Blockbuster Movie Slate at Marcus Theatres and
Solid Seasonal Demand at Marcus Hotels & Resorts Drove Strong
Results
The Marcus Corporation (NYSE: MCS) today reported results for
the third quarter fiscal 2023 ended September 28, 2023.
“It was another strong quarter for The Marcus Corporation, with
growth in revenue, operating income, net earnings and Adjusted
EBITDA during the third quarter of fiscal 2023,” said Gregory S.
Marcus, chairman, president and chief executive officer of The
Marcus Corporation. “Marcus Theatres led the way with the box
office phenomenon ‘Barbenheimer,’ along with the surprise hit,
Sound of Freedom, delivering strong performances and impressive
attendance growth at theatres across our circuit. At Marcus Hotels
& Resorts, our peak leisure travel season was bolstered by
great weather, while group travel continued to show strong demand.
We are pleased by the continued performance of both divisions and
remain focused on driving operational and financial excellence in
all facets of our business.”
Third Quarter Fiscal 2023
Highlights
- Total revenues for the third quarter of fiscal 2023 were $208.8
million, a 13.7% increase from total revenues of $183.7 million for
the third quarter of fiscal 2022.
- Operating income was $20.9 million for the third quarter of
fiscal 2023, a 133.9% increase from operating income of $8.9
million for the prior year quarter.
- Net earnings was $12.2 million for the third quarter of fiscal
2023, a 272.0% increase from net earnings of $3.3 million for the
same period in fiscal 2022.
- Net earnings per diluted common share was $0.32 for the third
quarter of fiscal 2023, a 220.0% increase from net earnings per
diluted common share of $0.10 for the third quarter of fiscal
2022.
- Adjusted EBITDA was $42.3 million for the third quarter of
fiscal 2023, a 51.9% increase from Adjusted EBITDA of $27.9 million
for the prior year quarter.
First Three Quarters Fiscal 2023
Highlights
- Total revenues for the first three quarters of fiscal 2023 were
$568.0 million, a 10.4% increase from total revenues of $514.4
million for the first three quarters of fiscal 2022.
- Operating income was $32.8 million for the first three quarters
of fiscal 2023, a 196.6% increase from operating income of $11.0
million for the first three quarters of fiscal 2022.
- Net earnings was $16.2 million for the first three quarters of
fiscal 2023, compared to net loss of $2.7 million for the same
period in fiscal 2022.
- Net earnings per diluted common share was $0.46 for the first
three quarters of fiscal 2023, compared to net loss per diluted
common share of $0.09 for the first three quarters of fiscal
2022.
- Adjusted EBITDA was $90.5 million for the first three quarters
of fiscal 2023, a 32.1% increase from Adjusted EBITDA of $68.5
million for the first three quarters of fiscal 2022.
Marcus Theatres®
Revenue, operating income and Adjusted EBITDA for Marcus
Theatres improved significantly in the third quarter and first
three quarters of fiscal 2023 compared to the same periods in
fiscal 2022.
For the third quarter of fiscal 2023, the division reported
total revenues of $126.6 million, a 25.0% increase compared to the
same period last year, with comparable same store admission
revenues increasing 29.8% compared to the third quarter of fiscal
2022. Operating income of $11.4 million in the third quarter of
fiscal 2023 improved from an operating loss of $0.7 million in the
third quarter of fiscal 2022 thanks to strong revenue growth and
improved labor productivity. The division reported Adjusted EBITDA
of $26.7 million in the third quarter of fiscal 2023, an increase
of 114.3% compared to the third quarter of fiscal 2022.
Marcus Theatres attendance grew 15.6% at comparable same store
theatres during the third quarter of fiscal 2023 compared to the
same period last year, on a strong performance from blockbuster
films. Average ticket price and average concession revenues
continued to be positively impacted by the new Value Tuesday
program, with average ticket price up 12.8% and average concession
revenues up 6.5% during the third quarter of fiscal 2023 compared
to the same period last year.
“Overall attendance in the third quarter grew significantly
thanks to the strong performance of a variety of exciting films
like Barbie and Oppenheimer,” said Mark A. Gramz, president of
Marcus Theatres. “Moviegoers also came to enjoy films that were
more under the radar, like Sound of Freedom, which played very well
in our markets. The lesson continues to be that when there are
great films to be seen – blockbuster, mid-sized or alternative
content - moviegoers of all ages want to experience them on the big
screen.”
