Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, in ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2023 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number 1-12604 THE MARCUS CORPORATION (Exact name of registrant as specified in its charter) Wisconsin 39 ...

Exhibit 99.1 THE MARCUS CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2023 RESULTS Marcus Theatres and Marcus Hotels & Resorts Contributed to Strong Results Milwaukee, February 29, 2024 … The Marcus Corporation (NYSE: MCS) today reported results for the fourth quarter and fiscal year 2023 ended December 28, 2023. "Our fiscal year 2023 results marked another year of significant growth as both Marcus Theatres and Marcus Hotels & Resorts continued to drive operational excellence at our movie theatres ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 28, 2023 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 1-12604 THE MARCUS CORPORATION (Exact name of registrant as specified in its charter) Wisco ...

Financial Performance - Revenues for the second quarter of fiscal 2023 increased to $207.0 million, up 4.3% from $198.6 million in the second quarter of fiscal 2022[78] - Operating income for the second quarter of fiscal 2023 was $20.8 million, a 10.1% increase from $18.9 million in the same period last year[78] - Net earnings for the second quarter of fiscal 2023 were $13.5 million, representing a 50.3% increase compared to $9.0 million in the second quarter of fiscal 2022[78] - Adjusted EBITDA for Q2 FY2023 was $38.7 million, a 3.7% increase from $37.3 million in Q2 FY2022, and for the first half of FY2023, it was $48.2 million, up 18.5% from $40.7 million in FY2022[111] Theatre Division Performance - Admission revenues in the theatre division for the second quarter of fiscal 2023 were $69.0 million, a 9.4% increase from $63.1 million in the second quarter of fiscal 2022[84] - Total theatre attendance decreased by 3.8% during the second quarter of fiscal 2023 compared to the same period in fiscal 2022, primarily due to lower performances from top films[86] - The theatre division's operating margin improved to 14.5% in the second quarter of fiscal 2023, up from 12.7% in the second quarter of fiscal 2022[83] - Average ticket price rose by 14.2% in the second quarter of fiscal 2023, contributing an additional $8.5 million to admission revenues compared to the same period in fiscal 2022[90] - Average concession revenues per person increased by 7.3% in the second quarter of fiscal 2023, resulting in an additional $3.9 million in concession revenues compared to the prior year[91] - The top five films accounted for 64% of total box office results in the second quarter of fiscal 2023, down from 68% in the same quarter of fiscal 2022[89] - The company ended the second quarter of fiscal 2023 with 1,027 company-owned screens in 82 theatres, a decrease from 1,064 screens in 85 theatres a year earlier[96] Hotels and Resorts Performance - Hotels and resorts revenues increased by 8.5% in the second quarter of fiscal 2023, excluding the impact of the sale of The Skirvin Hilton[98] - Average daily room rate (ADR) increased by 4.5% to $187.34 in the second quarter of fiscal 2023 compared to $179.33 in the prior year[102] - RevPAR increased by 9.1% to $127.70 in the second quarter of fiscal 2023, reflecting improved occupancy rates[102] - Group business represented approximately 40% of total rooms revenue in the second quarter of fiscal 2023, up from 38% in the same quarter of fiscal 2022[103] - Hotels in competitive sets experienced a RevPAR increase of 10.1% in Q2 FY2023 compared to the same period in FY2022, while the company underperformed by approximately 1.0 percentage points[106] - For the first half of FY2023, competitive sets saw a RevPAR increase of 14.7%, leading to an underperformance of approximately 2.5 percentage points for the company[106] - Group room revenue bookings for FY2023 are running approximately 8% ahead of the same time last year, while FY2024 bookings are approximately 7% ahead of early FY2022[107] Cash Flow and Capital Expenditures - Net cash provided by operating activities totaled $47.3 million in the first half of FY2023, down from $55.2 million in the same period of FY2022[114] - Net cash used in investing activities increased to $16.6 million in the first half of FY2023 from $11.5 million in FY2022, primarily due to the absence of prior year asset sales[115] - Total cash capital expenditures for the first half of FY2023 were $15.9 million, slightly down from $16.3 million in FY2022[115] - Approximately $6.8 million of capital expenditures in FY2023 were incurred in the theatre division, with $8.9 million in the hotels and resorts division for renovations and maintenance[116] - Net cash used in financing activities during the first half of fiscal 2023 totaled $6.3 million, an increase from $4.4 million in the same period of fiscal 2022[117] Debt and Financial Position - The debt-to-capitalization ratio was 0.28 as of June 29, 2023, unchanged from December 29, 2022[118] - The company had a cash balance of approximately $44.6 million and $220.6 million available under its revolving credit facility as of June 29, 2023[113] - Principal payments on long-term debt were approximately $0.8 million in the first half of fiscal 2023, compared to $0.9 million in the first half of fiscal 2022[118] - Dividends paid during the first half of fiscal 2023 were $3.1 million, while no dividends were paid in the first half of fiscal 2022[121] - The company has approximately 2.5 million shares available for repurchase under prior Board of Directors repurchase authorizations[119] - The Credit Agreement was amended to replace the LIBOR benchmark with the secured overnight financing rate (SOFR) effective February 10, 2023[122] - The company returned to compliance with prior financial covenants under the Credit Agreement starting in the first quarter of fiscal 2023, removing limitations on quarterly dividends and share repurchases[121] - New short-term revolving credit facility borrowings added in the first half of fiscal 2023 totaled $38.0 million, with an equal amount of repayments, resulting in net zero borrowings[117] Taxation - The effective income tax rate for the first half of fiscal 2023 was 24.0%, compared to 23.1% in the first half of fiscal 2022[82] - The company anticipates an effective income tax rate for fiscal 2023 in the range of 24-28%[82] Market Conditions and Future Outlook - The company anticipates an increase in the quantity of available films in 2023 compared to the prior year, despite ongoing labor disputes affecting film production[93] - The company has not experienced any material changes in market risk exposures since December 29, 2022[124]

