Marcus reports Q2 adjusted EPS 17c, consensus 2c

Reports Q2 revenue $176.03M, consensus $163.83M. “Marcus Hotels & Resorts continued its strong performance in the second quarter of fiscal 2024 as group demand continued to improve, especially midweek, and the summer travel season got started,” said Gregory S. Marcus, chief executive officer of The Marcus Corporation. “While last year’s Hollywood strikes continued to impact Marcus Theatres’ results in April and May, there was a notable positive shift in June and we ended the quarter with much stronger momentum. The blockbuster performances of Inside Out 2 and Deadpool & Wolverine, along with other strong performances from recent films like Despicable Me 4 and Twisters, continue to affirm that consumers crave seeing great movies on the big screen. As we look ahead to the second half of 2024, we are encouraged by improving trends in both businesses, including continued strong group bookings in our hotel business and an improving slate of exciting films anticipated in our theatre business.”