Marcus Theatres’ top five highest-performing films in the third
quarter of fiscal 2023 were Barbie, Oppenheimer, Sound of Freedom,
Indiana Jones and the Dial of Destiny and Mission: Impossible –
Dead Reckoning Part One. The fourth quarter of fiscal 2023 is
already off to a strong start with Taylor Swift: The Eras Tour
producing the highest box office concert film of all time in North
America. Films such as The Exorcist: Believer, PAW Patrol: The
Mighty Movie, Saw X, The Creator and Five Nights at Freddy’s are
also performing well during the first few weeks of the fourth
quarter of fiscal 2023.
While film schedule changes may occur, there are several new
films planned to be released during the remainder of fiscal 2023
that have the potential to perform very well, including: The
Marvels, The Holdovers, Trolls Band Together, Hunger Games: The
Ballad of Songbirds and Snakes, Wish, Napoleon, Renaissance: A Film
by Beyoncé, Wonka, Aquaman and the Lost Kingdom, and The Color
Purple.
Marcus® Hotels & Resorts
For the third quarter of fiscal 2023, Marcus Hotels &
Resorts comparable hotels revenues before cost reimbursements
increased 4.1% from the third quarter of fiscal 2022 (which
excludes the impact from the sale of The Skirvin Hilton). For the
first three quarters of fiscal 2023, comparable hotels revenues
before cost reimbursements increased 7.0%.
Revenue per available room, or RevPAR, increased at six of seven
comparable company-owned hotels during the third quarter of fiscal
2023 compared to the third quarter of fiscal 2022. As a result, the
division outperformed the industry and its competitive sets during
the third quarter of fiscal 2023 by 2.3 percentage points and 0.8
percentage points, respectively.
"The third quarter is typically our strongest given the peak
summer leisure travel season, and this year was no different," said
Michael R. Evans, president of Marcus Hotels & Resorts. "Group
demand continues to grow and we are capitalizing on our newly
renovated meeting spaces with event bookings. Our strong commitment
to operational excellence and exceptional service, combined with
our continued investment in our award-winning properties, ideally
positions our hotels and resorts to stand out within the markets
where they compete.”
Group booking pace for fiscal 2023 and fiscal 2024 are running
ahead of comparable pace during the same period of fiscal 2022.
Banquet and catering booking pace for fiscal 2023 and 2024 are also
ahead compared to the same period last year.
In October, four Marcus Hotels & Resorts properties earned
high honors in Condé Nast Traveler’s Readers’ Choice Awards. The
Pfister Hotel and Saint Kate – The Arts Hotel, both in Milwaukee,
were named the #2 and #4 in Top Hotels in the Midwest. The Kimpton
Hotel Monaco Pittsburgh was recognized as the #9 Top Hotel in the
Mid-Atlantic and The Garland in North Hollywood, California was
ranked the #16 Top Hotel in Los Angeles. The Condé Nast Traveler
Readers’ Choice Awards are the longest-running and most prestigious
recognition of excellence in the travel industry and are commonly
known as “the best of the best of travel.”
Grand Geneva Resort & Spa in Lake Geneva, Wisconsin,
recently announced the continuation of its multi-phased renovation
at the iconic resort. With newly redesigned guest rooms and suites,
updates to the resorts lobby and lobby lounge, and the addition of
a new outdoor dining venue complete, the Grand Geneva is now
beginning renovations of its 62,000 square foot meeting and event
space. These renovations are expected to be complete by spring
2024. In addition, the Timber Ridge Lodge & Waterpark, located
on the same resort campus as the Grand Geneva, will be unveiling
new experiences in November 2023 at its popular Moose Mountain
Falls indoor waterpark ahead of the holiday travel season.
Balance Sheet and
Liquidity
At the end of the third quarter of fiscal 2023, the company had
$256.7 million in cash and revolving credit availability.
Subsequent to the end of the third quarter, on October 16, 2023,
The Marcus Corporation entered into a credit agreement amendment to
provide for a new $225 million five-year revolving credit facility
that matures in October 2028. This replaces the previous credit
facility that was set to mature in January 2025. Commenting on the
new credit agreement, Chad M. Paris, chief financial officer and
treasurer, said: “The successful closing of this facility
demonstrates our continued proactive approach to managing our
balance sheet. Maintaining a strong balance sheet has been a
hallmark of The Marcus Corporation for 88 years. Our new credit
facility ensures we have significant liquidity and financial
flexibility to invest in our long-term future growth. The continued
support from our long-term relationships within our lending group
is greatly appreciated.”
