Marcus Corporation Q2 revenue beats estimates on strong leisure demand
MCS•What drove the quarter
- Film slate and attendance - The company said its theatres division saw the highest admission revenue growth among top circuits, driven by a diverse slate of high-quality films and increased attendance.
- Leisure demand and RevPAR - The hotels division posted record Q2 revenue and operating income, helped by strong leisure demand, higher occupancy and room rates, and a fully operational Hilton Milwaukee.
- Golf course opening - A new short-course golf course at Grand Geneva Resort contributed to golf revenue growth in Q2.
Key figures and analyst view
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $231.70 mln | $218.01 mln (5 Analysts) |
| Q2 EPS | $0.51 | ||
| Q2 Net Earnings | $15.80 mln | ||
| Q2 Adjusted EBITDA | Beat | $46.20 mln | $37.08 mln (5 Analysts) |
| Q2 Operating Income | $27.10 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell". Wall Street's median 12-month price target for Marcus Corp is $25.00, about 0.2% above its July 29 closing price of $24.96.
The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 28 three months ago.
