Financial Data and Key Metrics Changes - Consolidated revenues for the first quarter were $148.8 million, an increase of $10.2 million or 7.4% compared to the prior year quarter, with revenue growth in both divisions [9] - Operating loss for the quarter was $20.4 million, a decline of $3.7 million compared to the prior year quarter [9] - Consolidated adjusted EBITDA for the first quarter was a loss of $0.3 million, a decrease of $2.6 million over the first quarter of fiscal 2024 [10][21] - Cash flow from operations was a use of cash of $35.3 million in the first quarter, compared to $15.1 million in the prior year quarter [21] - Total capital expenditures during the first quarter were $23 million, compared to $15.4 million in the first quarter of fiscal 2024 [22] Business Line Data and Key Metrics Changes Theater Division - Total revenue for the first quarter was $87.4 million, an increase of 7.5% compared to the prior year first quarter [11] - Comparable theater admission revenue increased by 1.3% and comparable theater attendance increased by 6.9% compared to the prior year [11] - Theater division adjusted EBITDA was $3.7 million, compared to $6.2 million in the prior year quarter [17] Hotels and Resorts Division - Revenues were $61.3 million for the first quarter, an increase of 7.2% compared to the prior year [17] - RevPAR for comparable owned hotels grew by 1.1% during the first quarter, with an overall occupancy rate decrease of 3.4 percentage points [18] - Hotels adjusted EBITDA increased by $1 million in the first quarter compared to the prior year quarter [20] Market Data and Key Metrics Changes - Comparable competitive hotels in the markets experienced RevPAR growth of 6.7% for the first quarter, indicating that the company's hotels underperformed the competitive set by 5.6 percentage points [19] - Group room revenue bookings for fiscal 2025 are running slightly ahead of the previous year, with group room pace for 2026 up 20% compared to the previous year [38] Company Strategy and Development Direction - The company plans to maintain a focus on long-term value creation while managing short-term dynamics, with expectations for growth in both theater and hotel divisions [25][34] - The company is investing in enhancing customer experience through new ScreenX auditoriums and additional concession stands at Dine-in Movie Tavern locations [30][31] - The Hilton Milwaukee renovation is expected to enhance competitiveness and capture group business once completed [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the summer movie season and the overall outlook for the year, despite challenges faced in the first quarter [26][34] - The company noted that economic uncertainty has increased, but its diversified business model provides a counterbalance [26] - Management highlighted the importance of attendance and customer experience in driving long-term growth [66] Other Important Information - The company repurchased approximately 424,000 shares of common stock for $7.1 million in cash during the quarter [23] - The balance sheet remains strong, ending the first quarter with $12 million in cash and over $192 million in total liquidity [23] Q&A Session Summary Question: Impact of concessions per patron - Management indicated that the change in food and beverage per caps was primarily due to pricing, with no significant change in incidence or basket size [44] Question: Ability to take price increases - Management expressed confidence in their ability to manage pricing, noting that customers have been willing to accept price increases in recent years [45] Question: Impact of Hilton Milwaukee renovation on pricing - Management views the renovation as an opportunity to hold or potentially increase prices, especially with the upcoming convention center demand [46][48] Question: Impact of Marcus Movie Club on ticket pricing - Initial results from the Marcus Movie Club have been positive, but its impact on ticket pricing is still minimal [54][55] Question: Group pace and market dynamics - Group room revenue bookings are performing well, particularly in recently renovated properties, with varying dynamics across different markets [57][58] Question: Strength of upcoming movie slate - Management highlighted the quality and variety of upcoming films as a positive indicator for continued momentum in attendance [61][63]