Diluted weighted average shares outstanding and diluted net
earnings per common share include the dilutive effect of conversion
of the Company’s convertible notes to the extent conversion is
dilutive in each period. During the third quarter of fiscal 2023
and 2022, diluted weighted average shares outstanding includes 9.2
million and 9.1 million shares, respectively, from the dilutive
effect of the convertible notes. During the first three quarters of
fiscal 2023, diluted weighted average shares outstanding includes
9.2 million shares from the dilutive effect of the convertible
notes, which were excluded from diluted weighted average shares
outstanding during the first three quarters of fiscal 2022 as the
convertible notes were antidilutive. Diluted weighted average
shares outstanding does not include the benefit from the capped
call transactions the Company entered into in connection with the
issuance of the convertible notes, which mitigate the dilutive
effect of the convertible notes by approximately 2.7 million and
2.6 million shares during the third quarter of fiscal 2023 and
2022, respectively, when settled at the maturity date of the
convertible notes. Upon conversion, the convertible notes may be
settled, at the Company’s election, in cash, shares of common stock
or a combination thereof. To the extent the Company settles the
convertible notes in cash, there will be no incremental dilution
from the settlement of the convertible notes.
Conference Call and
Webcast
The Marcus Corporation management will hold a conference call
today, Wednesday, November 1, 2023, at 10:00 a.m. Central/11:00
a.m. Eastern time. Interested parties may listen to the call live
on the internet through the investor relations section of the
company's website: www.marcuscorp.com, or by dialing 1-646-904-5544
and entering the passcode 589766. Listeners should dial in to the
call at least 5-10 minutes prior to the start of the call or should
go to the website at least 15 minutes prior to the call to download
and install any necessary audio software.
A telephone replay of the conference call will be available
through Wednesday, November 8, 2023, by dialing 1-866-813-9403 and
entering passcode 473940. The webcast will be archived on the
company’s website until its next earnings release.
Non-GAAP Financial
Measure
Adjusted EBITDA has been presented in this press release as a
supplemental measure of financial performance that is not required
by, or presented in accordance with, GAAP. The company defines
Adjusted EBITDA as net earnings (loss) attributable to The Marcus
Corporation before investment income or loss, interest expense,
other expense, gain or loss on disposition of property, equipment
and other assets, equity earnings or losses from unconsolidated
joint ventures, net earnings or losses attributable to
noncontrolling interests, income taxes, depreciation and
amortization and non-cash share-based compensation expense,
adjusted to eliminate the impact of certain items that the company
does not consider indicative of its core operating performance. A
reconciliation of this measure to the equivalent measure under
GAAP, along with reconciliations of this measure for each of our
operating segments, are set forth in the attached table.
Adjusted EBITDA is a key measure used by management and the
company’s board of directors to assess the company’s financial
performance and enterprise value. The company believes that
Adjusted EBITDA is a useful measure, as it eliminates certain
expenses and gains that are not indicative of the company’s core
operating performance and facilitates a comparison of the company’s
core operating performance on a consistent basis from period to
period. The company also uses Adjusted EBITDA as a basis to
determine certain annual cash bonuses and long-term incentive
awards, to supplement GAAP measures of performance to evaluate the
effectiveness of its business strategies, to make budgeting
decisions, and to compare its performance against that of other
peer companies using similar measures. Adjusted EBITDA is also used
by analysts, investors and other interested parties as a
performance measure to evaluate industry competitors.
Adjusted EBITDA is a non-GAAP measure of the company’s financial
performance and should not be considered as an alternative to net
earnings (loss) as a measure of financial performance, or any other
performance measure derived in accordance with GAAP and it should
not be construed as an inference that the company’s future results
will be unaffected by unusual or non-recurring items. Additionally,
Adjusted EBITDA is not intended to be a measure of liquidity or
free cash flow for management’s discretionary use. In addition,
this non-GAAP measure excludes certain non-recurring and other
charges and has its limitations as an analytical tool. You should
not consider Adjusted EBITDA in isolation or as a substitute for
analysis of the company’s results as reported under GAAP. In
evaluating Adjusted EBITDA, you should be aware that in the future
the company will incur expenses that are the same as or similar to
some of the items eliminated in the adjustments made to determine
Adjusted EBITDA, such as acquisition expenses, preopening expenses,
accelerated depreciation, impairment charges and other adjustments.
