MCS · The Marcus Corporation

The Marcus Corporation delivered improved Q1 fiscal 2026 results despite five fewer operating days due to a fiscal year transition to a calendar-end basis. Total revenues rose 3.8% to $154.4 million, driven by Marcus Theatres' strong 6.4% revenue growth to $92.9 million amid a robust film slate including Project Hail Mary, Hoppers, and Zootopia 2. Same-store admission revenues surged 9.8% (outperforming industry by 4.8 points), with average ticket prices up 7.8% from premium formats and favorable mix, and concessions per person up 2.4%. Theatres' operating loss narrowed to $2.8 million, with Adjusted EBITDA jumping 117.1% to $8.0 million. Marcus Hotels & Resorts saw revenues dip 1.1% to $51.7 million (pre-reimbursements) due to fewer days and winter seasonality, but RevPAR climbed 13.7%, outperforming competitive sets by 16.6 points, aided by Hilton Milwaukee's full operations post-renovation. Hotels' operating loss widened slightly to $7.9 million from higher depreciation and labor, with Adjusted EBITDA loss of $0.3 million impacted by ski conditions at Grand Geneva. CEO Gregory S. Marcus highlighted both divisions' industry outperformance, with momentum from April blockbusters like The Super Mario Galaxy Movie and Michael, and anticipation for summer franchises including Spider-Man: Brand New Day and Star Wars: The Mandalorian & Grogu. No forward guidance was provided, but management expressed confidence in spring/summer demand. Additionally, Jeffry F. Tomachek was promoted to Theatres president effective April 7, succeeding retiring Mark A. Gramz on May 1.