Marcus Corp
NYSE:MCS
Marcus Corp
Marcus Corp. engages in the lodging and entertainment industries. The company is headquartered in Milwaukee, Wisconsin and currently employs 7,500 full-time employees. The company operates in two business segments: movie theatres and hotels and resorts. Its theatre operations included 85 movie theatres with 1,064 screens throughout 17 states including Wisconsin, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Arkansas, Colorado, Georgia, Kentucky, Louisiana, New York, Pennsylvania, Texas and Virginia. The company also operates a family entertainment center, Funset Boulevard, which is adjacent to one of its theatres in Appleton, Wisconsin. The hotels and resorts operations include eight wholly-owned or majority-owned and operated hotels and resorts in Wisconsin, Illinois, Nebraska and Oklahoma. The company also manages 11 hotels, resorts and other properties for third parties in Wisconsin, California, Minnesota, Nevada, Nebraska, Illinois, Iowa, Pennsylvania and Texas. The company owns and manages approximately 5,400 hotel and resort rooms.
Marcus Corp. engages in the lodging and entertainment industries. The company is headquartered in Milwaukee, Wisconsin and currently employs 7,500 full-time employees. The company operates in two business segments: movie theatres and hotels and resorts. Its theatre operations included 85 movie theatres with 1,064 screens throughout 17 states including Wisconsin, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Arkansas, Colorado, Georgia, Kentucky, Louisiana, New York, Pennsylvania, Texas and Virginia. The company also operates a family entertainment center, Funset Boulevard, which is adjacent to one of its theatres in Appleton, Wisconsin. The hotels and resorts operations include eight wholly-owned or majority-owned and operated hotels and resorts in Wisconsin, Illinois, Nebraska and Oklahoma. The company also manages 11 hotels, resorts and other properties for third parties in Wisconsin, California, Minnesota, Nevada, Nebraska, Illinois, Iowa, Pennsylvania and Texas. The company owns and manages approximately 5,400 hotel and resort rooms.
Revenue Decline: Marcus Corporation reported Q3 revenue of $210 million, down 9.7% year-over-year, driven primarily by weaker theater performance.
Theater Weakness: Theater division revenue fell 16% due to a less concentrated film slate and lack of a major blockbuster, causing attendance to drop 18.7%.
Hotel Outperformance: Hotels and Resorts revenue grew 1.7%, outperforming competitive sets despite tough comparisons to last year's Republican National Convention boost.
Profit Down: Net earnings were $16.2 million, but excluding a one-time insurance gain, earnings dropped to $13.2 million, down from $24.8 million last year.
Share Buybacks: The company repurchased over 1 million shares this year (3.2% of shares) and increased its buyback authorization by 4 million shares.
Strong Balance Sheet: Marcus ended Q3 with $214 million in liquidity and a net leverage ratio of 1.7x, leaving room for further investment or M&A.
CapEx Guidance: Capital expenditures are expected to decline to $50–55 million in 2026 after a heavy reinvestment year in 2025.