The company’s presentation of Adjusted EBITDA should not be
construed to imply that the company’s future results will be
unaffected by any such adjustments. Definitions and calculations of
Adjusted EBITDA differ among companies in our industries, and
therefore Adjusted EBITDA disclosed by the company may not be
comparable to the measures disclosed by other companies.
About The Marcus
Corporation
Headquartered in Milwaukee, The Marcus Corporation is a leader
in the lodging and entertainment industries, with significant
company-owned real estate assets. The Marcus Corporation’s theatre
division, Marcus Theatres®, is the fourth largest theatre circuit
in the U.S. and currently owns or operates 993 screens at 79
locations in 17 states under the Marcus Theatres, Movie Tavern® by
Marcus and BistroPlex® brands. The company’s lodging division,
Marcus® Hotels & Resorts, owns and/or manages 15 hotels,
resorts and other properties in eight states. For more information,
please visit the company’s website at www.marcuscorp.com.
Certain matters discussed in this press release are
“forward-looking statements” intended to qualify for the safe
harbors from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements may
generally be identified as such because the context of such
statements include words such as we “believe,” “anticipate,”
“expect” or words of similar import. Similarly, statements that
describe our future plans, objectives or goals are also
forward-looking statements. Such forward-looking statements are
subject to certain risks and uncertainties which may cause results
to differ materially from those expected, including, but not
limited to, the following: (1) the adverse effects the COVID-19
pandemic, or future pandemics, may have on our theatre and hotels
and resorts businesses, results of operations, liquidity, cash
flows, financial condition, access to credit markets and ability to
service our existing and future indebtedness; (2) the availability,
in terms of both quantity and audience appeal, of motion pictures
for our theatre division (including disruptions in the production
of films due to events such as a strike by actors, writers or
directors); (3) the effects of theatre industry dynamics such as
the maintenance of a suitable window between the date such motion
pictures are released in theatres and the date they are released to
other distribution channels; (4) the effects of adverse economic
conditions in our markets; (5) the effects of adverse economic
conditions on our ability to obtain financing on reasonable and
acceptable terms, if at all; (6) the effects on our occupancy and
room rates caused by the relative industry supply of available
rooms at comparable lodging facilities in our markets; (7) the
effects of competitive conditions in our markets; (8) our ability
to achieve expected benefits and performance from our strategic
initiatives and acquisitions; (9) the effects of increasing
depreciation expenses, reduced operating profits during major
property renovations, impairment losses, and preopening and
start-up costs due to the capital intensive nature of our business;
(10) the effects of changes in the availability of and cost of
labor and other supplies essential to the operation of our
business; (11) the effects of weather conditions, particularly
during the winter in the Midwest and in our other markets; (12) our
ability to identify properties to acquire, develop and/or manage
and the continuing availability of funds for such development; (13)
the adverse impact on business and consumer spending on travel,
leisure and entertainment resulting from terrorist attacks in the
United States, other incidents of violence in public venues such as
hotels and movie theatres or epidemics; and (14) a disruption in
our business and reputational and economic risks associated with
civil securities claims brought by shareholders. These statements
are not guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond our
control and difficult to predict and could cause actual results to
differ materially from those expressed or forecasted in the
forward-looking statements. Our forward-looking statements are
based upon our assumptions, which are based upon currently
available information. Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating
the forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements made herein are made only as of the date of this press
release and we undertake no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances.
