- Marcus Corp MCS reported second-quarter FY21 sales growth of 1066% year-on-year, to $92.55 million, beating the analyst consensus of $83.53 million.
- Operating loss narrowed 50.8% Y/Y to $(26.1) million.
- Total costs and expenses soared 94.5% Y/Y to $118.7 million.
- The company held $15.1 million in cash and equivalents as of July 1, 2021.
- Adjusted loss per share was $(0.67), versus the consensus for a loss of $(0.76).
- "While it will take some time to return to pre-pandemic levels, we are encouraged by the positive momentum in both our operating businesses which contributed to positive company-wide adjusted EBITDA for the month of June," said CEO Gregory S. Marcus.
- Price action: MCS shares are trading lower by 2.75% at $15.21 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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