occupancy\ncosts with current operating conditions to help manage inflationary pressures\nand rising labor and operating costs, especially in the State of Hawaii, where\nwe have experienced a significantly higher increase in operating expenses\ncompared to the U.S. Mainland.\nReal Estate Business\n* With respect to Q1 2026, and compared to Q1 2025, our global Real Estate\nbusiness reported (i) $4.6 million of Real Estate revenue representing a\ndecrease of 5%, and (ii) operating income of $1.4 million representing a 13%\ndecrease.\n* Our Q1 2026 U.S. Real Estate revenues of $1.8 million represented a 13%\nincrease from Q1 2025 primarily due to the improved performance of our Live\nTheatre assets in NYC, including our Minetta Lane Theatre, which generated its\nbest first quarter in the Company’s history.\n* As of December 2025, we own 100% of our Cinemas 1,2,3 property. In order to\nimprove our liquidity conditions, during the first quarter of 2026, our Board\ndirected management to begin efforts to sell this property.\n* In New Zealand, we signed a purchase and sale agreement on March 4, 2026, to\nmonetize our Napier property. The transaction has proceeded to the due\ndiligence period. The transaction contemplates a lease back to us of the\ncinema at that location.\n* As of March 31, 2026, our combined Australian and New Zealand property\nportfolio has 58 third-party tenants, with a portfolio occupancy rate of 98%\nand total leased gross lettable area of 156,171 SF.\nBalance Sheet and Liquidity\n\nAs of March 31, 2026:\n* Our cash and cash equivalents were $5.5 million.\n* Our assets had a total book value of $431.5 million, compared to a book\nvalue of $434.9 million as of December 31, 2025.\n* Our total gross debt of $184.6 million decreased by $0.5 million from\nDecember 31, 2025.\n* With respect to our debt position: * Continuing our efforts to reduce our\noverall interest expense, our Q1 2026 interest expense decreased by 11%\ncompared to Q1 2025.\n* On February 6, 2026, we executed an amendment to defer a principal payment\nrelated to our 44 Union Square loan, which we paid on March 13, 2026.\n* On February 27, 2026, we executed an amendment to modify the principal\nrepayment schedule of our Bank of America/Bank of Hawaii facility.\n* On March 31, 2026, we executed an amendment to reduce our NAB loan’s\nminimum liquidity requirement for a limited defined period in 2026.\n* We are currently working to refinance the loan on our live theatre buildings\nin New York City.\nConference Call and Webcast\n\nWe plan to post our pre-recorded conference call and audio webcast on our\ncorporate website on Tuesday, May 19, 2026, which will feature prepared\nremarks from Ellen Cotter, President and Chief Executive Officer; and Gilbert\nAvanes, Executive Vice President, Chief Financial Officer and Treasurer.\n\nA pre-recorded question and answer session will follow our formal remarks.\nQuestions and topics for consideration should be submitted to\nInvestorRelations@readingrdi.com by Monday, May 18, 2026, by 5:00 p.m. Eastern\nTime. The audio webcast will be able to be accessed by visiting\nhttps://investor.readingrdi.com/financial-information/quarterly-results.\n\nAbout Reading International, Inc.\n\nReading International, Inc. (NASDAQ: RDI), an internationally diversified\ncinema and real estate company operating through various domestic and\ninternational subsidiaries, is a leading entertainment and real estate\ncompany, engaging in the development, ownership, and operation of cinemas and\nretail and commercial real estate in the United States, Australia, and New\nZealand.\n\nReading’s cinema subsidiaries operate under multiple cinema brands: Reading\nCinemas, Consolidated Theatres and the Angelika brand. Its live theatres are\nowned and operated by its Liberty Theaters subsidiary, under the Orpheum and\nMinetta Lane names. Its signature property developments, including Newmarket\nVillage in Brisbane, Australia, and 44 Union Square in New York City, are\nmaintained in special purpose entities.\n\nAdditional information about Reading can be obtained from our Company's\nwebsite: http://www.readingrdi.com.