Reading International reports Q1 EPS (59c) vs (50c) last year

Reports Q1 revenue $45.052M vs $45.807M last year. President and Chief Executive Officer, Ellen Cotter said, “We’re encouraged by the resilience of our Company to weather the recent hurdles. The 2023 Hollywood Strikes caused delays in major studio releases leading to a dip in cinema revenues during the First Quarter of 2024. However, we reduced our operating loss reflecting enhanced operational efficiency. We believe that as the effects of the 2023 Hollywood Strikes fade, a movie release schedule that is fuller and more compelling will boost cinema revenues through the next three quarters of 2024 and into 2025. The remainder of the 2024 film schedule is robust, featuring highly anticipated releases such as Inside Out 2, Deadpool & Wolverine, Joker: Folie a Deux, Wicked, and Gladiator 2. The outlook for 2025 is equally promising, with Disney planning nearly twice as many releases compared to 2024, benefiting from the studio’s renewed emphasis on creativity and original storytelling. In addition, 2025 will see James Cameron’s Avatar 3, Tom Cruise in Mission: Impossible 8, a new Jurassic World film from Universal, and James Gunn’s Superman from DC Studios for Warner Bros. These upcoming blockbusters are expected to energize the box office and keep moviegoers engaged.”