Financial Data and Key Metrics Changes - Consolidated revenues for the first quarter were $148.8 million, an increase of $10.2 million or 7.4% compared to the prior year quarter, with revenue growth in both divisions [10] - Operating loss for the quarter was $20.4 million, a decline of $3.7 million compared to the prior year quarter [10] - Consolidated adjusted EBITDA for the first quarter was a loss of $0.3 million, a decrease of $2.6 million over the first quarter of fiscal 2024 [11] - Cash flow from operations was a use of cash of $35.3 million in the first quarter, compared to cash used by operations of $15.1 million in the prior year quarter [20] - Total capital expenditures during the first quarter were $23 million, compared to $15.4 million in the first quarter of fiscal 2024 [21] Business Line Data and Key Metrics Changes Theater Division - Total revenue for the first quarter was $87.4 million, an increase of 7.5% compared to the prior year first quarter [12] - Comparable theater admission revenue increased by 1.3% and comparable theater attendance increased by 6.9% compared to the prior year [12] - Theater division adjusted EBITDA was $3.7 million, compared to $6.2 million in the prior year quarter [17] Hotels and Resorts Division - Revenues were $61.3 million for the first quarter, an increase of 7.2% compared to the prior year [18] - RevPAR for comparable owned hotels grew by 1.1% during the first quarter, with an average daily rate (ADR) increase of 8% [18] - Hotels adjusted EBITDA increased by $1 million in the first quarter compared to the prior year quarter [20] Market Data and Key Metrics Changes - Comparable competitive hotels in the markets experienced RevPAR growth of 6.7% for the first quarter, indicating that the company's hotels underperformed the competitive set by 5.6 percentage points [19] - The upper upscale segment experienced an increase in RevPAR of 2.8% during the first quarter, indicating that the company's hotels underperformed the industry by 1.7 percentage points [19] Company Strategy and Development Direction - The company plans to maintain a focus on long-term value creation while managing short-term dynamics, with expectations for growth in both theater and hotel divisions [25] - The company is investing in enhancing customer experience through new ScreenX auditoriums and additional concession stands at Dine-in Movie Tavern locations [30][32] - The company is optimistic about the film slate for the rest of the year and into 2026, with several major franchises expected to perform well [34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the first quarter did not meet expectations but expressed optimism for the summer movie season and the overall outlook for the year [25][26] - The company is prepared to react quickly to any economic uncertainties that may arise, leveraging its diversified business model [26][40] - Management emphasized the importance of attendance and customer experience, indicating a thoughtful approach to pricing in a potentially slowing economy [29][46] Other Important Information - The company repurchased approximately 424,000 shares of common stock for $7.1 million in cash during the quarter [23] - The Hilton Milwaukee renovation is progressing as planned, with 65% of the guest rooms completed and expected to be fully operational by June 30 [39] Q&A Session Summary Question: Impact of concessions per patron - Management indicated that the change in food and beverage per caps was primarily due to pricing, with no significant changes in incidence or basket size [45] Question: Ability to take price increases - Management expressed confidence in their ability to manage pricing, noting that they have successfully passed through price increases in the past [46] Question: Hilton Milwaukee renovation pricing strategy - Management views the renovation as an opportunity to hold or potentially increase prices, especially with the upcoming convention center demand [47][50] Question: Impact of Marcus Movie Club on ticket pricing - Management reported that the initial results of the subscription product are positive, but its impact is still minimal [56] Question: Group pace and market dynamics - Management noted that group business is performing well, particularly in recently renovated properties, and that bookings are solid across several markets [58] Question: Labor expense impact and staffing levels - Management indicated that higher labor costs were due to a return to normal operating hours and that there is room for improvement in labor efficiency [75][76]

分组1 - Marcus reported a quarterly loss of $0.54 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.52, and a decline from a loss of $0.38 per share a year ago [1] - The company posted revenues of $148.77 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 3.96% and up from $138.55 million year-over-year [2] - Marcus has surpassed consensus revenue estimates four times over the last four quarters, indicating a positive trend in revenue performance [2] 分组2 - The stock has underperformed, losing about 23.8% since the beginning of the year, compared to a decline of 3.9% for the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.05 on revenues of $191.3 million, and for the current fiscal year, it is $0.33 on revenues of $762.5 million [7] - The Leisure and Recreation Services industry, to which Marcus belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, which may impact stock performance [8]

