Marcus Corporation reports record revenues of $152 million

Freeman Staff

July 27, 2017

MILWAUKEE — At the end of the second quarter, The Marcus Corporation reported record revenues of $152.775 million, a 13.2 percent increase from revenues of $134.978 million for the second quarter of fiscal 2016.

In addition, the operating income for the second quarter of fiscal 2017 was a record $18.741 million, a 2.6 percent increase from operating income of $18.261 for the second quarter of fiscal 2016. Net earnings attributable to The Marcus Corporation were $10.124 million for the second quarter of fiscal 2017, an 8.4 percent increase from net earnings attributable to The Marcus Corporation of $9.336 million for the second quarter of fiscal 2016.

“We are pleased that The Marcus Corporation again delivered increased operating results for our shareholders. Marcus Theatres reported record revenues and operating income in the second quarter and continued to outperform the industry, despite a weaker overall film slate. Results for Marcus Theatres were also impacted by pre-opening expenses related to two new theatres that opened during the quarter. Marcus Hotels & Resorts once again outperformed the competitive set in its markets, despite challenges posed by the April Easter holiday, which resulted in reduced group bookings during that period,“ said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation, in a statement.

For the second quarter, Marcus Theatres reported a 22.7 percent increase in revenues and a 14.9 percent increase in operating income during the second quarter over the prior year period. Marcus Theatres outperformed the change in national box office revenues by nearly one percentage point on a comparable theatre basis compared to the same corresponding weeks in the prior year, according to Rentrak.

The five top-performing films for Marcus Theatres in the second quarter of fiscal 2017 were “Guardians of the Galaxy Vol. 2”, “Wonder Woman””, The Fate of the Furious”, “The Boss Baby” and “Beauty and the Beast.”