Marcus Corporation Reports First Quarter Fiscal 2025 Results
The Marcus Corporation has released its financial results for the first quarter of fiscal 2025, ending March 31, 2025. The company, a leader in the lodging and entertainment industries, reported a mixed performance with both positive and negative financial indicators.
Financial Highlights
For the first quarter of fiscal 2025, Marcus Corporation reported total revenues of $148.8 million, marking a 7.4% increase from the $138.5 million reported in the same period of fiscal 2024. Despite this revenue growth, the company experienced an operating loss of $20.4 million, compared to a $16.7 million loss in the prior year quarter. The net loss for the quarter was $16.8 million, up from $11.9 million in the first quarter of fiscal 2024. Net loss per diluted common share was $0.54, compared to $0.38 in the previous year.
Business and Operational Highlights
Marcus Theatres, the company's theatre division, reported a 7.5% increase in total revenues to $87.4 million. This growth was partly due to four additional operating days in the quarter. However, the division's operating loss widened to $6.3 million from $5.7 million in the prior year. Adjusted EBITDA for the theatres was $3.7 million, down from $6.2 million in the first quarter of fiscal 2024. The hotel division, Marcus Hotels & Resorts, saw an 8.9% increase in total revenues to $52.3 million, driven by a strong ski season at Grand Geneva Resort & Spa. The division's operating loss was $6.0 million, impacted by increased depreciation expenses on renovated assets.
Strategic Initiatives and Corporate Developments
During the first quarter, Marcus Corporation repurchased approximately 424,000 shares of common stock for $7.1 million. Over the last four fiscal quarters, the company has returned over $25 million to shareholders through share repurchases and dividends. Additionally, the company announced the addition of three new 270-degree panoramic SCREENX auditoriums in Illinois, Minnesota, and Ohio, enhancing its theatre offerings.
Management's Perspective
Gregory S. Marcus, CEO of Marcus Corporation, acknowledged the softer-than-expected first quarter box office but expressed optimism for the remainder of the year, citing a strong slate of upcoming films. He also highlighted the continued growth in group business for the hotel division and the positive impact of recent renovations. Mark A. Gramz, president of Marcus Theatres, noted the strong start to the second quarter with the success of "A Minecraft Movie" and other films, anticipating continued momentum into the summer movie season.
Future Outlook
Looking ahead, Marcus Corporation expects to benefit from a robust lineup of highly anticipated films and strong bookings at its recently renovated hotels. The company remains confident in its strategic initiatives and its ability to deliver value to shareholders through continued capital returns and operational improvements.
SEC Filing: MARCUS CORP [ MCS ] - 8-K - May. 06, 2025