Core Insights - The Marcus Corporation reported a 9.7% decrease in total revenues for the third quarter of fiscal 2025, amounting to $210.2 million compared to $232.7 million in the same period last year [8][10] - The company experienced a significant decline in operating income, which fell by 30.7% to $22.7 million from $32.8 million year-over-year [8][10] - Net earnings decreased to $16.2 million, down from $23.3 million in the prior year, with earnings per diluted share at $0.52 compared to $0.73 [8][10] Marcus Theatres Performance - Total theatre revenues for the third quarter were $119.9 million, reflecting a 16.6% decrease from the previous year [5][30] - Same store admission revenues decreased by 15.8%, with attendance down 18.7% due to a less favorable film mix [6][30] - Adjusted EBITDA for the theatre division was $22.1 million, a 33.4% decrease from the prior year [5][30] Marcus Hotels & Resorts Performance - Total revenues for Marcus Hotels & Resorts increased by 1.7% to $80.3 million, driven by growth in food and beverage revenues [10][11] - Division operating income decreased by $0.7 million to $16.4 million, impacted by increased depreciation expenses [10][11] - Adjusted EBITDA for the hotels and resorts segment was $23.1 million, a slight increase of 0.3% compared to the previous year [10][11] Share Repurchase and Capital Return - The company repurchased 0.6 million shares for $9 million during the third quarter, with a total of over $25 million returned to shareholders in the past four quarters [2][14] - The Board of Directors authorized the repurchase of up to 4.0 million additional shares, increasing the total available for repurchase to 4.7 million shares [15][16] Future Outlook - The company anticipates a stronger film slate for the remainder of the year, with several highly anticipated releases expected to drive box office performance [9][10] - The hotel segment is expected to benefit from stable leisure travel demand and strong group business, particularly at newly renovated properties [12][10]

Core Points - Mark A. Gramz, president of Marcus Theatres, will retire on March 31, 2026, after 55 years with the company, and a search for his successor has begun [1][2][3] - Gramz started his career as a part-time associate and rose through the ranks to become president in 2022, showcasing a significant career progression within the company [3][4] - The Marcus Corporation operates the fourth largest movie theatre circuit in the U.S., with 985 screens across 78 locations in 17 states [6] Leadership Transition - A national search is underway for Gramz's successor, considering both internal and external candidates to ensure a smooth transition [1][2] - Gramz will continue to serve as an advisor post-retirement, providing operational insights and institutional knowledge [1][5] Company Background - Marcus Corporation is headquartered in Milwaukee and is a leader in the lodging and entertainment industries, with significant real estate assets [6] - The theatre division, Marcus Theatres, is complemented by the lodging division, Marcus Hotels & Resorts, which manages 16 properties across eight states [6] Achievements and Contributions - Gramz has been recognized for his leadership and philanthropic efforts, receiving the Salah M. Hassanein Humanitarian Award in October 2024 [4] - His career reflects a deep commitment to enhancing the moviegoing experience at Marcus Theatres [2][5]