The Marcus Corporation (NYSE: MCS) today reported results for the second quarter fiscal 2026 ended June 30, 2026.

“Our second quarter fiscal 2026 results reflected strong contributions from both divisions, with Marcus Theatres and Marcus Hotels & Resorts each significantly outperforming their respective industries,” said Gregory S. Marcus, chief executive officer of Marcus Corporation. “Marcus Theatres delivered the highest admission revenue growth among the top theatre circuits during the second quarter of fiscal 2026, powered by a diverse slate of high-quality films that performed well in our markets, including a favorable mix of family friendly movies. In our hotels and resorts division, healthy leisure demand drove both occupancy and rate growth that propelled performance and set a record second quarter revenue and Adjusted EBITDA for Marcus Hotels & Resorts. Each division has a lot to look forward to as we head into the second half of the year. In Marcus Theatres, the film slate for the third and fourth quarters of fiscal 2026 is impressive, starting with the recent epic opening of ‘The Odyssey’ and this weekend’s eagerly awaited release of ‘Spider-Man: Brand New Day,’ followed by many great titles through the end of the year, including the highly anticipated ‘Avengers: Doomsday’ and ‘Dune: Part Three.’ In Marcus Hotels & Resorts, leisure travelers and groups continue to prioritize travel and events, which bodes well for our primarily upper-upscale and luxury hotels and resorts across the nation.”

Second Quarter Fiscal 2026 Highlights

• Total revenues for the second quarter of fiscal 2026 were $231.7 million, a 12.5% increase from total revenues of $206.0 million for the second quarter of fiscal 2025.
• Operating income was $27.1 million for the second quarter of fiscal 2026, a 108.1% improvement from operating income of $13.0 million for the second quarter of fiscal 2025.
• Net earnings was $15.8 million for the second quarter of fiscal 2026, a 116.4% increase compared to net earnings of $7.3 million for the second quarter of fiscal 2025.
• Net earnings per diluted common share was $0.51 for the second quarter of fiscal 2026, a 121.7% increase compared to net earnings per diluted common share of $0.23 for the second quarter of fiscal 2025.
• Adjusted EBITDA was $46.2 million for the second quarter of fiscal 2026, a 43.0% increase from Adjusted EBITDA of $32.3 million for the second quarter of fiscal 2025.

First Half Fiscal 2026 Highlights

• Total revenues for the first half of fiscal 2026 were $386.1 million, an 8.8% increase from total revenues of $354.8 million for the first half of fiscal 2025.
• Operating income was $7.8 million for the first half of fiscal 2026, an improvement from operating loss of $7.4 million for the first half of fiscal 2025.
• Net earnings was $0.5 million for the first half of fiscal 2026, compared to net loss of $9.5 million for the first half of fiscal 2025.
• Net earnings per diluted common share was $0.02 for the first half of fiscal 2026, compared to net loss per diluted common share of $0.31 for the first half of fiscal 2025.
• Adjusted EBITDA was $48.8 million for the first half of fiscal 2026, a 52.3% increase from Adjusted EBITDA of $32.0 million for the first half of fiscal 2025.

The significant increases in operating results for the first half of 2026 were despite the first half of fiscal 2026 being comprised of five fewer operating days than the first half of fiscal 2025 due to the transition in the Company’s fiscal year in the first quarter of 2025. See Fiscal Year Change section below for further discussion. First half year-over-year comparisons herein are on an as-reported basis and include the impact of five fewer operating days in the first half of fiscal 2026, unless otherwise noted.

Marcus Theatres
Total Theatre revenues were $150.6 million for the second quarter of fiscal 2026, a 14.4% increase over the second quarter of fiscal 2025. Division operating income was $26.7 million for the second quarter of fiscal 2026, an $11.0 million, or 69.8%, improvement compared to the second quarter of fiscal 2025. Adjusted EBITDA was $36.3 million for the second quarter of fiscal 2026, a 36.8% increase over the second quarter of fiscal 2025.

Same store admission revenues for the second quarter of fiscal 2026 increased 16.6% compared to the prior year quarter, which outperformed the industry by 5.1 percentage points, according to data received from Comscore.

Same store attendance increased 10.9% in the second quarter of fiscal 2026 compared to the second quarter of fiscal 2025. Average ticket prices increased 5.2% compared to the prior year quarter. Average concession revenues per person increased 2.4% during the second quarter of fiscal 2026 compared to the prior year quarter, resulting from increased movie-themed merchandise sales, price optimization, and an increase in average transactions per customer.

