Reading International Inc. reported a second-quarter net profit of $2.3 million, a turnaround from a $2.7 million loss in the same period last year, as revenue increased 11% to $66.9 million.
The company, which operates cinemas and real estate properties, posted adjusted EBITDA of $11.3 million, up 79% from $6.3 million a year earlier. Global operating income rose 159% to $7.5 million, while total segment operating income climbed 55% to $10.7 million. Basic earnings per share came in at $0.10, exceeding Wall Street estimates of $0.06 and reversing a loss of $0.12 per share in Q2 2025.
Cinema revenue reached $63 million, an 11% increase, with operating income up 68% to $9.2 million. Real estate revenues edged up 4% to $4.9 million. International operations contributed 53% of total revenue, led by Australia and New Zealand, where the Australian dollar strengthened 11% against the U.S. dollar during the quarter.
For the six months ended June 30, revenue rose 11% to $112 million, while the net loss narrowed to $5.9 million from $7.4 million in the prior-year period. Adjusted EBITDA increased to $10.4 million, up from $9.2 million. Basic loss per share improved to $0.26 from $0.33.
On the balance sheet, total assets stood at $429.4 million as of June 30, down from $434.9 million at year-end 2025. Cash and equivalents totaled $5.7 million, while total borrowings decreased to $183.1 million from $185.1 million. The company reported potential tax-affected net operating losses of approximately $40 million.
Chief Executive Ellen Cotter highlighted that second-quarter revenue of $66.9 million was the highest for a second quarter in six years, with the global cinema division posting its strongest quarterly revenue since late 2019. Chief Financial Officer Gilbert Avanes noted that second-quarter cinema operating earnings were the best since 2019, and total company operating results were the strongest since 2018.
The company’s stock rose 19.9% in premarket trading to $1.75, following the earnings release, and remained near its 52-week high of $1.771. Reading International operates cinemas including Minetta Lane Theatre in New York and properties in Australia, New Zealand, and the U.S., with several locations undergoing renovations or closures in recent quarters.