THE MARCUS CORPORATION
Consolidated Statements of
Earnings (Loss)
(Unaudited)
(in thousands, except per share
data)
13 Weeks Ended
39 Weeks Ended
September 28,
2023
September 29,
2022
September 28,
2023
September 29,
2022
Revenues:
Theatre admissions
$
63,652
$
49,424
$
180,274
$
150,928
Rooms
36,456
36,924
82,959
83,219
Theatre concessions
54,551
44,715
156,633
138,326
Food and beverage
20,214
21,444
53,980
54,969
Other revenues
23,908
22,174
65,024
62,173
198,781
174,681
538,870
489,615
Cost reimbursements
9,985
8,969
29,179
24,832
Total revenues
208,766
183,650
568,049
514,447
Costs and expenses:
Theatre operations
62,742
54,756
180,716
160,921
Rooms
11,594
11,856
31,232
30,530
Theatre concessions
20,738
17,868
59,069
56,054
Food and beverage
15,266
16,150
43,285
43,325
Advertising and marketing
6,025
6,544
16,703
17,003
Administrative
19,854
19,995
59,171
56,703
Depreciation and amortization
19,158
16,452
51,028
50,435
Rent
6,592
6,672
19,679
19,500
Property taxes
4,663
4,911
13,952
14,636
Other operating expenses
10,532
10,528
30,596
29,463
Impairment charges
684
—
684
—
Reimbursed costs
9,985
8,969
29,179
24,832
Total costs and expenses
187,833
174,701
535,294
503,402
Operating income
20,933
8,949
32,755
11,045
Other income (expense):
Investment income (loss)
445
(35
)
1,064
(762
)
Interest expense
(2,869
)
(3,688
)
(8,970
)
(11,843
)
Other income (expense)
(477
)
(472
)
(1,355
)
(1,278
)
Equity earnings (losses) from
unconsolidated joint ventures
75
30
(127
)
(104
)
(2,826
)
(4,165
)
(9,388
)
(13,987
)
Earnings (loss) before income
taxes
18,107
4,784
23,367
(2,942
)
Income tax expense (benefit)
5,873
1,495
7,133
(289
)
Net earnings (loss)
12,234
3,289
16,234
(2,653
)
Net earnings (loss) per common share -
diluted
$
0.32
$
0.10
$
0.46
$
(0.09
)
Weighted average shares outstanding -
diluted
40,974
40,702
40,935
31,481
THE MARCUS CORPORATION
Condensed Consolidated Balance
Sheets
(Unaudited)
(In thousands)
September 28,
2023
December 29,
2022
Assets:
Cash and cash equivalents
$
36,036
$
21,704
Restricted cash
4,046
2,802
Accounts receivable
21,426
21,455
Assets held for sale
1,831
460
Other current assets
22,793
17,474
Property and equipment, net
687,384
715,765
Operating lease right-of-use assets
183,674
194,965
Other assets
96,743
89,973
Total Assets
$
1,053,933
$
1,064,598
Liabilities and Shareholders'
Equity:
Accounts payable
$
29,360
$
32,187
Taxes other than income taxes
19,009
17,948
Other current liabilities
70,346
78,787
Current portion of finance lease
obligations
2,561
2,488
Current portion of operating lease
obligations
15,054
14,553
Current maturities of long-term debt
10,411
10,432
Finance lease obligations
13,354
15,014
Operating lease obligations
182,826
195,281
Long-term debt
159,681
170,005
Deferred income taxes
33,093
26,567
Other long-term obligations
45,340
44,415
Equity
472,898
456,921
Total Liabilities and Shareholders'
Equity
$
1,053,933
$
1,064,598
THE MARCUS CORPORATION
Business Segment
Information
(Unaudited)
(In thousands)
Theatres
Hotels/
Resorts
Corporate
Items
Total
13 Weeks Ended September 28,
2023
Revenues
$
126,585
$
82,098
$
83
$
208,766
Operating income (loss)
11,377
14,377
(4,821
)
20,933
Depreciation and amortization
14,258
4,817
83
19,158
Adjusted EBITDA
26,694
19,447
(3,811
)
42,330
13 Weeks Ended September 29,
2022
Revenues
$
101,258
$
82,300
$
92
$
183,650
Operating income (loss)
(723
)
14,120
(4,448
)
8,949
Depreciation and amortization
11,632
4,733
87
16,452
Adjusted EBITDA
12,454
19,065
(3,654
)
27,865
39 Weeks Ended September 28,
2023
Revenues
$
359,811
$
207,975
$
263
$
568,049
Operating income (loss)
32,707
15,450
(15,402
)
32,755
Depreciation and amortization
37,063
13,706
259
51,028
Adjusted EBITDA
71,749
30,372
(11,635
)
90,486
39 Weeks Ended September 29,
2022
Revenues
$
310,186
$
203,958
$
303
$
514,447
Operating income (loss)
7,687
17,963
(14,605
)
11,045
Depreciation and amortization
35,686
14,484
265
50,435
Adjusted EBITDA
45,986
33,282
(10,752
)
68,516
Corporate items include amounts not
allocable to the business segments. Corporate revenues consist
principally of rent and the corporate operating loss includes
general corporate expenses. Corporate information technology costs
and accounting shared services costs are allocated to the business
segments based upon several factors, including actual usage and
segment revenues.
