Reading Intl Inc Stock Price, News & Analysis

Reading International (NASDAQ: RDI), a diversified cinema and real estate company, announced its participation in the upcoming Sidoti Virtual Micro-Cap Investor Conference on May 21-22, 2025. Andrzej Matyczynski, Executive VP of Global Operations, will present on May 22 at 10:45 AM ET, discussing Q1 2025 financial results, business outlook, and capital allocation strategy.

The company operates cinemas under brands including Reading Cinemas, Consolidated Theatres, and Angelika, with presence in the US, Australia, and New Zealand. Reading also manages live theatres under the Orpheum and Minetta Lane names, and develops signature properties like Newmarket Village in Brisbane and 44 Union Square in NYC.

Reading International (RDI) reported Q1 2025 results with total revenues of $40.2 million, down from $45.1 million in Q1 2024. The company's operating loss improved 8.5% to $6.9 million, while EBITDA turned positive at $2.9 million, a 173% improvement. The revenue decline was attributed to lower cinema attendance due to 2023 Hollywood Strikes impact, reduced screen count, and unfavorable currency exchange rates. Notable highlights include the sale of Wellington, NZ properties for NZ$38.0 million, resulting in an NZ$11.6 million gain and debt reduction. Cinema business saw a 12% decrease in revenue to $36.4 million, while real estate operating income increased 79% to $1.6 million. The company is contracted to sell Cannon Park assets in Australia for AU$32 million and plans to use proceeds for debt reduction.

Reading International (NASDAQ: RDI) has released its Q4 and Full Year 2024 results, showing mixed performance. Q4 2024 saw significant improvements with total revenues increasing 29.3% to $58.6 million, and net loss reducing to $2.2 million from $12.4 million in Q4 2023. The quarter's success was driven by blockbuster releases and strong cinema performance.

However, full-year 2024 results were less favorable, impacted by Hollywood strikes and movie release delays. Total revenues decreased 5.5% to $210.5 million, with net loss increasing 15.1% to $35.3 million. The company's real estate division showed resilience, maintaining a 96% occupancy rate in Australia/New Zealand properties.

To improve liquidity, Reading has executed strategic asset sales, including Wellington, New Zealand assets for NZ$38 million and Culver City property for $10 million. The company continues focusing on debt reduction and has worked with lenders to extend maturity dates and adjust covenants.

Reading International (NASDAQ: RDI) reported mixed results for Q4 and full year 2024. Q4 showed significant improvement with total revenues up 29.3% to $58.6M and a shift from operating loss to income of $1.5M. However, full-year performance declined due to Hollywood strike impacts.

Q4 highlights include revenue growth in both cinema (+30% to $54.6M) and real estate (+14% to $5.2M) segments. The company achieved record-high F&B spend per person across all cinema divisions, with US operations leading at $8.28 per person.

Full-year 2024 results showed:

• Total revenue decrease of 5.5% to $210.5M
• Net loss increase of 15.1% to $35.3M
• Basic loss per share of $1.58

The company continues its debt reduction strategy through asset sales, including recent transactions in Wellington, NZ (NZ$38M) and Culver City, CA ($10M). As of December 31, 2024, cash position was $12.3M with total bank borrowings at $202.7M against total book value assets of $471.0M.

Reading International (NASDAQ: RDI) reported exceptional box office performance during the 2024 holiday season across its global cinema operations. The company achieved several records, particularly in Australia, where both November and December 2024 set all-time box office revenue records, surpassing pre-pandemic levels from 2019.

The success was driven by major Hollywood blockbusters including Wicked, Moana 2, Gladiator II, Mufasa: The Lion King and Sonic the Hedgehog 3. The company's specialty Angelika brand theaters also performed well with award-winning films. In New Zealand and the United States, operations reached their highest box office numbers since the pandemic for both November and December 2024.

In Australia, RDI launched a new Reading Rewards loyalty program, offering points earning and redemption for tickets and concessions. A premium Boost tier membership is available for AUS$20 annually, providing 15% off tickets, 10% off food and beverage, double points, and exclusive promotions.

Reading International (NASDAQ: RDI) has announced an agreement to sell its Wellington, New Zealand properties to Prime Property Group for NZ$38 million. The transaction is expected to close in Q1 2025.

The agreement includes plans for Prime Property Group to conduct seismic upgrades to the Courtenay Central building, followed by a long-term cinema lease arrangement with Reading Cinemas Courtenay Central Reading intends to renovate and reopen its existing cinema in the building, which has been temporarily closed since early 2019 due to seismic concerns.

Reading International (NASDAQ: RDI) reported Q3 2024 financial results showing mixed performance. Total revenues decreased to $60.1 million from $66.6 million in Q3 2023, with an operating loss of $0.2 million compared to operating income of $1.0 million last year. The company's Australian cinema revenues achieved record third-quarter levels, driven by successful movies like Inside Out 2 and Deadpool & Wolverine. Despite revenue challenges, the real estate division reported a 52% increase in operating income. The company continues to manage debt maturities through loan modifications and asset sales, while maintaining a 95% occupancy rate in its Australian property portfolio.

Reading International (NASDAQ: RDI) has announced that its 2024 Annual Meeting of Stockholders will be held virtually on December 5, 2024, at 2:00 p.m. Eastern Time. Registered stockholders and appointed proxyholders as of the record date of October 15, 2024, are eligible to attend, participate, and vote at the virtual meeting.

The company plans to begin electronic mailing of the meeting notice and definitive Proxy Statement around October 25, 2024. These documents will also be available on the company's investor relations website. Reading International encourages all Class B stockholders to vote and submit their proxy in advance, regardless of their plans to attend the virtual meeting.

Consolidated Theatres, an affiliate of Reading International, Inc. (NASDAQ: RDI), is introducing a new custom beverage flavor, 'Consolidated Theatres Island Punch', created exclusively by Coca-Cola®. This proprietary blend features Fanta® Cherry, Vanilla, and Lime flavors. The launch coincides with the installation of Coca-Cola Freestyle® beverage fountains at Consolidated Theatres Ward and ʻŌlino locations, offering over 200 flavor combinations.

Additionally, Coca-Cola is rolling out -time beverage flavors inspired by movie themes, including a 'Haunted Spritz' for the upcoming film BEETLEJUICE BEETLEJUICE. The promotion runs through October 31, 2024, with early screenings starting September 5, 2024. Consolidated Theatres will also offer a special movie menu for the film's release.