Financial Performance - Total revenues for Q1 fiscal 2025 were $148.8 million, a 7.4% increase from $138.5 million in Q1 fiscal 2024[4] - Operating loss for Q1 fiscal 2025 was $20.4 million, compared to an operating loss of $16.7 million in the prior year[4] - Net loss for Q1 fiscal 2025 was $16.8 million, compared to a net loss of $11.9 million in Q1 fiscal 2024[4] - Adjusted EBITDA loss was $0.3 million for Q1 fiscal 2025, down from an Adjusted EBITDA of $2.3 million in the prior year[4] - Total revenues for the three months ended March 31, 2025, increased to $148.766 million, up from $138.547 million in the same period of 2024, representing a growth of 7.9%[24] - Theatre admissions revenue rose to $40.931 million, compared to $40.596 million in the prior year, reflecting an increase of 0.8%[24] - The net loss for the three months ended March 31, 2025, was $16.816 million, compared to a net loss of $11.866 million for the same period in 2024, indicating a deterioration of 41.8%[24] - Adjusted EBITDA for the three months ended March 31, 2025, was $(259) thousand, a decrease from $2.291 million in the prior year[34] - Operating loss for the theatre segment was $6.281 million for the three months ended March 31, 2025, compared to a loss of $5.739 million in the same period of 2024[30] Revenue Breakdown - Marcus Theatres reported total revenues of $87.4 million in Q1 fiscal 2025, a 7.5% increase compared to Q1 fiscal 2024[5] - Marcus Hotels & Resorts achieved total revenues of $52.3 million in Q1 fiscal 2025, an 8.9% increase over the prior year[9] - Same store attendance increased by 6.9% in Q1 fiscal 2025, while average ticket prices decreased by 5.1%[6] - Revenue per available room (RevPAR) increased by 1.1% at company-owned hotels in Q1 fiscal 2025[11] Shareholder Returns - The company repurchased approximately 424,000 shares for $7.1 million in Q1 fiscal 2025, totaling over $25 million returned to shareholders in the last four fiscal quarters[14] Assets and Cash Flow - Cash and cash equivalents decreased to $11.865 million as of March 31, 2025, down from $40.841 million at the end of the previous year[25] - Total assets decreased to $1.018 billion as of March 31, 2025, from $1.045 billion at the end of the previous year[25] - The company reported a net cash flow used in operating activities of $(35.329) million for the three months ended March 31, 2025, compared to $(15.098) million in the prior year[32] - Capital expenditures for the three months ended March 31, 2025, were $(23.005) million, compared to $(15.440) million in the same period of 2024[32] Debt and Renovation - Long-term debt increased to $189.062 million as of March 31, 2025, compared to $149.007 million at the end of the previous year, reflecting a rise of 26.9%[26] - The Hilton Milwaukee renovation is expected to be substantially complete in the first half of 2025, enhancing the company's portfolio[12]

Company Overview - Wall Street anticipates a year-over-year decline in earnings for Marcus (MCS) with a projected loss of $0.52 per share, reflecting a -36.8% change, while revenues are expected to reach $143.1 million, up 3.3% from the previous year [3][10]. Earnings Expectations - The upcoming earnings report for Marcus is scheduled for May 6, and the stock may rise if actual results exceed expectations, while a miss could lead to a decline [2][10]. - The consensus EPS estimate for Marcus has remained unchanged over the last 30 days, indicating stability in analyst expectations [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows that the Most Accurate Estimate for Marcus aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, suggesting no recent differing analyst views [10]. - Marcus holds a Zacks Rank of 3 (Hold), making it challenging to predict an earnings beat conclusively [11]. Historical Performance - In the last reported quarter, Marcus had an expected EPS of $0.11 but delivered $0.13, resulting in a positive surprise of +18.18% [12]. - Over the past four quarters, Marcus has beaten consensus EPS estimates two times [13]. Industry Context - In the Zacks Leisure and Recreation Services industry, Airbnb, Inc. (ABNB) is expected to report earnings of $0.25 per share, indicating a -39% year-over-year change, with projected revenues of $2.26 billion, up 5.6% from the previous year [17]. - The consensus EPS estimate for Airbnb has been revised 1.9% lower in the last 30 days, but a higher Most Accurate Estimate has resulted in an Earnings ESP of 7.39%, indicating a likelihood of beating the consensus EPS estimate [18].