“It is a great time to be a moviegoer, with a steady slate of compelling films bringing audiences of all ages together at the movies,” said Jeffry F. Tomachek, president of Marcus Theatres. “Building on the momentum from the first quarter, the second quarter of fiscal 2026 featured record-breaking performances from ‘The Super Mario Galaxy Movie’ and ‘Michael,’ high-interest sequels like ‘The Devil Wears Prada 2,’ surprise hits ‘Obsession’ and ‘Backrooms,’ and the debut of ‘Toy Story 5,’ which delivered the highest total revenue for a June opening weekend in Marcus Theatres history. The third quarter of fiscal 2026 is off to a similarly strong start, led by the massive success of ‘The Odyssey;’ strong pre-sales for ‘Spider-Man: Brand New Day;’ continued carry-over excitement for ‘Toy Story 5;’ and additional family-friendly films such as ‘Minions & Monsters’ and ‘Moana.’ With many more highly anticipated films expected through the end of the year, 2026 is shaping up to be a memorable year for moviegoing.”

During the second quarter of fiscal 2026, Marcus Theatres’ top five highest-performing films were The Super Mario Galaxy Movie, Michael, Toy Story 5, Obsession and Backrooms. Films performing well so far in the third quarter of fiscal 2026 include The Odyssey, Minions & Monsters, and Moana with an exciting film slate scheduled for the remainder of the year, including “Spider-Man: Brand New Day,” “Super Troopers 3,” “Paw Patrol: The Dino Movie,” “Insidious: Out of the Further,” “Practical Magic 2,” “Resident Evil,” “Forgotten Island,” “Digger,” “Verity,” “Other Mommy,” “The Social Reckoning,” “Street Fighter,” “The Cat in the Hat,” “Godzilla Minus Zero,” “Hunger Games: Sunrise on the Reaping,” “Hexed,” “Focker-In-Law,” “Dune: Part Three,” “Avengers: Doomsday,” “The Angry Birds Movie 3” and “Jumanji: Open World.”

Marcus Hotels & Resorts
During the second quarter of fiscal 2026, Marcus Hotels & Resorts reported total revenues before cost reimbursements of $70.8 million, a 9.6% increase over the prior year quarter and a record for any second quarter. Operating income was $6.7 million during the second quarter of fiscal 2026, a 59.8% increase over the second quarter of fiscal 2025. Adjusted EBITDA was $14.7 million, a 31.1% increase compared to the prior year quarter and a record for any second quarter.

Revenue per available room, or RevPAR, increased 13.9% at company-owned hotels during the second quarter of fiscal 2026 compared to the second quarter of fiscal 2025. During the second quarter of fiscal 2026, Marcus Hotels & Resorts outperformed the industry by 8.2 percentage points and outperformed its competitive sets by 6.1 percentage points. This outperformance was partially driven by the favorable impact of the Hilton Milwaukee being fully operational during the second quarter of fiscal 2026 compared to the second quarter of fiscal 2025 when the hotel was undergoing renovations. Excluding the estimated impact of the Hilton Milwaukee renovation on the prior year period, the division outperformed its competitive sets by 1.1 percentage points during the second quarter of fiscal 2026.

“Congratulations to our associates for delivering a record second quarter and outperforming both the industry and our competitive sets,” said Michael R. Evans, president of Marcus Hotels & Resorts. “Strong leisure demand positively contributed to room rate and RevPAR growth during the quarter, with group pace running ahead of the same period last year. Our strategic focus on investing in our high-quality assets, combined with our commitment to operational excellence and passion for extraordinary guest experiences, drives our performance and positions us well as we head into the remainder of the year.”

Grand Geneva Resort & Spa in Lake Geneva, Wisconsin opened its new short-course golf course, Wee Nip, earlier this May with positive reviews from golfers and golf critics alike. The new 11-hole course, along with the resort’s two championship courses, positively influenced golf revenue growth during the second quarter of fiscal 2026.

Fiscal Year Change
The first half of fiscal 2026 was comprised of five fewer operating days than the first half of fiscal 2025 due to the transition in the Company’s fiscal year in the prior year first quarter. During fiscal 2025 the Company’s fiscal year changed from a 52-53 week fiscal year ending on the last Thursday of each year to a fiscal year ending on December 31 of each year, with quarterly results for three-month periods ending March 31, June 30, September 30 and December 31. The first half of fiscal 2025 consisted of the six month period beginning December 27, 2024 and ended on June 30, 2025 (comprised of five operating days between December 27-31, 2024, plus 181 operating days in the calendar first half of 2025).

About Marcus Theatres
Marcus Theatres, a division of Marcus Corporation, is the fourth-largest theatre circuit in the United States and currently owns or operates 975 screens at 77 locations in 17 states under the Marcus Theatres, Movie Tavern by Marcus and BistroPlex brands. For more information, please visit www.marcustheatres.com and follow the company on Facebook, Instagram, and TikTok.

About Marcus Corporation
Headquartered in Milwaukee, Marcus Corporation is a leader in the entertainment and hospitality industries, with significant company-owned real estate assets. In addition to its Marcus Theatres division, its hospitality division, Marcus Hotels & Resorts, owns and/or manages 17 hotels, resorts and other properties in eight states. For more information, please visit the company’s website at www.marcuscorp.com.