Reading International Inc (RDI) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thanks for joining the 2026 first quarter earnings call for Reading International Inc. My name is Gilbert Avanis. I'm the company's chief financial officer and treasurer. Joining me today is Ellen Cotter, our president and CEO. After I run through the normal caveats, I'll start first by presenting the results from our 2026 first quarter. I'll also talk about our balance sheet, liquidity, and provide a summary of our debt position. Then I'll turn the call over to Ellen, who will discuss our business strategy. After that, we'll address some specific questions that came in from our stockholders, understanding that we have tried to weave answers to many stockholder questions into our prepared remarks. So let me start with running through the usual caveats. Some of the statements that we make today regarding our business operations and financial performance may be considered forward-looking. Such statements are based on the current expectation and assumptions that are subject to a number of risks and uncertainties. We undertake no obligation to update any forward-looking statement. Actual results could differ materially. Please refer to our forms 10-K and 10-Q, including the risk factors. During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in our earnings release issued May 15, 2026, which is distributed and available to the public through the investor relations tab on our website at reading rdi.com. With that behind us, I'll go over the results from q1 2026. But before I do that, I want to summarize a few notable events that occurred in the first quarter of 2026. In February 2026, we classified our cinemas 123 property has held for sale. This is following our December 2025 acquisition of t...