Reading International Reports First Quarter 2026 Results (Form 8-K)

Reading International Reports First Quarter 2026 Results

Earnings Call Webcast to Discuss First Quarter Financial Results

Scheduled to Post to Corporate Website on Tuesday, May 19, 2026



NEW YORK - May 15, 2026 - Reading International, Inc. (NASDAQ: RDI) ("Reading" or our "Company"), an internationally diversified cinema and real estate company with operations and assets in the United States, Australia, and New Zealand, today announced its results for the First Quarter ended March 31, 2026.



Key Financial Summary Results -First Quarter 2026



In Q1 2026, both the Australian and New Zealand dollar average exchange rates strengthened against the U.S. dollar by 10.8% and 3.9%, respectively, compared to Q1 2025. With 53% of our Total Revenues being generated by our Australian and New Zealand businesses this quarter, the stronger currency positively impacted our U.S. reported operating results. This exchange ratio improvement trend has continued since the end of the quarter.



President and Chief Executive Officer, Ellen Cotter said, "We're pleased to report that the Company achieved its strongest first quarter Operating Income result since 2019 pre-pandemic. This strong performance was powered by a 14% increase in our global cinema revenue, attributable to a stronger movie line-up from movies like Project Hail Mary, Wuthering Heights, GOAT, and Hoppers, along with solid Q4 2025 holdovers like Avatar: Fire and Ash and Zootopia 2. Also, reflective of the successful execution of our key strategic initiatives, each of our cinema divisions delivered improved operating income results, with our Australian cinemas delivering a much improved first quarter. In addition to our U.S. and Australian cinema divisions reporting the highest ever first quarter Food & Beverage spend per head, all cinema divisions continued to add members to their loyalty programs through creative initiatives. We expect our positive momentum to continue through 2026 as the remaining movie slate looks extremely promising with titles like Toy Story 5, Moana, Minions & Monsters, The Odyssey, Spider-Man: Brand New Day, Avengers: Doomsday and Dune: Part Three.



Our Q1 2026 global Real Estate division segment revenues and operating income decreased against Q1 2025. The performance reflects the execution of our strategy to raise liquidity through select asset monetization, most notably the 2025 sales of our real estate assets in Wellington, New Zealand and Townsville, Australia. Our U.S. Real Estate business supported the global Real Estate division by reporting its highest ever first quarter U.S. Real Estate revenue, led by strengthening in our Live Theatre revenue.



Lastly, our improved Q1 2026 Operating Loss also reflects an 8% reduction in our global General & Administrative costs."



Cotter continued, "During the first quarter 2026, in an effort to bolster our liquidity, our Board directed Management to begin efforts to sell the Cinemas 1,2,3 building in NYC. And, as of the date of this Release, we are under contract to sell our Napier property in New Zealand with an expected cinema lease back.



With a solid first quarter operational start, a balance sheet which continues to be anchored by a strong real estate portfolio, and our global cinemas poised to capitalize on an exciting and robust movie slate through the remainder of the year, while no assurances can be given, we believe our Company is well-positioned to deliver a strong 2026."



Cinema Business





(i) Increased attendance at our U.S. cinemas as a result of an improved Q1 2026 movie slate, despite a 7.3% reduction in our U.S. screen count due to the 2025 closure of an underperforming cinema;

(ii) Increased attendance in our Australian cinemas as a result of an improved Q1 2026 movie slate, coupled with creative and compelling loyalty program initiatives;

(iii) Improved F&B sales per person ("SPP") for Q1 2026: (a) at AU$8.09, our Australian Cinema F&B SPP, represented the highest first quarter ever for our Australian Cinemas, and (b) at $8.38, our U.S. Cinema F&B SPP also ranked the highest first quarter during which our U.S. circuit was fully operating (i.e. excluding pandemic closure periods); and

(iv) The strengthening of the Australian and New Zealand currencies during the first quarter 2026.





Real Estate Business





Balance Sheet and Liquidity



As of March 31, 2026:





Conference Call and Webcast



We plan to post our pre-recorded conference call and audio webcast on our corporate website on Tuesday, May 19, 2026, which will feature prepared remarks from Ellen Cotter, President and Chief Executive Officer; and Gilbert Avanes, Executive Vice President, Chief Financial Officer and Treasurer.



A pre-recorded question and answer session will follow our formal remarks. Questions and topics for consideration should be submitted to [email protected] by Monday, May 18, 2026, by 5:00 p.m. Eastern Time. The audio webcast will be able to be accessed by visiting https://investor.readingrdi.com/financial-information/quarterly-results.



About Reading International, Inc.



Reading International, Inc. (NASDAQ: RDI), an internationally diversified cinema and real estate company operating through various domestic and international subsidiaries, is a leading entertainment and real estate company, engaging in the development, ownership, and operation of cinemas and retail and commercial real estate in the United States, Australia, and New Zealand.



Reading's cinema subsidiaries operate under multiple cinema brands: Reading Cinemas, Consolidated Theatres and the Angelika brand. Its live theatres are owned and operated by its Liberty Theaters subsidiary, under the Orpheum and Minetta Lane names. Its signature property developments, including Newmarket Village in Brisbane, Australia, and 44 Union Square in New York City, are maintained in special purpose entities.



Additional information about Reading can be obtained from our Company's website: http://www.readingrdi.com.