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis earnings release contains a variety of forward-looking statements as\ndefined by the Securities Litigation Reform Act of 1995, including those\nrelated to our expected operating results; our belief regarding the quality,\nthe quantity and the appeal of upcoming movie releases in the remainder of\n2026 and our revenue expectations relating to such movie releases; our\npositioning for future periods; our expectations regarding the sale and lease\nback of our Napier property in New Zealand; our expectations regarding our\nability to refinance the loan on our live theater buildings in New York City;\nand our ability to successfully market and sell our Cinemas 1,2,3 property.\nYou can recognize these statements by our use of words, such as “may,”\n“will,” “expect,” “believe,” and “anticipate” or other similar\nterminology.\n\nGiven the variety and unpredictability of the factors that will ultimately\ninfluence our businesses and our results of operation, no guarantees can be\ngiven that any of our forward-looking statements will ultimately prove to be\ncorrect. Actual results will undoubtedly vary and there is no guarantee as to\nhow our securities will perform either when considered in isolation or when\ncompared to other securities or investment opportunities.\n\nForward-looking statements made by us in this earnings release are based only\non information currently available to us and speak only as of the date on\nwhich they are made. We undertake no obligation to publicly update or to\nrevise any of our forward-looking statements, whether as a result of new\ninformation, future events or otherwise, except as may be required under\napplicable law. Accordingly, you should always note the date to which our\nforward-looking statements speak.\n\nBecause forward-looking statements relate to the future, they are subject to\ninherent uncertainties, risks and changes in circumstances that are difficult\nto predict and many of which are outside of our control. Therefore, you should\nnot rely on any of these forward-looking statements. Important factors that\ncould cause our actual results and financial condition to differ materially\nfrom those indicated in the forward-looking statements include, among others,\nthose factors discussed throughout Part I, Item 1A – Risk Factors and Part\nII Item 7 – Management's Discussion and Analysis of Financial Condition and\nResults of Operations of our Annual Report on Form 10-K for the most recently\nended fiscal year, as well as the risk factors set forth in any other filings\nmade under the Securities Act of 1934, as amended, including any of our\nQuarterly Reports on Form 10-Q, for more information.\n\n Reading International, Inc. and Subsidiaries Unaudited Consolidated Statements of Operations (Unaudited; U.S. dollars in thousands, except per share data) \n \n Three Months Ended \n March 31, \n 2026 2025 \n Revenue \n Cinema $ 41,461 $ 36,404 \n Real estate 3,663 3,765 \n Total revenue 45,124 40,169 \n Costs and expenses \n Cinema (38,894 ) (36,577 ) \n Real estate (1,886 ) (1,955 ) \n Depreciation and amortization (3,230 ) (3,375 ) \n General and administrative (4,746 ) (5,153 ) \n Total costs and expenses (48,756 ) (47,060 ) \n Operating income (loss) (3,632 ) (6,891 ) \n Interest expense, net (4,228 ) (4,742 ) \n Gain (loss) on sale of assets — 6,526 \n Other income (expense) (488 ) (331 ) \n Income (loss) before income tax expense and equity earnings of unconsolidated joint ventures (8,348 ) (5,438 ) \n Equity earnings of unconsolidated joint ventures 71 23 \n Income (loss) before income taxes (8,277 ) (5,415 ) \n Income tax benefit (expense) 143 472 \n Net income (loss) $ (8,134 ) $ (4,943 ) \n Less: net income (loss) attributable to noncontrolling interests 13 (191 ) \n Net income (loss) attributable to Reading International, Inc. $ (8,147 ) $ (4,752 ) \n Basic earnings (loss) per share $ (0.36 ) $ (0.21 ) \n Diluted earnings (loss) per share $ (0.36 ) $ (0.21 ) \n Weighted average number of shares outstanding–basic 22,717,260 22,426,184 \n Weighted average number of shares outstanding–diluted 22,717,260 22,426,184 \n \n\n\n\n Reading International, Inc. and Subsidiaries Consolidated Balance Sheets (U.S. dollars in thousands, except share information) \n \n \n March 31, December 31, \n 2026 2025 \n ASSETS (Unaudited) \n Current Assets: \n Cash and cash equivalents $ 5,524 $ 10,531 \n Restricted cash 2,342 2,327 \n Receivables 4,270 4,553 \n Inventories 