The Marcus Corporation (NYSE: MCS) has reported its second quarter fiscal 2025 results, highlighting significant improvements in various financial metrics compared to the same period in fiscal 2024.
For the second quarter of fiscal 2025, total revenues stood at $206.0 million, marking a 17.0% increase from the $176.0 million reported in the second quarter of fiscal 2024. Additionally, operating income for the same period saw a substantial increase, rising to $13.0 million from $2.2 million in the prior year quarter.
Net earnings for the second quarter of fiscal 2025 amounted to $7.3 million, a notable improvement from the net loss of $20.2 million in the same period of fiscal 2024. Furthermore, the company reported adjusted EBITDA of $32.3 million for the second quarter of fiscal 2025, reflecting a robust 46.9% increase from the $22.0 million reported for the prior year quarter.
In the first half of fiscal 2025, total revenues reached $354.8 million, marking a 12.8% increase from the $314.6 million reported in the first half of fiscal 2024. Operating loss for the first half of fiscal 2025 was $7.4 million, an improvement from the operating loss of $14.4 million in the first half of fiscal 2024. Net loss for the first half of fiscal 2025 amounted to $9.5 million, compared to a net loss of $32.1 million in the first half of fiscal 2024. Adjusted EBITDA for the first half of fiscal 2025 was $32.0 million, reflecting a 32.0% increase from the $24.3 million reported for the first half of fiscal 2024.
In the theater division, Marcus Theatres® reported significant improvements in revenues, operating income, and adjusted EBITDA for the second quarter of fiscal 2025. Total revenues for this period were $131.7 million, a 29.8% increase compared to the second quarter of fiscal 2024. The division's operating income was $15.7 million, marking a substantial increase from the prior year quarter. Adjusted EBITDA for Marcus Theatres® was $26.5 million, reflecting a robust 76.2% increase from the second quarter of fiscal 2024.
For the same period, same store admission revenues increased by 29.3%, while same store attendance saw a 26.7% increase. Additionally, average concession revenues per person increased by 3.1% compared to the prior year quarter.
Marcus Hotels & Resorts reported total revenues before cost reimbursements of $64.6 million for the second quarter of fiscal 2025, representing a 1.2% increase over the prior year quarter. However, the operating income for this period decreased by $1.9 million and was impacted by an increase in depreciation expense of $1.7 million following hotel renovations completed in 2024. Adjusted EBITDA for the division was $11.2 million, reflecting a 1.8% decrease compared to the prior year quarter.
The company also provided a list of several films that contributed to early fiscal 2025 third quarter results and shared plans for the remainder of the year.
The market has reacted to these announcements by moving the company's shares -6.6% to a price of $15.29. If you want to know more, read the company's complete 8-K report here.
