earnings
confidence high
sentiment negative
materiality 0.80
Marcus Corp Q2 net loss $20.2M; rev down 15%; repurchases $86.4M notes, issues $100M debt
MARCUS CORP
- Total revenues $176M, down 15% YoY from $207M; operating income fell to $2.2M from $20.8M.
- Net loss $20.2M ($0.64/share) vs prior-year net income $13.5M ($0.35); adjusted net loss $5.2M ($0.17).
- Marcus Hotels revenues $63.8M (+5.6% YoY), RevPAR up 6.5%; occupancy neared pre-pandemic level.
- Marcus Theatres revenues $101.5M (-26% YoY) due to Hollywood strikes; June momentum from Inside Out 2.
- Repurchased $86.4M of convertible notes; issued $100M senior notes (6.89%/7.02%) to refinance; $13.6M notes remain.