Reading International Q2 net loss $9.3M on $46.8M revenue; cinema hit by strike fallout

READING INTERNATIONAL INC

2024-Q2 EPS reported -$1.01 revenue$91,861,000

Total Q2 revenue $46.8M (down 28%), operating loss $4.4M, net loss $9.3M, basic EPS -$0.42 (vs -$0.12).
Global cinema revenue fell 30% to $42.9M; operating income swung to -$1.3M from $4.5M YoY.
Sold Culver City office for $10M, retired $8.4M debt; extended NAB loan to July 2026; marketing Cannon Park and Wellington.
July 2024 global cinema cash flow top-five since pandemic; management expects asset sales and stronger slate for better 2025.

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