Reading International Q1 Revenue Up 12% to $45.1M; Operating Loss Cuts 47%
Reading International reported Q1 2026 revenue of $45.1M, up 12% from $40.2M, fueled by a 14% jump in cinema sales to $41.5M and record F&B spend in Australia and U.S. Operating loss narrowed 47% to $3.6M, while net loss reached $8.1M due to absence of a $6.6M real estate gain.
1. Q1 Financial Results
Reading International reported Q1 2026 revenue of $45.1 million, a 12% increase from $40.2 million in Q1 2025. The operating loss narrowed 47% to $3.6 million, while net loss widened to $8.1 million ($0.36 per share) reflecting the absence of a $6.6 million real estate gain in the prior year.
2. Cinema Business
Global cinema revenue rose 14% to $41.5 million driven by an improved movie lineup and despite a 7.3% reduction in screen count. Operating loss in the cinema division improved 70% to $1.3 million, and both Australian and U.S. cinemas recorded their highest first-quarter food & beverage spend per patron.
3. Real Estate Business
Real estate revenue declined 5% to $4.6 million with operating income down 13% to $1.4 million. U.S. real estate revenue climbed 13% to $1.8 million boosted by strong live theatre performance, and management has initiated selective asset sales to enhance liquidity.