Financial Data and Key Metrics Changes - Total revenues for the second quarter were $207 million, an increase of 4.3% compared to the prior year quarter [27] - Operating income was $20.8 million, reflecting a 10.1% increase year-over-year [27] - Net earnings for the second quarter reached $13.5 million, over a 50% increase compared to the same quarter last year [28] - Adjusted EBITDA for the quarter was $38.7 million, a 3.7% increase from the prior year's second quarter [28] - Interest expense decreased by approximately $1 million or 24% due to a lower overall debt level, which was approximately $35 million or 16% lower than the end of the second quarter last year [6] Business Line Data and Key Metrics Changes Theaters Division - Admission revenue increased by 9.4% compared to the second quarter of 2022, despite a 3.8% decrease in comparable theater attendance [29] - Average admission price increased by 14.2% during the second quarter compared to last year [9] - Average concession food and beverage revenues per person increased by 7.3% during the second quarter compared to the previous year [21] - Theater division adjusted EBITDA was $31.3 million, an increase of 8.7% compared to the prior year [34] Hotels and Resorts Division - Revenues were $70.1 million for the second quarter, a 1.5% increase compared to the prior year [13] - Comparable hotel revenues increased by $5.5 million or 8.5% when excluding the impact of the Skirvin Hilton sale [13] - RevPAR for comparable owned hotels grew by 9.1% during the second quarter compared to the prior year [35] - Food and beverage revenue at comparable owned hotels was up 6.4% in the second quarter compared to the prior year [37] Market Data and Key Metrics Changes - U.S. box office receipts increased by 13.6% during the second quarter compared to the previous year [30] - Comparable competitive hotels experienced a RevPAR increase of 10.1% for the second quarter, indicating that the company's hotels underperformed their competitive set by approximately one percentage point [14] Company Strategy and Development Direction - The company is focused on strategic pricing initiatives to enhance admission per caps and total admission revenue throughout 2023 [19] - The Value Tuesday promotion has been positively received, with increased sales of concessions and food items [20][66] - The company plans to invest in renovations and capital expenditures of $40 million to $50 million for fiscal 2023, down from a previous estimate of $60 million to $75 million [38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the film slate for the summer, highlighting strong performances from films like "Sound of Freedom" and "Barbie" [44][45] - The company acknowledged potential disruptions from the writers and actors strikes but remains confident in the long-term demand for theatrical releases [70][72] - Group booking trends are positive, with group room revenue bookings running approximately 8% ahead of the previous year [51] Other Important Information - The company closed three underperforming theaters, which is expected to be accretive to earnings and cash flow [34] - The company ended the second quarter with $44.6 million in cash and over $265 million in total liquidity, maintaining a strong balance sheet [17] Q&A Session Summary Question: How linked are the writers and actors strike actions? - Management indicated uncertainty about the internal linkage but noted that the strikes have disrupted promotional activities for films [54] Question: How is the company managing the impact of renovations on operations? - Management stated that renovations are being scheduled during slower periods to minimize disruption [106] Question: What is the outlook for the dividend moving forward? - Management expressed confidence in the balance sheet and indicated that discussions about the dividend will continue each quarter [119] Question: How is the company addressing the impact of the convertible notes on stock performance? - Management acknowledged the short interest related to the convertible notes but emphasized the importance of maintaining market-leading positions [127] Question: What are the expectations for future capital expenditures? - Management clarified that the reduction in capital expenditure guidance is a timing shift and that investments are still a focus [140]

MAY 2023 Forward Looking Statement 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 Adjus ...

The Marcus Corporation (NYSE:MCS) Q1 2023 Earnings Conference Call May 4, 2023 11:00 AM ET Company Participants Gregory Marcus - President, CEO & Director Chad Paris - CFO & Treasurer Conference Call Participants Eric Wold - B. Riley Securities James Goss - Barrington Research Michael Hickey - Benchmark Company Ryan Hamilton - Morgan Dempsey Capital Management Chris Potter - Northern Border Investment Operator Good morning, everyone and welcome to The Marcus Corporation First Quarter Earnings Conference Cal ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 30, 2023 Commission File Number 1-12604 THE MARCUS CORPORATION | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | Wisconsin | | 39-1139844 | | (State or other jurisdiction of | | (I.R.S. Employer | | incorporation or organization) | | Ident ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2022 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number 1-12604 THE MARCUS CORPORATION (Exact name of registrant as specified in its charter) Wisconsin 39 ...