The Marcus(US:MCS)2025-10-31 13:01Financial Performance - Total revenues for Q3 fiscal 2025 were $210.2 million, a 9.7% decrease from $232.7 million in Q3 fiscal 2024[4] - Operating income for Q3 fiscal 2025 was $22.7 million, a 30.7% decrease from $32.8 million in the prior year quarter[4] - Net earnings for Q3 fiscal 2025 were $16.2 million, down from $23.3 million in Q3 fiscal 2024, with a $3.0 million gain from a property insurance settlement[4] - Net earnings per diluted share for Q3 fiscal 2025 were $0.52, compared to $0.73 in Q3 fiscal 2024[4] - Adjusted EBITDA for Q3 fiscal 2025 was $40.4 million, a 22.6% decrease from $52.3 million in the prior year quarter[4] - Net earnings for the three months ended September 30, 2025, were $16,230 million, a decrease from $23,314 million in the same period of 2024, representing a decline of approximately 30%[37] - Adjusted EBITDA for the three months ended September 30, 2025, was $40,446 million, down from $52,275 million in the prior year, reflecting a decrease of about 22.6%[39] - Adjusted EBITDA for the nine months ended September 30, 2025, was $72,454 million, down from $76,526 million in the same period of 2024, reflecting a decrease of approximately 5.3%[39] Revenue Breakdown - Marcus Theatres reported total revenues of $119.9 million for Q3 fiscal 2025, a 16.6% decrease compared to Q3 fiscal 2024[6] - Same store admission revenues decreased 15.8% in Q3 fiscal 2025, with attendance down 18.7%[7] - Marcus Hotels & Resorts reported total revenues of $80.3 million for Q3 fiscal 2025, a 1.7% increase over Q3 fiscal 2024[11] - Theatre admissions revenue was $57.714 million, down 16.3% from $68.980 million year-over-year[27] - The theatre division generated revenues of $119.941 million for the three months ended September 30, 2025, down from $143.843 million in the same period of 2024[33] - The lodging division reported revenues of $90.129 million for the three months ended September 30, 2025, compared to $88.738 million in the prior year, indicating a growth of 1.4%[33] Shareholder Returns - The company repurchased 0.6 million shares for $9 million during Q3 fiscal 2025, with a total of over $25 million returned to shareholders in the past four quarters[3][15] - The Board of Directors authorized the repurchase of up to 4.0 million additional shares, adding to the existing program[16] Assets and Cash Flow - Cash and cash equivalents decreased to $7.388 million as of September 30, 2025, from $40.841 million at the end of 2024[28] - Total assets decreased to $1.004 billion as of September 30, 2025, compared to $1.045 billion at the end of 2024[29] - The company reported a net cash flow from operating activities of $39.089 million for the three months ended September 30, 2025, compared to $30.497 million in the same period of 2024[35] Expenses and Charges - Operating income for the Hotels & Theatres segment was $12,331 million for the three months ended September 30, 2025, compared to $21,761 million in the same period of 2024, indicating a decline of approximately 43.5%[39] - Depreciation and amortization expenses for the three months ended September 30, 2025, totaled $16,835 million, slightly lower than $17,274 million in the same period of 2024[39] - Interest expense for the three months ended September 30, 2025, was $2,766 million, compared to $3,062 million in the same period of 2024, showing a decrease of about 9.7%[37] - The company reported an income tax expense of $7,960 million for the three months ended September 30, 2025, an increase from $5,406 million in the same period of 2024, representing a rise of approximately 47.4%[37] - Share-based compensation for the three months ended September 30, 2025, was $1,230 million, down from $2,225 million in the same period of 2024, indicating a decrease of about 44.8%[39] - The company recorded an impairment charge of $0 million for the three months ended September 30, 2025, compared to $472 million in the same period of 2024[40] - The company incurred debt conversion expenses of $0 million for the three months ended September 30, 2025, compared to $1,410 million in the same period of 2024[41] Overall Operating Performance - The company's operating income for the nine months ended September 30, 2025, was $15.326 million, down from $18.354 million in the same period of 2024[27]