Reading International reported second‑quarter Operating Income of $7.5 million, a 159 % rise from $2.9 million a year earlier, delivering its first profit since 2021. The profit swing improves cash generation prospects and signals momentum ahead of a holiday box‑office surge and underpins Earnings guidance for 2026.

Key Highlights

  • Operating income rose 159% to $7.5 million, the strongest quarter since Q2 2018.
  • EBITDA increased 79% to $11.3 million, while Net Income turned positive at $2.3 million.
  • Australian and New Zealand cinema circuits drove an 11% Revenue lift to $66.9 million, contributing 53% of total revenues.

Reading International posted total revenues of $66.9 million for the quarter ended June 30, 2026, an 11% increase from $60.4 million a year earlier and the highest second‑quarter total since the pre‑pandemic era. Operating income climbed to $7.5 million, reflecting a 159% improvement over the $2.9 million recorded in Q2 2025, while EBITDA rose 79% to $11.3 million. Net income reversed a $2.8 million loss to a $2.3 million gain, and Basic Earnings Per Share advanced from a $0.12 loss to $0.10.

The results demonstrate a turnaround that could enhance Cash Flow and support upcoming Capital initiatives.

Record Operating Income

Operating income of $7.5 million marked the strongest quarterly performance since Q2 2018, surpassing the prior year’s $2.9 million level by more than double. This surge originated from a combination of higher cinema revenues and steady real‑estate earnings, while general and administrative expenses fell 19% on a global basis. The higher operating income improves the firm’s ability to meet those near‑term obligations without resorting to additional financing.

Cinema Revenue Surge

Global cinema revenue reached $63.0 million, an 11% increase and the highest quarter since Q4 2019, with the Australian circuit alone posting a 31% jump in total revenue versus Q2 2025. Australian theatres set new records for box‑office receipts, food‑and‑beverage sales, average ticket price and spend per patron. These cinema gains, amplified by a 10.8% strengthening of the Australian dollar, support the company’s revenue growth and suggest further upside as upcoming releases attract audiences.

Real Estate Stability and Liquidity

Ongoing asset monetization includes the planned sale of the Cinemas 123 building in New York and the Newberry Yard train yard in Williamsport, Pennsylvania. The solid real‑estate base, together with the cash position, helps offset the rise in short‑term Debt and supports the company’s ability to fund operations and strategic initiatives.

Upcoming Earnings Call

An Earnings Call webcast will be posted to the corporate website on Tuesday, August 18, 2026, providing management commentary on the second‑quarter performance and outlook for the remainder of the year. The forthcoming discussion will clarify how the firm intends to Leverage its stronger operating results and real‑estate Assets as it moves toward the seasonal peak.