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Sep 26, 2024
Marcus Q3 2024 Earnings Report
Reported record third quarter fiscal 2024 results, driven by strong contributions from both Marcus Hotels & Resorts and Marcus Theatres, each significantly outperforming their respective industries
Key Takeaways
The Marcus Corporation reported record results for the third quarter fiscal 2024, with total revenues of $232.7 million, a 11.4% increase from the prior year. Operating income was a record $32.8 million, a 56.6% increase, and net earnings was a record $23.3 million, a 90.6% increase compared to the same period in fiscal 2023.
Total revenues for the third quarter of fiscal 2024 were a record $232.7 million, an 11.4% increase from total revenues of $208.8 million for the third quarter of fiscal 2023.
Operating income was a record $32.8 million for the third quarter of fiscal 2024, a 56.6% increase compared to operating income of $20.9 million for the prior year quarter.
Net earnings was a record $23.3 million for the third quarter of fiscal 2024, a 90.6% increase compared to net earnings of $12.2 million for the same period in fiscal 2023.
Adjusted EBITDA was a record $52.3 million for the third quarter of fiscal 2024, a 23.5% increase compared to Adjusted EBITDA of $42.3 million for the prior year quarter.
Revenue by Segment
Forward Guidance
The remainder of the fourth quarter of fiscal 2024 includes an exciting slate of diverse films, including the highly anticipated debuts of Gladiator II, Wicked, and Moana 2.
Positive Outlook
- Impressive array of high-quality films headed for the big screen this holiday season and into 2025
- Continued improvements in group bookings in our hotel division
- Gladiator II, Wicked, and Moana 2 releases
- Group booking pace for the remainder of fiscal 2024 is running ahead of the same period in fiscal 2023.
- Fiscal 2025 booking pace is running significantly ahead compared to the same period last year
Challenges Ahead
- Anticipate some softening of our leisure business as we head into the traditionally slower winter travel months
- The adverse effects future pandemics or epidemics may have on our theatre and hotels and resorts businesses
- Disruptions in the production of films due to events such as a strike by actors, writers or directors or future pandemics
Historical Earnings Impact
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Avg. Return Before/After Earnings
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