Reading International Q1 revenue $45.1M, net loss $13.2M, plans asset sales for liquidity

READING INTERNATIONAL INC

2024-Q1 EPS reported -$0.59 revenue$45,052,000

Total revenue $45.1M (-2% YoY); operating loss improved to $7.5M from $7.9M.
Net loss attributable to Reading $13.2M vs $11.1M (worsened 19%); basic loss per share $0.59 vs $0.50.
Adjusted EBITDA loss widened to $4M from $2.8M (increase of 40%).
Real estate segment revenue $4.9M (-3%), operating income $0.9M (-12%); cash $7.5M, total debt $195.7M.
Company sold Culver City office for $10M in Q1; plans to monetize additional properties (Cannon Park, Williamsport) to raise liquidity.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

READING INTERNATIONAL INC reported First Quarter ended March 31, 2024 results: revenue $45.1 million, net income ($13.2 million), EPS ($0.59) per share.

Period: First Quarter ended March 31, 2024
Revenue: $45.1 million
Net income: ($13.2 million)
EPS: ($0.59) per share
Result: reported results

Exact text from the filing

· Total Revenues decreased slightly by 2% (or $0.8 million) to $45.1 million compared to $45.8 million in Q1 2023. · Operating Loss improved by 4% (or $0.3 million) to a loss of $7.5 million compared to a Q1 2023 operating loss of $7.9 million. · Adjusted EBITDA loss of $4 million increased by 40% from a negative $2.8 million in Q1 2023. · Basic loss per share weakened by 18% (or $0.09) to a loss of $0.59 compared to a loss of $0.50 for Q1 2023. · Net loss attributable to Reading increased by 19% to a loss of $13.2 million compared to a loss of $11.1 million

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Source: SEC EDGAR

accession 0000716634-24-000020

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