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Sep 29, 2022
Marcus Q3 2022 Earnings Report
Marcus's Q3 2022 performance improved significantly, driven by strong results from Marcus Hotels & Resorts, which exceeded pre-pandemic levels, while Marcus Theatres was impacted by a lighter film slate.
Key Takeaways
Marcus Corporation reported a strong third quarter in fiscal year 2022, with total revenues increasing by 25.9% compared to the prior year. The company's performance was driven by the Hotels & Resorts division, which exceeded pre-pandemic levels. The Theatres division was impacted by a lighter film slate, but overall the company generated positive cash flow from operations.
Total revenues increased by 25.9% to $183.7 million compared to Q3 2021.
Operating income increased to $8.9 million, compared to $6.3 million in the prior year quarter.
Net earnings attributable to The Marcus Corporation was $3.3 million, compared to $1.8 million in the same period last year.
Marcus Hotels & Resorts outperformed pre-pandemic third quarter of fiscal 2019.
Forward Guidance
The company anticipates strong demand from moviegoers due to several highly anticipated films coming to the big screen during the remainder of the year.
Positive Outlook
- Quality of new films releasing in the coming months
- Anticipation building for the debut of Avatar: The Way of Water
- Several films performed well early in the fourth quarter of fiscal 2022
- Magical Movie Rewards Program celebrated its five millionth member
- 15,000 new members joining the program every month
Historical Earnings Impact
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Avg. Return Before/After Earnings
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