Reading International, Inc - RDI STOCK NEWS

Reading International (NASDAQ: RDI) has announced that its 2024 Annual Meeting of Stockholders will be held virtually on December 5, 2024, at 2:00 p.m. Eastern Time. Registered stockholders and appointed proxyholders as of the record date of October 15, 2024, are eligible to attend, participate, and vote at the virtual meeting.

The company plans to begin electronic mailing of the meeting notice and definitive Proxy Statement around October 25, 2024. These documents will also be available on the company's investor relations website. Reading International encourages all Class B stockholders to vote and submit their proxy in advance, regardless of their plans to attend the virtual meeting.

Consolidated Theatres, an affiliate of Reading International, Inc. (NASDAQ: RDI), is introducing a new custom beverage flavor, 'Consolidated Theatres Island Punch', created exclusively by Coca-Cola®. This proprietary blend features Fanta® Cherry, Vanilla, and Lime flavors. The launch coincides with the installation of Coca-Cola Freestyle® beverage fountains at Consolidated Theatres Ward and ʻŌlino locations, offering over 200 flavor combinations.

Additionally, Coca-Cola is rolling out -time beverage flavors inspired by movie themes, including a 'Haunted Spritz' for the upcoming film BEETLEJUICE BEETLEJUICE. The promotion runs through October 31, 2024, with early screenings starting September 5, 2024. Consolidated Theatres will also offer a special movie menu for the film's release.

Reading International (NASDAQ: RDI) reported its Q2 2024 results, showing declines due to lingering effects of the 2023 Hollywood Strikes. Total revenues fell to $46.8 million from $65.1 million in Q2 2023. The company reported an operating loss of $4.4 million compared to operating income of $1.8 million in Q2 2023. Global cinema revenue decreased 30% to $42.9 million. Real estate revenue declined slightly by 4% to $5.0 million.

Despite challenges, Reading saw some positive trends, including record F&B sales per person in Australia and the U.S. The company is taking steps to improve liquidity, including selling assets and marketing properties. Management expressed optimism about the movie slate for late 2024 and 2025, citing potential blockbusters like Beetlejuice Beetlejuice, Avatar 3, and Superman.

Reading International (NASDAQ: RDI) reported record-breaking performance for the opening weekend of Deadpool & Wolverine across its global cinema circuit. The film set new benchmarks for R-rated movies in the U.S. and MA 15+ rated movies in Australia, both in attendance and box office. It also achieved the highest opening weekend box office for premium large format screens in the U.S. since 2019.

The company's specially curated F&B menu and merchandise offerings contributed to significant revenue gains, including the highest F&B revenues for any weekend in 2024 and record-breaking merchandise sales. In Australia, a special BFF combo helped deliver the highest opening weekend F&B revenues so far in 2024.

CEO Ellen Cotter expressed optimism about the film's long-term performance and the strong momentum expected to continue into the second half of 2024 with upcoming releases.

Reading International (NASDAQ: RDI) reported its Q1 2024 results, revealing a 2% revenue drop to $45.1 million, operating loss improvement to $7.5 million, but a net loss increase to $13.2 million. The 2023 Hollywood Strikes disrupted cinema revenues, although cinema expenses were reduced, and two real estate assets were monetized to support operations. The real estate division still delivered strong first quarter results. Adjusted EBITDA loss rose to $4 million. Exchange rate fluctuations also impacted the results. A robust upcoming film schedule is expected to boost future cinema revenues. The company plans further real estate sales to enhance liquidity.

Reading International, Inc. (RDI) announces positive financial results for the fourth quarter and full year 2023 despite challenges like the 2023 Hollywood Strikes and interest rate spikes. Total Revenues increased by 10% to $222.7 million, Operating Loss reduced by 58% to $12 million, and Adjusted EBITDA significantly improved to $7.76 million. Each operating division showed growth, and key metrics like Basic loss per share and Net loss improved compared to 2022.

Reading International, Inc. (NASDAQ: RDI) announced its third-quarter results, with global total revenues of $66.6 million, a 30% increase from Q3 2022. Operating income grew by 115% to $1.0 million, and adjusted EBITDA increased by 59% to $6.1 million. The company's real estate division also showed strong performance, with the highest third-quarter revenues ever. However, macroeconomic challenges and the impact of Hollywood strikes may affect future performance.

Reading Cinemas (Australia) opens new cinema complex in Busselton, Western Australia, featuring full recliner seating and a TITAN LUXE auditorium. The company aims to provide a superior level of comfort and an unparalleled theatrical experience. Tickets for current films and Taylor Swift: The Eras Tour are now available for purchase.

Reading International, Inc. will hold its 2023 Annual Meeting of Stockholders virtually on December 7, 2023. Registered stockholders and proxyholders can attend and vote online. Class B stockholders can participate from any location with internet connectivity. Details on how to register and access the meeting will be provided in the Company's Proxy Statement. Proxy materials will be available on the Company website. Stockholders are urged to vote and submit proxies in advance.