The Marcus Corporation reports developments across its entertainment and hospitality businesses, with Marcus Theatres operating movie theatres under the Marcus Theatres, Movie Tavern by Marcus and BistroPlex brands and Marcus Hotels & Resorts owning and managing hotels, resorts and other properties. Company news commonly covers box-office trends, film-slate performance, food-and-beverage concepts such as Zaffiro's, Reel Sizzle, Take Five Lounges and in-auditorium dining, and hotel operating measures such as RevPAR.
Updates also include quarterly results, conference participation, annual shareholder meeting matters, division leadership changes and governance topics. The company's releases often connect theatre attendance, dining formats and hospitality demand with the performance of its company-owned real estate and managed-property portfolio.
The Marcus (NYSE: MCS) has declared a regular quarterly cash dividend of $0.07 per share of common stock, payable December 16, 2024, to shareholders of record on November 25, 2024. Additionally, a dividend of $0.064 per share was declared on the non-publicly traded Class B common stock, with the same payment and record dates. Marcus operates in lodging and entertainment industries, with Marcus Theatres® being the fourth largest theatre circuit in the U.S., managing 993 screens at 79 locations across 17 states. The company's lodging division, Marcus® Hotels & Resorts, operates 16 properties in eight states.
The Marcus (NYSE: MCS) reported record third quarter fiscal 2024 results with total revenues of $232.7 million, up 11.4% year-over-year. Net earnings reached $23.3 million, a 90.6% increase from the prior year. Marcus Theatres saw a 13.6% revenue increase to $143.8 million, with attendance growing 7.1%. Marcus Hotels & Resorts reported revenues of $79.0 million, up 9.6%. The company completed $10 million in share repurchases and retired convertible debt. Both divisions outperformed their respective industries, benefiting from strong room rates during the Republican National Convention and an improved film slate.
The Marcus (NYSE: MCS) has announced the release date for its third quarter fiscal 2024 results. The company will report its results before the stock market opens on Thursday, October 31, 2024. Following the release, a conference call will be held at 10:00 a.m. Central/11:00 a.m. Eastern time.
Investors and interested parties can access the call through the company's website or by dialing 1-404-975-4839 with passcode 935227. A telephone replay will be available until November 14, 2024, by dialing 1-866-813-9403 with passcode 167289. The webcast will remain archived on the company's website until the next earnings release.
The Marcus (NYSE: MCS) has filed a new universal shelf registration statement with the SEC, replacing its expiring prior statement. This allows the company to potentially offer up to $150 million in various securities, including debt securities, common stock, preferred stock, and warrants. The filing provides flexibility for future public offerings, with specifics to be detailed in prospectus supplements as needed.
CEO Gregory S. Marcus described the filing as a proactive step to efficiently facilitate potential future capital raising for business expansion, acquisitions, growth opportunities, or debt repayment. The Marcus is a leader in lodging and entertainment industries, operating 981 screens at 79 locations in 17 states under various brands, and owning or managing 16 hotels and resorts in 8 states.
Marcus Hotels & Resorts, a division of The Marcus (NYSE: MCS), announced that four of its properties have been recognized in the Condé Nast Traveler 2024 Readers' Choice Awards. The honored properties include:
1. The Pfister Hotel - No. 8 top hotel in the Midwest (8th consecutive year)
2. Saint Kate – The Arts Hotel - No. 11 top hotel in the Midwest
3. Grand Geneva Resort & Spa - No. 2 top resort in the Midwest
4. Kimpton Hotel Monaco Pittsburgh - No. 2 top hotel in the Mid-Atlantic
Michael Evans, president of Marcus Hotels & Resorts, expressed gratitude for the recognition, attributing it to the dedication of their associates. The Pfister Hotel is undergoing a $20 million reinvestment, while Saint Kate offers an immersive arts experience. Grand Geneva Resort & Spa is an all-seasons destination, and Kimpton Hotel Monaco Pittsburgh connects guests to the 'Steel City'.
Marcus Theatres (NYSE:MCS) is reviving its Reel Movies for Real Needs program at 18 locations across 8 states. This initiative, suspended in 2020 due to COVID-19, offers sensory-friendly movie screenings with lower volume and brighter lighting for those who may be uncomfortable in typical cinema environments. The program caters to an estimated 5% to 16.5% of the population experiencing sensory processing disorders.
Screenings will take place on Saturday mornings at 11 a.m., featuring first-run family-friendly films. The upcoming lineup includes titles like Beetlejuice, Transformers One, and The Wild Robot. This program is part of Marcus Theatres' broader accessibility efforts, which include cost-saving options and language-accessible screenings.
The Marcus (NYSE: MCS) has announced that CFO Chad M. Paris will participate in two upcoming investor conferences in September 2024. These include Benchmark's 11th Annual Tech/Media/Telecom Conference on September 5 in New York City and the 17th Annual Barrington Research Virtual Fall Investment Conference on September 12.
Both conferences offer opportunities for one-on-one and small group meetings with investors. The Marcus , headquartered in Milwaukee, is a leader in the lodging and entertainment industries. Its theatre division, Marcus Theatres, is the fourth largest theatre circuit in the U.S., operating 995 screens at 79 locations across 17 states. The company's lodging division, Marcus Hotels & Resorts, manages 16 properties in eight states.
The Marcus (NYSE: MCS) has declared a regular quarterly cash dividend of $0.07 per share of common stock, payable on September 16, 2024, to shareholders of record on August 26, 2024. Additionally, a dividend of $0.064 per share on the Class B common stock was declared, with the same payment and record dates. Marcus , headquartered in Milwaukee, is a leader in the lodging and entertainment industries. Its theatre division, Marcus Theatres®, is the fourth largest theatre circuit in the U.S., operating 995 screens at 79 locations in 17 states. The company's lodging division, Marcus® Hotels & Resorts, manages 16 hotels, resorts and other properties in eight states.
The Marcus (NYSE: MCS) reported its Q2 fiscal 2024 results, showing mixed performance across its divisions. Marcus Hotels & Resorts demonstrated strong performance with a 5.6% increase in total revenues and a 6.5% increase in RevPAR. However, Marcus Theatres faced challenges due to the lingering effects of the 2023 Hollywood strikes, resulting in a revenue decrease to $101.5 million from $136.9 million in Q2 fiscal 2023.
Overall, the company reported total revenues of $176.0 million, a 15.0% decrease from the previous year. The company incurred a net loss of $20.2 million, partly due to debt conversion expenses related to convertible senior notes repurchases. Adjusted EBITDA for Q2 fiscal 2024 was $22.0 million, compared to $38.7 million in the prior year quarter.
The Marcus (NYSE: MCS) has announced that it will release its second quarter fiscal 2024 results before the stock market opens on Thursday, August 1, 2024. Following the release, the company will host a conference call at 10:00 a.m. Central/11:00 a.m. Eastern time to discuss the results.
Investors and analysts can participate in the call by either listening live through the investor relations section of the company's website or by dialing 1-404-975-4839 with passcode 979410. A telephone replay will be available until August 8, 2024, by dialing 1-866-813-9403 with passcode 848375. The webcast will remain archived on the company's website until the next earnings release.