8-K
filed April 3, 2024, 7:59 PM ET
ticker RDI
CIK 0000716634
earnings
confidence high
sentiment neutral
materiality 0.70
Reading International reports FY2023 revenue +10% to $222.7M; net loss improves 15% to $30.7M
READING INTERNATIONAL INC
2024-Q1 EPS reported
-$0.59
revenue$45,052,000
- Total revenues $222.7M (up 10% YoY); operating loss reduced 58% to $12M.
- Net loss attributable to Reading $30.7M (from $36.2M); basic EPS loss $1.38 (improved from $1.64).
- Adjusted EBITDA turned positive to $7.76M from negative $0.06M in 2022.
- Bank of America credit facility maturity extended to Aug 18, 2025; $275K mandatory paydown, minimum liquidity covenant eliminated.
- Original Apr 1 earnings release misclassified debt; corrected Apr 2 shows current debt $34.5M, long-term $146.6M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
READING INTERNATIONAL INC reported the year ended December 31, 2023 results: revenue $222.7 million, net income $30.7 million, EPS $1.38.
- Period
- the year ended December 31, 2023
- Revenue
- $222.7 million
- Net income
- $30.7 million
- EPS
- $1.38
- Result
- reported results
Exact text from the filing
releases are being well received by movie patrons and, generally speaking, things are moving in the right direction for our Company. · Total Revenues increased by 10% to $ 222.7 million from $ 203.1 million . · Operating Loss reduced by 58% to $ 12 million from $ 28.5 million . · Adjusted EBITDA significantly increased by $ 7.8 2 million from a negative $ 0. 06
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
READING INTERNATIONAL INC reported the quarter ended December 31, 2023 results: revenue $45.3 million, net income $12.4 million, EPS $0.56.
- Period
- the quarter ended December 31, 2023
- Revenue
- $45.3 million
- Net income
- $12.4 million
- EPS
- $0.56
- Result
- reported results
Exact text from the filing
total revenue is generated in Australia and New Zealand. Fourth Quarter 2023 Summary compared to fourth quarter 2022 · Total Revenues decreased by 4.0% (or $1.9 million) to $45.3 million compared to $47.2 million . · Operating Loss improved 17.2% to $7 million compared to a net loss of $8.4 million. · Net loss improved 6.3% to $12.4 million compared to a loss of
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
READING INTERNATIONAL INC amended Waiver and Sixth Amendment to Second Amended and Restated Credit Agreement with Bank of America, N.A., as Administrative Agent, Swingline Lender and L/C Issuer (effective 2024-03-27).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A., as Administrative Agent, Swingline Lender and L/C Issuer
- Effective
- 2024-03-27
Exact text from the filing
On March 27, 2024, Consolidated Amusement Holdings, LLC (“CAH”), a subsidiary of Reading International, Inc. (the “Company”), and other affiliates of CAH (the “Guarantors”), entered into a Waiver and Sixth Amendment to Second Amended and Restated Credit Agreement (the “Amendment”) that amended certain terms of the Second Amended and Restated Credit Agreement, dated as of March 6, 2020, among CAH, the Guarantors, the Lenders from time to time party thereto, Bank of America, N.A., as Administrative Agent, Swingline Lender and L/C Issuer (as amended and supplemented, the “BofA Credit Facility”).
View on SEC.gov
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