1,629 1,664 \n Prepaid and other current assets 6,610 2,281 \n Asset groups held for sale 24,451 460 \n Total current assets 44,826 21,816 \n Operating properties, net 182,957 207,974 \n Operating lease right-of-use assets 161,932 159,659 \n Investment in unconsolidated joint ventures 3,320 3,264 \n Goodwill 24,818 24,603 \n Intangible assets, net 1,551 1,576 \n Deferred tax asset, net 2,499 2,619 \n Other assets 9,577 13,418 \n Total assets $ 431,480 $ 434,929 \n LIABILITIES AND STOCKHOLDERS' EQUITY \n Current Liabilities: \n Accounts payable and accrued liabilities $ 59,535 $ 52,826 \n Film rent payable 3,280 6,973 \n Debt - current portion 35,513 35,999 \n Derivative financial instruments - current portion 16 56 \n Taxes payable - current 211 545 \n Deferred current revenue 11,220 11,327 \n Operating lease liabilities - current portion 20,392 20,081 \n Other current liabilities 782 774 \n Total current liabilities 130,949 128,581 \n Debt - long-term portion 114,548 114,350 \n Subordinated debt, non-current portion 27,672 27,617 \n Noncurrent tax liabilities 6,384 6,434 \n Operating lease liabilities - non-current portion 164,128 162,919 \n Other liabilities 13,186 13,126 \n Total liabilities $ 456,867 $ 453,027 \n Commitments and contingencies (Note 16) \n Stockholders’ equity: \n Class A non-voting common shares, par value $0.01, 100,000,000 shares authorized, \n 33,972,781 issued and 21,036,670 outstanding at March 31, 2026 and \n 33,972,781 issued and 21,036,670 outstanding at December 31, 2025 241 241 \n Class B voting common shares, par value $0.01, 20,000,000 shares authorized and \n 1,680,590 issued and outstanding at March 31, 2026 and December 31, 2025 17 17 \n Nonvoting preferred shares, par value $0.01, 12,000 shares authorized and no issued \n or outstanding shares at March 31, 2026 and December 31, 2025 — — \n Additional paid-in capital 155,822 155,454 \n Retained earnings (accumulated deficit) (137,077 ) (128,930 ) \n Treasury shares, at cost (40,407 ) (40,407 ) \n Accumulated other comprehensive income (4,141 ) (4,614 ) \n Total Reading International, Inc. stockholders’ equity (25,545 ) (18,239 ) \n Noncontrolling interests 158 141 \n Total stockholders’ equity (25,387 ) (18,098 ) \n Total liabilities and stockholders’ equity $ 431,480 $ 434,929 \n \n\n\n\n Reading International, Inc. and Subsidiaries Segment Results (Unaudited; U.S. dollars in thousands) \n \n Three Months Ended \n March 31, % Change Favorable/ \n (Dollars in thousands) 2026 2025 (Unfavorable) \n Segment revenue \n Cinema \n United States $ 19,463 $ 18,295 6 % \n Australia 19,706 15,682 26 % \n New Zealand 2,292 2,427 (6 ) % \n Total $ 41,461 $ 36,404 14 % \n Real estate \n United States $ 1,800 $ 1,587 13 % \n Australia 2,582 3,015 (14 ) % \n New Zealand 214 243 (12 ) % \n Total $ 4,596 $ 4,845 (5 ) % \n Inter-segment elimination (933 ) (1,080 ) 14 % \n Total segment revenue $ 45,124 $ 40,169 12 % \n Segment operating income (loss) \n Cinema \n United States $ (1,555 ) $ (3,146 ) 51 % \n Australia 426 (974 ) >100 % \n New Zealand (213 ) (355 ) 40 % \n Total $ (1,342 ) $ (4,475 ) 70 % \n Real estate \n United States $ 155 $ 143 8 % \n Australia 1,166 1,545 (25 ) % \n New Zealand 69 (94 ) >100 % \n Total $ 1,390 $ 1,594 (13 ) % \n Total segment operating income (loss) ((1)) $ 48 $ (2,881 ) >100 % \n \n (1) Total segment operating income is a non-GAAP financial measure. See the discussion of non-GAAP financial measures that follows. \n\n\n\n Reading International, Inc. and Subsidiaries Reconciliation of EBITDA and Adjusted EBITDA to Net Income (Loss) (Unaudited; U.S. dollars in thousands) \n \n \n Three Months Ended \n March 31, \n (Dollars in thousands) 2026 2025 \n Net Income (loss) attributable to Reading International, Inc. $ (8,147 ) $ (4,752 ) \n Add: Interest expense, net 4,228 4,742 \n Add: Income tax expense (benefit) (143 ) (472 ) \n Add: Depreciation and amortization 3,230 3,375 \n EBITDA $ (832 ) $ 2,893 \n Adjustments for: \n None — — \n Adjusted EBITDA $ (832 ) $ 2,893 \n \n\n\n\n Reading International, Inc. and Subsidiaries Reconciliation of Total Segment Operating Income (Loss) to Income (Loss) before Income Taxes (Unaudited; U.S. dollars in thousands) \n \n Three Months Ended \n (Dollars in thousands) March 31, 2026 March 31, 2025 \n Segment operating income (loss) $ 48 $ (2,881 ) \n Unallocated corporate expense: \n Depreciation and amortization expense (96 ) (133 ) \n General and administrative expense (3,584 ) (3,877 ) \n Interest expense, net (4,228 ) (4,742 ) \n Equity earnings (loss) of unconsolidated joint ventures 71 23 \n Gain (loss) on sale of assets — 6,526 \n Other (expense) income (488 ) (331 ) \n Income (loss) before income taxes $ (8,277 ) $ (5,415 ) \n \n\nNon-GAAP Financial Measures\n\nThis Earnings Release presents total segment operating income (loss), EBITDA,\nand Adjusted EBITDA, which are important financial measures for our Company,\nbut are not financial measures defined by U.S. GAAP.