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 ...

Theatre Operations - As of December 29, 2022, the company operated 85 movie theatres with a total of 1,064 screens across 17 states, making it the 4th largest theatre circuit in the United States[8]. - The acquisition of Movie Tavern in 2019 added 208 screens at 22 locations, increasing the total number of screens by approximately 23% for the company[12]. - As of December 29, 2022, 66 theatres, or approximately 78% of the company's theatres, offered DreamLounger recliner seating, which has increased attendance and outperformed nearby competitors[13]. - The company offers digital cinema projection on 100% of its screens, allowing for alternative content programming, including live performances and sports events[19]. - As of December 29, 2022, the company had the capability to offer digital 3D presentations in approximately 34% of its screens, including most UltraScreens[23]. - The company introduced the Marcus Private Cinema program, which accounted for approximately 21% of admission revenues during peak weeks in fiscal 2021[17]. - The company plans to invest approximately $15 - $20 million in capital expenditures for theatre upgrades in fiscal 2023[157]. - The company introduced the Marcus Passport program in January 2023, allowing customers access to a series of films at a discounted rate[158]. - The company plans to expand its subscription programs to additional markets in fiscal 2023[158]. - The company aims to modernize pricing strategies, including successful promotions like "Value Tuesday" and "Student Thursday," to increase movie-going frequency[157]. - The company is exploring new viewing experiences, including a 4DX auditorium and a ScreenX auditorium, to enhance customer engagement[158]. Financial Performance - Revenues for fiscal 2022 were $677.4 million, a 47.8% increase from $458.2 million in fiscal 2021[171]. - Operating income improved to $8.3 million in fiscal 2022, compared to an operating loss of $41.5 million in fiscal 2021, marking a 120.0% increase[171]. - Net loss attributable to The Marcus Corporation decreased to $12.0 million in fiscal 2022 from $43.3 million in fiscal 2021, a 72.3% improvement[171]. - Interest expense decreased by $3.4 million, or 18.2%, to $15.3 million in fiscal 2022 compared to $18.7 million in fiscal 2021[176]. - The effective income tax rate for fiscal 2022 was (147.6)%, with an anticipated range of 24-26% for fiscal 2023[183]. - The company has resumed paying dividends, but future payments are restricted by debt agreements and depend on financial performance[90]. - The company anticipates total sales proceeds from real estate sales during the next fiscal year to be approximately $5 - $10 million[170]. Customer Engagement and Loyalty - Approximately 5.1 million members are enrolled in the Magical Movie Rewards loyalty program, accounting for 45% of box office transactions and 40% of total transactions in fiscal 2022[18]. - The company has continued to enhance its mobile ticketing capabilities and installed additional technology to improve customer interactions at theatres[18]. Competition and Market Challenges - The company faces intense competition from larger national and regional chains, as well as local franchises, which have greater financial and marketing resources[50]. - The company competes with various alternative motion picture distribution channels, including streaming services, which are producing theatrical-quality original content[71]. - The hotel and resorts division may face adverse effects from an oversupply of hotel rooms in major markets, leading to decreased occupancy and profitability[74]. - Intense competition exists across all business segments, with no significant barriers to entry in the motion picture exhibition industry, impacting the ability to attract patrons[75]. - Labor costs, including wages and benefits, are significant and could increase due to regulatory actions, impacting the ability to attract and retain quality employees[76]. Operational Challenges - The company is experiencing challenges related to a labor shortage, impacting its ability to service increasing customer counts in both theatres and hotels[59]. - Supply chain disruptions, including shortages and delays, may negatively impact the availability and cost of critical items, affecting operations[77]. - Seasonal variations lead to unpredictable quarterly results, with the first fiscal quarter typically being the weakest due to reduced travel during winter months[80]. - Economic downturns, particularly in the Midwest, could adversely affect demand for business and group travel, impacting the hotels and resorts division[83]. Investments and Capital Expenditures - The company invested approximately $391 million over the last nine-plus years to enhance the movie-going experience and amenities in new and existing theatres[12]. - Aggregate cash capital expenditures, acquisitions, and contributions to joint ventures were $36.8 million in fiscal 2022, up from $19.5 million in fiscal 2021[153]. - The company expects cash capital expenditures to increase to a range of $60 million to $75 million during fiscal 2023[153]. - Strategic initiatives in the theatre and hotels divisions require significant capital expenditures, with no assurance of generating sufficient cash flow for expected returns[98]. Real Estate and Asset Management - The company sold The Skirvin Hilton for $36.75 million on December 16, 2022[34]. - The company reported a gain of $6.3 million from the sale of The Skirvin Hilton on December 16, 2022[180]. - The company formed a joint venture with Searchlight Capital Partners in December 2021 to co-invest in lifestyle hotels and resorts[167]. - The company expects to pursue additional management contracts and may acquire other hotel management companies to enhance growth[168]. Regulatory and Compliance Issues - The company is subject to substantial government regulations, which could entail significant costs and impact operations[105]. - Changes in tax rates and legislation could adversely affect the company's financial condition and operating results[106]. - Environmental regulations have not materially affected the company's capital expenditures or earnings, but they complicate real estate transactions[54]. Employee Relations - As of December 29, 2022, the company employed approximately 8,050 employees, with about 61% working on a variable or part-time basis[58]. - Approximately 5% of the company's employees are covered by collective bargaining agreements, with none expiring before December 28, 2023[58]. - The company emphasizes a commitment to diversity and inclusion in its workplace, promoting ethical conduct and adherence to a code of conduct among all employees[60].

Marcus Corp (NYSE:MCS) Q4 2022 Earnings Conference Call March 2, 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 Associates Operator Good morning, everyone, and welcome to the Marcus Corporation Fourth Quarter Earnings Conference Call. My name is Emily, and I'll be your operator for today. [Operator Instructions]. As a reminder, this conference is being ...

The Marcus Corporation (NYSE:MCS) Q3 2022 Earnings Conference Call November 3, 2022 11:00 AM ET Company Participants Greg Marcus - President and Chief Executive Officer Chad Paris - Chief Financial Officer and Treasurer Conference Call Participants Jim Goss - Barrington Research Mike Hickey - The Benchmark Company Andrew Shapiro - Lawndale Capital Management Operator Good morning, everyone and welcome to The Marcus Corporation Third Quarter Earnings Conference Call. My name is Nadia and I will be your opera ...