Core Insights - CJ 4DPLEX and Marcus Theatres are expanding their partnership with the addition of three new 270-degree panoramic SCREENX auditoriums in Shakopee, MN, Columbus, OH, and Addison, IL, marking the first SCREENX theater in Illinois and Columbus [1][2] - The new SCREENX locations will open ahead of the 2025 blockbuster summer season and will feature luxury recliner seating, enhancing the premium moviegoing experience [2] Company Overview - CJ 4DPLEX is a leading cinema technology company known for innovative film formats such as SCREENX, 4DX, and Ultra 4DX, with headquarters in Seoul and international offices in Los Angeles and Beijing [5] - Marcus Theatres, a division of Marcus Corporation, is the fourth largest theatre circuit in the U.S., operating 985 screens across 78 locations in 17 states [9][10] Technology Insights - SCREENX is the world's first multi-projection cinema technology, providing a 270-degree panoramic viewing experience that enhances storytelling by extending visuals onto the auditorium's side walls [3][7] - The success of the initial SCREENX location at Marcus Ridge Cinema has demonstrated strong box office results, indicating a growing demand for premium cinema experiences [2][4] Market Position - The expansion of SCREENX auditoriums reflects both companies' commitment to redefining the moviegoing experience and setting new standards in the cinema industry [4] - CJ 4DPLEX has over 425 SCREENX auditoriums in 40 countries, showcasing its global reach and the popularity of its innovative cinema technologies [7]

Core Insights - Screenvision Media has announced an agreement to extend its partnership with Marcus Theatres, the fourth largest cinema exhibitor in the U.S., which has been ongoing for 16 years [2][4] - The agreement includes the introduction of "Platinum" inventory, allowing brands to advertise just before the final two trailers, enhancing the preshow experience for moviegoers [3][4] - Marcus Theatres operates 993 screens across 79 locations in 17 states, contributing to a significant footprint in major markets [6] Company Overview - Screenvision Media is a leader in cinema advertising, with a network that includes nearly half of all measured cinema admissions, comprising 14,000 screens in 2,300 theatre locations across all 50 states [5] - Marcus Theatres, a division of The Marcus Corporation, operates under various brands including Movie Tavern and BistroPlex, and is known for providing an engaging environment for audiences [6] Market Context - The enthusiasm for the 2025 box office is reportedly returning to levels not seen in years, indicating a potential recovery in cinema attendance and advertising opportunities [2] - The partnership aims to leverage exclusive content and advanced research and technology capabilities to enhance advertising effectiveness throughout the year [4]

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Core Insights - The article emphasizes the importance of value investing, which focuses on identifying undervalued companies in the market [2][3] - It highlights the use of various metrics, such as P/S and P/CF ratios, to assess the value of stocks [4][5] Company Analysis: The Marcus (MCS) - MCS has a Zacks Rank of 2 (Buy) and an A for Value, indicating strong potential as a value stock [3][7] - The P/S ratio for MCS is 0.79, significantly lower than the industry average of 1.12, suggesting it is undervalued [4] - MCS's P/CF ratio stands at 11.66, compared to the industry's average of 16.32, further indicating its attractive valuation [5] Company Analysis: UTD PARKS&RESRT (PRKS) - PRKS also holds a Zacks Rank of 2 (Buy) and a Value grade of A, making it another stock to consider for value investors [6][7] - The P/B ratio for PRKS is -6.38, contrasting sharply with the industry's price-to-book ratio of 4.43, indicating potential undervaluation [6] Conclusion - Both MCS and PRKS exhibit strong value characteristics based on their respective financial metrics, suggesting they are likely undervalued in the current market [7]

The Marcus Corporation (NYSE:MCS) Q4 2024 Results Conference Call February 27, 2025 11:00 AM ET Company Participants Gregory Marcus - Chairman, President and CEO Chad Paris - CFO and Treasurer Conference Call Participants Mike Hickey - The Benchmark Company Patrick Sholl - Barrington Research Chris Potter - Northern Border Investment Operator Good morning, everyone, and welcome to The Marcus Corporation Third Quarter Earnings Conference Call. My name is Lydia, and I'll be your operator today. [Operator Inst ...