Welcome to our dedicated page for Reading Intl news (Ticker: RDI), a resource for investors and traders seeking the latest updates and insights on Reading Intl stock.
Reading International Inc (RDI) provides investors and stakeholders with comprehensive updates across its cinema exhibition and real estate operations. This centralized resource aggregates official announcements, strategic developments, and operational milestones from the company's multiplex theaters and commercial property portfolio.
Access timely updates on earnings reports, cinema expansions, and property acquisitions in key markets including the United States, Australia, and New Zealand. Our curated news collection enables efficient tracking of RDI's dual-segment performance through verified press releases and objective reporting.
Key focus areas include theater network developments under brands like Reading Cinemas and Angelika Film Center, alongside updates on retail/commercial property assets. Content spans operational strategies, market positioning, and corporate governance matters relevant to both entertainment and real estate investors.
Bookmark this page for direct access to RDI's evolving business narrative, combining cinema industry expertise with commercial property management insights. Check regularly for new developments affecting the company's diversified operational framework.
Reading International (NASDAQ: RDI) reported its Q2 2024 results, showing declines due to lingering effects of the 2023 Hollywood Strikes. Total revenues fell to $46.8 million from $65.1 million in Q2 2023. The company reported an operating loss of $4.4 million compared to operating income of $1.8 million in Q2 2023. Global cinema revenue decreased 30% to $42.9 million. Real estate revenue declined slightly by 4% to $5.0 million.
Despite challenges, Reading saw some positive trends, including record F&B sales per person in Australia and the U.S. The company is taking steps to improve liquidity, including selling assets and marketing properties. Management expressed optimism about the movie slate for late 2024 and 2025, citing potential blockbusters like Beetlejuice Beetlejuice, Avatar 3, and Superman.
Reading International (NASDAQ: RDI) reported record-breaking performance for the opening weekend of Deadpool & Wolverine across its global cinema circuit. The film set new benchmarks for R-rated movies in the U.S. and MA 15+ rated movies in Australia, both in attendance and box office. It also achieved the highest opening weekend box office for premium large format screens in the U.S. since 2019.
The company's specially curated F&B menu and merchandise offerings contributed to significant revenue gains, including the highest F&B revenues for any weekend in 2024 and record-breaking merchandise sales. In Australia, a special BFF combo helped deliver the highest opening weekend F&B revenues so far in 2024.
CEO Ellen Cotter expressed optimism about the film's long-term performance and the strong momentum expected to continue into the second half of 2024 with upcoming releases.
Reading International (NASDAQ: RDI) reported its Q1 2024 results, revealing a 2% revenue drop to $45.1 million, operating loss improvement to $7.5 million, but a net loss increase to $13.2 million. The 2023 Hollywood Strikes disrupted cinema revenues, although cinema expenses were reduced, and two real estate assets were monetized to support operations. The real estate division still delivered strong first quarter results. Adjusted EBITDA loss rose to $4 million. Exchange rate fluctuations also impacted the results. A robust upcoming film schedule is expected to boost future cinema revenues. The company plans further real estate sales to enhance liquidity.
FAQ
What is the current stock price of Reading Intl (RDI)?
What is the market cap of Reading Intl (RDI)?
