Marcus Corporation (MCS) Tops Q1 EPS by 1c, Beats on Revenues

Marcus Corporation (NYSE: MCS) reported Q1 EPS of $0.35, $0.01 better than the analyst estimate of $0.34. Revenue for the quarter came in at $168.2 million versus the consensus estimate of $158.53 million.

First Quarter Fiscal 2018 Highlights

• Total revenues for the first quarter of fiscal 2018 were a record $168,191,000, a 1.7% increase from revenues of $165,456,000 for the first quarter of fiscal 2017.
• Operating income was $17,016,000 for the first quarter of fiscal 2018, a 7.8% decrease from operating income of $18,453,000 for the first quarter of fiscal 2017.
• Net earnings attributable to The Marcus Corporation were $9,821,000 for the first quarter of fiscal 2018, a 3.9% increase from net earnings attributable to The Marcus Corporation of $9,453,000 for the first quarter of fiscal 2017.
• Net earnings per diluted common share attributable to The Marcus Corporation were $0.35 for the first quarter of fiscal 2018, a 6.1% increase from net earnings per diluted common share attributable to The Marcus Corporation of $0.33 for the first quarter of fiscal 2017.

“We are pleased by the strong start to the year, with record revenues that represented the highest revenues in any quarter in our history. Our net earnings were also a record and benefited from a lower income tax rate as part of the tax reform legislation signed into law in December 2017,” said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation. “Revenues for Marcus Theatres were up slightly over last year’s strong first quarter to set another new all-time record, with the division continuing to outperform the industry. Marcus Hotels & Resorts also reported record revenues for the quarter, despite the traditionally slower winter season, and also outperformed its respective competitive set in its markets.”

For earnings history and earnings-related data on Marcus Corporation (MCS) click here.

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