\n\nThese measures should be reviewed in conjunction with the relevant U.S. GAAP\nfinancial measures and are not presented as alternative measures of earnings\n(loss) per share, cash flows or net income (loss) as determined in accordance\nwith U.S. GAAP. Total segment operating income (loss) and EBITDA, as we have\ncalculated them, may not be comparable to similarly titled measures reported\nby other companies.\n\nTotal segment operating income (loss) – We evaluate the performance of our\nbusiness segments based on segment operating income (loss), and management\nuses total segment operating income (loss) as a measure of the performance of\noperating businesses separate from non-operating factors. We believe that\ninformation about total segment operating income (loss) assists investors by\nallowing them to evaluate changes in the operating results of our Company’s\nbusiness separate from non-operational factors that affect net income (loss),\nthus providing separate insight into both operations and the other factors\nthat affect reported results.\n\nEBITDA – We use EBITDA in the evaluation of our Company’s performance\nsince we believe that EBITDA provides a useful measure of financial\nperformance and value. We believe this principally for the following reasons:\n\nWe believe that EBITDA is an accepted industry-wide comparative measure of\nfinancial performance. It is, in our experience, a measure commonly adopted by\nanalysts and financial commentators who report upon the cinema exhibition and\nreal estate industries, and it is also a measure used by financial\ninstitutions in underwriting the creditworthiness of companies in these\nindustries. Accordingly, our management monitors this calculation as a method\nof judging our performance against our peers, market expectations, and our\ncreditworthiness. It is widely accepted that analysts, financial commentators,\nand persons active in the cinema exhibition and real estate industries\ntypically value enterprises engaged in these businesses at various multiples\nof EBITDA. Accordingly, we find EBITDA valuable as an indicator of the\nunderlying value of our businesses. We expect that investors may use EBITDA to\njudge our ability to generate cash, as a basis of comparison to other\ncompanies engaged in the cinema exhibition and real estate businesses and as a\nbasis to value our company against such other companies.\n\nEBITDA is not a measurement of financial performance under generally accepted\naccounting principles in the United States of America and it should not be\nconsidered in isolation or construed as a substitute for net income (loss) or\nother operations data or cash flow data prepared in accordance with generally\naccepted accounting principles in the United States for purposes of analyzing\nour profitability. The exclusion of various components, such as interest,\ntaxes, depreciation, and amortization, limits the usefulness of these measures\nwhen assessing our financial performance, as not all funds depicted by EBITDA\nare available for management’s discretionary use. For example, a substantial\nportion of such funds may be subject to contractual restrictions and\nfunctional requirements to service debt, to fund necessary capital\nexpenditures, and to meet other commitments from time to time.\n\nEBITDA also fails to take into account the cost of interest and taxes.\nInterest is clearly a real cost that for us is paid periodically as accrued.