Marcus Beats Q3 Expectations

The Marcus Corporation MCS reported upbeat results for the third quarter on Thursday. Net earnings attributable to Marcus slipped to $3,091,000, or $0.11 per share, from $4,071,000, or $0.15 per share, in the year-ago quarter. Its total revenue for the third quarter climbed 9.4% to $120.2 million from $109.8 million. However, analysts were expecting earnings of $0.05 per share on revenue of $116.3 million. Operating income jumped 29% y/y to $7,305,000 from $5,661,000. Revenue from Marcus Theatres climbed 11.5% in the quarter. "We are pleased to report record revenues and another strong third quarter, driven by record results for Marcus Theatres. The division significantly outperformed the industry for the fifth consecutive quarter. Marcus Hotels & Resorts also reported record third quarter revenues, although operating income was reduced by the temporary impact of construction for the conversion of our downtown Chicago hotel into one of the first AC Hotels by Marriott in the U.S.," said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation. Marcus shares gained 1.01% to $21.00 in pre-market trading.