Supplemental Data
(Unaudited)
(In thousands)
13 Weeks Ended
39 Weeks Ended
Consolidated
September 28,
2023
September 29,
2022
September 28,
2023
September 29,
2022
Net cash flow provided by (used in)
operating activities
$
21,316
$
5,134
$
68,642
$
60,362
Net cash flow provided by (used in)
investing activities
(10,240
)
(11,388
)
(26,882
)
(22,863
)
Net cash flow provided by (used in)
financing activities
(19,848
)
(40,369
)
(26,184
)
(44,758
)
Capital expenditures
(9,940
)
(11,142
)
(25,836
)
(27,483
)
THE MARCUS CORPORATION
Reconciliation of Net earnings
(loss) to Adjusted EBITDA
(Unaudited)
(In thousands)
13 Weeks Ended
39 Weeks Ended
September 28,
2023
September 29,
2022
September 28,
2023
September 29,
2022
Net earnings (loss)
$
12,234
$
3,289
$
16,234
$
(2,653
)
Add (deduct):
Investment (income) loss
(445
)
35
(1,064
)
762
Interest expense
2,869
3,688
8,970
11,843
Other expense (income)
477
384
1,355
1,545
(Gain) loss on disposition of property,
equipment and other assets
242
88
1,019
(267
)
Equity (earnings) losses from
unconsolidated joint ventures
(75
)
(30
)
127
104
Income tax expense (benefit)
5,873
1,495
7,133
(289
)
Depreciation and amortization
19,158
16,452
51,028
50,435
Share-based compensation (a)
1,313
2,464
5,000
7,036
Impairment charges (b)
684
—
684
—
Adjusted EBITDA
$
42,330
$
27,865
$
90,486
$
68,516
Reconciliation of Operating
income (loss) to Adjusted EBITDA by Reportable Segment
(Unaudited)
(In thousands)
13 Weeks Ended September 28,
2023
39 Weeks Ended September 28,
2023
Theatres
Hotels & Resorts
Corp. Items
Total
Theatres
Hotels & Resorts
Corp. Items
Total
Operating income (loss)
$
11,377
$
14,377
$
(4,821
)
$
20,933
$
32,707
$
15,450
$
(15,402
)
$
32,755
Depreciation and amortization
14,258
4,817
83
19,158
37,063
13,706
259
51,028
Loss (gain) on disposition of property,
equipment and other assets
233
9
—
242
537
482
—
1,019
Share-based compensation (a)
142
244
927
1,313
758
734
3,508
5,000
Impairment charges (b)
684
—
—
684
684
—
—
684
Adjusted EBITDA
$
26,694
$
19,447
$
(3,811
)
$
42,330
$
71,749
$
30,372
$
(11,635
)
$
90,486
13 Weeks Ended September 29,
2022
39 Weeks Ended September 29,
2022
Theatres
Hotels & Resorts
Corp. Items
Total
Theatres
Hotels & Resorts
Corp. Items
Total
Operating income (loss)
$
(723
)
$
14,120
$
(4,448
)
$
8,949
$
7,687
$
17,963
$
(14,605
)
$
11,045
Depreciation and amortization
11,632
4,733
87
16,452
35,686
14,484
265
50,435
Share-based compensation (a)
1,545
212
707
2,464
2,613
835
3,588
7,036
Adjusted EBITDA
$
12,454
$
19,065
$
(3,654
)
$
27,865
$
45,986
$
33,282
$
(10,752
)
$
68,516
(a)
Non-cash expense related to share-based
compensation programs.
(b)
Non-cash impairment charges related to one
permanently closed theatre in fiscal 2023.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231031462213/en/
Chad Paris (414) 905-1036 investors@marcuscorp.com
Marcus (NYSE:MCS)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Marcus (NYSE:MCS)
Gráfica de Acción Histórica
De May 2023 a May 2024