$MCS

MARCUS CORP

CIK:0000062234|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Revenues other than cost reimbursements	$ 220,710	$ 195,672	$ 364,716	$ 334,581
Cost reimbursements	11,034	10,371	21,432	20,228
Total revenues	231,744	206,043	386,148	354,809
Costs and expenses:
Advertising and marketing	6,774	6,644	12,509	11,888
Administrative	23,691	22,972	49,002	47,688
Depreciation and amortization	17,350	17,603	35,185	35,441
Rent	6,358	6,354	12,545	12,571
Property taxes	4,055	4,328	8,337	8,737
Other operating expenses	10,115	10,332	20,678	20,938
Loss (gain) on disposition of property, equipment and other assets	113	181	194	(1,184)
Reimbursed costs	11,034	10,371	21,432	20,228
Total costs and expenses	204,677	193,036	378,342	362,214
Operating income (loss)	27,067	13,007	7,806	(7,405)
Other income (expense):
Investment income	66	409	86	483
Interest expense	(2,734)	(2,981)	(5,364)	(5,803)
Other income (expense)	(393)	(443)	(840)	(887)
Equity earnings (losses) from unconsolidated joint ventures	(15)	75	(689)	(495)
Nonoperating income (expense), total	(3,076)	(2,940)	(6,807)	(6,702)
Earnings (loss) before income taxes	23,991	10,067	999	(14,107)
Income tax expense (benefit)	8,147	2,746	508	(4,612)
Net earnings (loss)	$ 15,844	$ 7,321	$ 491	$ (9,495)
Common Stock
Net earnings (loss) per share - basic:
Common stock (in dollars per share)	$ 0.53	$ 0.24	$ 0.02	$ (0.31)
Net earnings (loss) per share - diluted:
Common stock (in dollars per share)	0.51	0.23	0.02	(0.31)
Class B Common Stock
Net earnings (loss) per share - basic:
Common stock (in dollars per share)	0.48	0.22	0.02	(0.28)
Net earnings (loss) per share - diluted:
Common stock (in dollars per share)	$ 0.48	$ 0.22	$ 0.02	$ (0.28)
Theatre admissions
Revenues:
Revenue from contract with customer	$ 72,557	$ 62,348	$ 117,382	$ 103,279
Rooms
Revenues:
Revenue from contract with customer	33,706	29,632	54,168	48,907
Costs and expenses:
Cost of goods and services sold	11,785	11,086	22,103	20,992
Theatre concessions
Revenues:
Revenue from contract with customer	65,264	57,611	104,829	95,611
Costs and expenses:
Cost of goods and services sold	26,180	23,337	43,350	40,788
Food and beverage
Revenues:
Revenue from contract with customer	22,509	21,291	39,969	39,120
Costs and expenses:
Cost of goods and services sold	16,697	15,656	31,753	30,285
Other revenues
Revenues:
Revenue from contract with customer	26,674	24,790	48,368	47,664
Theatre operations
Costs and expenses:
Cost of goods and services sold	$ 70,525	$ 64,172	$ 121,254	$ 113,842

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES:
Net earnings (loss)	$ 491	$ (9,495)
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:
Losses on investments in joint ventures	689	495
Distribution from joint venture	0	68
Loss (gain) on disposition of property, equipment and other assets	194	(1,184)
Proceeds from sale of historic tax credits	2,975	0
Depreciation and amortization	35,185	35,441
Amortization of debt issuance costs	281	314
Share-based compensation	5,450	4,986
Deferred income taxes	(550)	(5,870)
Changes in operating assets and liabilities:
Accounts receivable	(698)	(1,267)
Other assets	(1,402)	(6,437)
Operating leases	(1,334)	(1,053)
Accounts payable	(2,968)	(13,679)
Income taxes	881	1,132
Taxes other than income taxes	115	(204)
Accrued compensation	(1,433)	(8,233)
Other accrued liabilities	3,428	1,116
Other long-term obligations	(2,562)	181
Total adjustments	38,251	5,806
Net cash provided by (used in) operating activities	38,742	(3,689)
INVESTING ACTIVITIES:
Capital expenditures	(16,649)	(39,915)
Proceeds from disposals of property, equipment and other assets	156	212
Proceeds from sale of trading securities	0	8,187
Other investing activities	18	(29)
Net cash used in investing activities	(16,475)	(31,545)
Debt transactions:
Proceeds from borrowings on revolving credit facility	82,000	105,000
Repayment of borrowings on revolving credit facility	(92,000)	(84,000)
Principal payments on long-term debt	0	(392)
Principal payments on finance lease obligations	(1,433)	(1,323)
Equity transactions:
Treasury stock transactions, except for stock options	(2,700)	(7,612)
Exercise of stock options	1,090	10
Dividends paid	(4,819)	(4,329)
Net cash provided by (used in) financing activities	(17,862)	7,354
Net increase (decrease) in cash, cash equivalents and restricted cash	4,405	(27,880)
Cash, cash equivalents and restricted cash at beginning of period	26,582	44,579
Cash, cash equivalents and restricted cash at end of period	30,987	16,699
Supplemental Information:
Interest paid, net of amounts capitalized	5,057	5,356
Income taxes paid	177	125
Change in accounts payable for additions to property, equipment and other assets	$ 1,402	$ (336)

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 26,345	$ 23,448
Restricted cash	4,642	3,134
Accounts receivable, net of reserves of $289 and $209, respectively	19,780	19,082
Other current assets	20,951	18,912
Total current assets	71,718	64,576
Property and equipment:
Land and improvements	148,172	142,063
Buildings and improvements	751,823	744,861
Leasehold improvements	167,054	165,646
Furniture, fixtures and equipment	454,073	448,196
Finance lease right-of-use assets	30,723	30,675
Construction in progress	10,155	15,376
Total property and equipment	1,562,000	1,546,817
Less accumulated depreciation and amortization	880,201	849,105
Net property and equipment	681,799	697,712
Operating lease right-of-use assets	139,148	142,115
Other assets:
Investments in joint ventures	3,797	4,486
Goodwill	74,996	74,996
Deferred income taxes	3,568	6,449
Other	24,523	24,198
Total other assets	106,884	110,129
TOTAL ASSETS	999,549	1,014,532
Current liabilities:
Accounts payable	42,957	44,523
Income taxes	836	0
Taxes other than income taxes	18,597	18,482
Accrued compensation	22,129	23,562
Other accrued liabilities	61,257	57,828
Current portion of finance lease obligations	2,471	2,827
Current portion of operating lease obligations	16,501	16,219
Total current liabilities	164,748	163,441
Finance lease obligations	7,499	8,452
Operating lease obligations	144,394	148,977
Long-term debt	149,116	159,007
Deferred income taxes	32,295	30,905
Other long-term obligations	44,613	46,372
Shareholders’ Equity:
Preferred Stock, $1 par; authorized 1,000,000 shares; none issued	0	0
Capital in excess of par	186,141	184,002
Retained earnings	264,233	268,561
Accumulated other comprehensive loss	(18)	(12)
Stockholders' equity before treasury stock	482,710	484,905
Less cost of Common Stock in treasury (1,569,624 shares at June 30, 2026 and 1,713,780 shares at December 31, 2025)	(25,826)	(27,527)
Total shareholders’ equity	456,884	457,378
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	999,549	1,014,532
Common Stock
Shareholders’ Equity:
Common Stock	25,369	25,369
Class B Common Stock
Shareholders’ Equity:
Common Stock	$ 6,985	$ 6,985