Strong movie lineup propels Marcus Corp.

Last updated on July 2nd, 2019 at 09:41 am

The Marcus Corp. today reported record revenues and increased earnings for its fiscal first quarter.

 
Total revenues for the quarter were a record $129.0 million, up 9.4 percent from revenues of $117.9 million for the same period a year ago.

The Milwaukee-based company’s quarterly net earnings grew to $13.4 million, or 50 cents per share, from $10.7 million, 37 cents per share, a year earlier.

“This was an excellent quarter for The Marcus Corp. Our record first quarter revenues were driven by a strong summer movie slate for Marcus Theatres, along with a solid contribution from Marcus Hotels & Resorts. The 26-percent increase in net earnings made this our best first quarter since before the 2008 recession,” said Gregory Marcus, president and chief executive officer of The Marcus Corp. “First quarter operating income for Marcus Theatres increased 27.4 percent, setting a new first quarter record. Revenues were up 10.8 percent for the quarter. This strong performance highlights the positive impact a broad slate of hit pictures can have on our results.”

The five top-performing films for Marcus Theatres for the first quarter were Despicable Me 2 (3D), Monsters University (3D), Man of Steel (3D), The Heat and World War Z (3D), said Rolando Rodriguez, president and chief executive officer of Marcus Theatres.

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