Reading International Q2 revenue rises 11% on Australia boost
Reading International Q2 revenue rises 11% on Australia boost
Overview
US cinema and real estate operator's Q2 revenue grew 11% yr/yr, highest since pre-pandemic
Q2 operating income rose 159% yr/yr, net income swung to profit from prior loss
Outlook
Company expects strong cinema performance to continue in Q3 2026, driven by major film releases
Reading continues efforts to monetize assets, including sale of Cinemas 123 building in NYC
Company says strengthening Australian and New Zealand dollars are positively impacting reported results
Result Drivers
AUSTRALIAN CINEMA GROWTH - Co said Australian circuit drove results with 31% cinema revenue growth, record box office and F&B revenue
STRONG MOVIE SLATE - Co said global cinema revenue rose 11% yr/yr due to popular movie releases including The Super Mario Galaxy Movie, The Devil Wears Prada 2, Michael, Backrooms, Obsession and Toy Story 5
FAVORABLE CURRENCY MOVEMENTS - Strengthening of Australian dollar against USD boosted reported results, with 53% of revenue from Australia and New Zealand
Company press release: ID:nGNX5Tvbhf
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $66.90 mln |
|
Q2 EPS |
| $0.10 |
|
Q2 Net Income |
| $2.31 mln |
|
Q2 Operating Income |
| $7.48 mln |
|
Q2 Pretax Profit |
| $3.81 mln |
|
Reuters Recommended Reads
Aug 11 - Canada's D-BOX Q1 net profit surges, helped by record royalties
Aug 11 - Ari Emanuel's MARI buys theater operator ATG Entertainment
Aug 13 - Cineverse Q1 revenue jumps on tech acquisitions
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)