\nTaxes may or may not be a current cash item but are nevertheless real costs\nthat, in most situations, must eventually be paid. A company that realizes\ntaxable earnings in high tax jurisdictions may, ultimately, be less valuable\nthan a company that realizes the same amount of taxable earnings in a low tax\njurisdiction. EBITDA fails to take into account the cost of depreciation and\namortization and the fact that assets will eventually wear out and have to be\nreplaced.\n\nAdjusted EBITDA – using the principles we consistently apply to determine\nour EBITDA, we further adjusted the EBITDA for certain items we believe to be\nexternal to our core business and not reflective of our costs of doing\nbusiness or results of operation. Specifically, we have adjusted for (i) legal\nexpenses relating to extraordinary litigation, and (ii) any other items that\ncan be considered non-recurring in accordance with the two-year SEC\nrequirement for determining an item is non-recurring, infrequent or unusual in\nnature.\n\nFor more information, contact:\nGilbert Avanes – EVP, CFO, and Treasurer\n(213) 235-2240\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/78a61d1e-206f-4345-86b7-e0734b3e7e3b)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-15T13:00:01.553870879Z","server_sent_at_ms":1778850001553},"received_at":"2026-05-15T13:00:01.623Z","source_url":null},"analysis":{"id":"26009","press_release_id":"36556","analysis_json":{"industry":{"label":"Entertainment","sector":"Consumer Discretionary"},"redFlags":["Company remains unprofitable with negative EBITDA of $0.8 million","Net loss widened by 71% to $8.1 million compared to Q1 2025 (excluding one-time gain)","Low liquidity with only $5.5 million in cash against $184.6 million in gross debt","Board directed management to sell key assets (Cinemas 1,2,3 NYC) to bolster liquidity"],"eventType":"earnings","narrative":"Reading International reported Q1 2026 revenue of $45.1 million, a 12% increase year-over-year, driven by a 14% rise in global cinema revenue and favorable currency translation.\n\nThe company narrowed its operating loss to $3.6 million from $6.9 million in the prior year, marking its best operating result since Q1 2019, though it remains unprofitable with a net loss of $8.1 million.\n\nManagement highlighted strong attendance and record Food & Beverage spend per head in the U.S. and Australia, while noting ongoing efforts to improve liquidity through asset sales, including the Cinemas 1,2,3 building in NYC and the Napier property in New Zealand.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"RDI posts best operating result since 2019 with 12% revenue growth, but liquidity concerns persist as company moves to sell key real estate assets."},"keyFigures":{"revenue":45124000,"revenueYoy":"12%","customDimensions":{"total_debt":184600000,"cinema_revenue":41461000,"au_nz_revenue_share":"53%","real_estate_revenue":4596000,"cash_and_equivalents":5524000}},"quotedText":"We’re pleased to report that the Company achieved its strongest first quarter Operating Income result since 2019 pre-pandemic.","namedEntities":{"people":[{"name":"Ellen Cotter","role":"President and Chief Executive Officer"},{"name":"Gilbert Avanes","role":"Executive Vice President, Chief Financial Officer and Treasurer"}],"products":["Project Hail Mary","Wuthering Heights","GOAT","Hoppers","Avatar: Fire and Ash","Zootopia 2","Toy Story 5","Moana","Minions & Monsters","The Odyssey","Spider-Man: Brand New Day","Avengers: Doomsday","Dune: Part Three"],"companies":[{"name":"Reading International, Inc.","ticker":"RDI"},{"name":"Bank of America","relationship":"lender"},{"name":"Bank of Hawaii","relationship":"lender"},{"name":"NAB","relationship":"lender"}],"dollarAmounts":[{"amount":"$45.1 million","context":"Q1 2026 Total Revenues"},{"amount":"$40.2 million","context":"Q1 2025 Total Revenues"},{"amount":"$3.6 million","context":"Q1 2026 Operating Loss"},{"amount":"$6.9 million","context":"Q1 2025 Operating Loss"},{"amount":"$0.8 million","context":"Q1 2026 EBITDA (negative)"},{"amount":"$2.9 million","context":"Q1 2025 EBITDA (positive)"},{"amount":"$6.6 million","context":"Q1 2025 gain on sale of real estate assets"},{"amount":"$0.36","context":"Q1 2026 Basic Loss per Share"},{"amount":"$0.21","context":"Q1 2025 Basic Loss per Share"},{"amount":"$8.1 million","context":"Q1 2026 Net Loss Attributable to Reading"},{"amount":"$4.8 million","context":"Q1 2025 Net Loss Attributable to Reading"},{"amount":"$41.5 million","context":"Q1 2026 Cinema Revenue"},{"amount":"$1.3 