Marcus Corp
NYSE:MCS
Marcus Corp
Marcus Corp. engages in the lodging and entertainment industries. The company is headquartered in Milwaukee, Wisconsin and currently employs 7,500 full-time employees. The company operates in two business segments: movie theatres and hotels and resorts. Its theatre operations included 85 movie theatres with 1,064 screens throughout 17 states including Wisconsin, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Arkansas, Colorado, Georgia, Kentucky, Louisiana, New York, Pennsylvania, Texas and Virginia. The company also operates a family entertainment center, Funset Boulevard, which is adjacent to one of its theatres in Appleton, Wisconsin. The hotels and resorts operations include eight wholly-owned or majority-owned and operated hotels and resorts in Wisconsin, Illinois, Nebraska and Oklahoma. The company also manages 11 hotels, resorts and other properties for third parties in Wisconsin, California, Minnesota, Nevada, Nebraska, Illinois, Iowa, Pennsylvania and Texas. The company owns and manages approximately 5,400 hotel and resort rooms.
Marcus Corp. engages in the lodging and entertainment industries. The company is headquartered in Milwaukee, Wisconsin and currently employs 7,500 full-time employees. The company operates in two business segments: movie theatres and hotels and resorts. Its theatre operations included 85 movie theatres with 1,064 screens throughout 17 states including Wisconsin, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Arkansas, Colorado, Georgia, Kentucky, Louisiana, New York, Pennsylvania, Texas and Virginia. The company also operates a family entertainment center, Funset Boulevard, which is adjacent to one of its theatres in Appleton, Wisconsin. The hotels and resorts operations include eight wholly-owned or majority-owned and operated hotels and resorts in Wisconsin, Illinois, Nebraska and Oklahoma. The company also manages 11 hotels, resorts and other properties for third parties in Wisconsin, California, Minnesota, Nevada, Nebraska, Illinois, Iowa, Pennsylvania and Texas. The company owns and manages approximately 5,400 hotel and resort rooms.
Revenue Growth: Marcus Corporation reported consolidated revenue of $193.5 million for the fourth quarter, up 2.8% year-over-year, with both theaters and hotels contributing to growth.
Industry Outperformance: Both divisions outperformed their respective industries; theaters gained market share through strong per capita spending and a favorable film slate, and hotels posted record annual revenue and EBITDA.
Profitability: Adjusted EBITDA for the quarter was $26.8 million (up 3.6%), while operating income was $1.7 million, impacted by $5.2 million in noncash impairment charges.
Capital Allocation: Capital expenditures will decrease significantly in 2026, expected between $50–55 million, which should boost free cash flow and allow more capital return to shareholders through dividends and buybacks.
Share Repurchases: Over the past two years, Marcus returned more than $45 million to shareholders, including $18 million in buybacks in 2025 alone.
Positive 2026 Outlook: Management expressed optimism for 2026, citing a strong movie release slate and continued momentum in hotels, with group bookings for 2026 running about 3% ahead of last year.