million","context":"Q1 2026 Cinema Operating Loss"},{"amount":"$4.6 million","context":"Q1 2026 Real Estate Revenue"},{"amount":"$1.4 million","context":"Q1 2026 Real Estate Operating Income"},{"amount":"$1.8 million","context":"Q1 2026 U.S. Real Estate Revenue"},{"amount":"$5.5 million","context":"Cash and cash equivalents as of March 31, 2026"},{"amount":"$431.5 million","context":"Total assets book value as of March 31, 2026"},{"amount":"$184.6 million","context":"Total gross debt as of March 31, 2026"}]},"materialImpact":{"score":3,"reasoning":"Revenue beat expectations with 12% YoY growth and operating loss narrowed by 47%. However, the company remains unprofitable with a net loss of $8.1M and negative EBITDA, limiting the upside to a moderate score."},"tickerRelevance":{"others":[],"primary":"RDI"},"globalImportance":25,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"earnings_beat_operational_improvement","sectorWeight":"moderate","householdBrandBoost":"low","marketCapAdjustment":"low","retailFavoriteBoost":"none"}},"event_type":"earnings","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Reading International reported Q1 2026 revenue of $45.1 million, a 12% increase year-over-year, driven by a 14% rise in global cinema revenue and favorable currency translation.\n\nThe company narrowed its operating loss to $3.6 million from $6.9 million in the prior year, marking its best operating result since Q1 2019, though it remains unprofitable with a net loss of $8.1 million.\n\nManagement highlighted strong attendance and record Food & Beverage spend per head in the U.S. and Australia, while noting ongoing efforts to improve liquidity through asset sales, including the Cinemas 1,2,3 building in NYC and the Napier property in New Zealand.","key_figures":{"revenue":45124000,"revenueYoy":"12%","customDimensions":{"total_debt":184600000,"cinema_revenue":41461000,"au_nz_revenue_share":"53%","real_estate_revenue":4596000,"cash_and_equivalents":5524000}},"named_entities":{"people":[{"name":"Ellen Cotter","role":"President and Chief Executive Officer"},{"name":"Gilbert Avanes","role":"Executive Vice President, Chief Financial Officer and Treasurer"}],"products":["Project Hail Mary","Wuthering Heights","GOAT","Hoppers","Avatar: Fire and Ash","Zootopia 2","Toy Story 5","Moana","Minions & Monsters","The Odyssey","Spider-Man: Brand New Day","Avengers: Doomsday","Dune: Part Three"],"companies":[{"name":"Reading International, Inc.","ticker":"RDI"},{"name":"Bank of America","relationship":"lender"},{"name":"Bank of Hawaii","relationship":"lender"},{"name":"NAB","relationship":"lender"}],"dollarAmounts":[{"amount":"$45.1 million","context":"Q1 2026 Total Revenues"},{"amount":"$40.2 million","context":"Q1 2025 Total Revenues"},{"amount":"$3.6 million","context":"Q1 2026 Operating Loss"},{"amount":"$6.9 million","context":"Q1 2025 Operating Loss"},{"amount":"$0.8 million","context":"Q1 2026 EBITDA (negative)"},{"amount":"$2.9 million","context":"Q1 2025 EBITDA (positive)"},{"amount":"$6.6 million","context":"Q1 2025 gain on sale of real estate assets"},{"amount":"$0.36","context":"Q1 2026 Basic Loss per Share"},{"amount":"$0.21","context":"Q1 2025 Basic Loss per Share"},{"amount":"$8.1 million","context":"Q1 2026 Net Loss Attributable to Reading"},{"amount":"$4.8 million","context":"Q1 2025 Net Loss Attributable to Reading"},{"amount":"$41.5 million","context":"Q1 2026 Cinema Revenue"},{"amount":"$1.3 million","context":"Q1 2026 Cinema Operating Loss"},{"amount":"$4.6 million","context":"Q1 2026 Real Estate Revenue"},{"amount":"$1.4 million","context":"Q1 2026 Real Estate Operating Income"},{"amount":"$1.8 million","context":"Q1 2026 U.S. Real Estate Revenue"},{"amount":"$5.5 million","context":"Cash and cash equivalents as of March 31, 2026"},{"amount":"$431.5 million","context":"Total assets book value as of March 31, 2026"},{"amount":"$184.6 million","context":"Total gross debt as of March 31, 2026"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-15T13:05:18.560Z","global_importance":25,"audience_relevance":15,"importance_components":{"tickerTier":"small-cap","eventGravity":"earnings_beat_operational_improvement","sectorWeight":"moderate","householdBrandBoost":"low","marketCapAdjustment":"low","retailFavoriteBoost":"none"}},"durationMs":100226,"modelName":"george-droid-qwen-72b"}}