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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
The Marcus
The Marcus (MCS) investor relations material
The Marcus Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor presentation summary3 Nov, 2026
Business profile and assets
Founded in 1935; operates the fourth-largest U.S. theatre exhibitor and an 18-property hotel portfolio; LTM revenue $817.4M, adjusted EBITDA $124.7M and margin 16.1%; market cap ~$829.5M as of Nov. 2, 2026.
Theatres contributed 37% of LTM revenue, 79% of operating income and 69% of adjusted EBITDA; hotels contributed 63%, 21% and 31%, respectively.
Theatre footprint: 975 screens across 77 locations in 17 states; hotel platform: 18 managed properties, 4,800+ rooms, 40+ food and beverage outlets and 400,000+ sq. ft. of meeting and event space.
Owns 62% of movie theatres and eight hotels; real estate ownership reduces fixed lease payments, supports credit and creates potential monetization opportunities.
Invested $581M in assets over the past decade through fiscal 2025, including $340M in theatres and $241M in hotels and resorts.
Recent performance
Q3 2026 delivered record revenue and operating income; theatres outperformed the industry by 1.3 percentage points YTD Q3 2026.
Theatres’ 9M 2026 revenue was $386.0M, operating income $46.0M and adjusted EBITDA $76.7M; respective YoY changes were +14.7%, +111.6% and +46.5%.
Same-store theatre admission revenue rose 16.7% YTD Q3 2026, or 21.3% on a comparable-calendar basis; average ticket price rose 5.6% and concession revenue per person 2.9% YoY.
Hotels’ 9M 2026 revenue was $204.4M, operating income $14.1M and adjusted EBITDA $37.0M; respective YoY changes were +3.7%, -2.7% and +4.6%.
Comparable owned-hotel RevPAR grew 9.3% YTD Q3 2026; performance exceeded the industry by 3.5 percentage points and competitive sets by 8.1 points.
Theatre strategy and demand
Theatre investments include recliner seating in 87% of owned theatres and 89% of screens; 126 premium large-format screens, with PLF available in 84% of owned theatres.
Expanded food and beverage is available in 70% of theatres; 96% offer beer and wine or canned alcoholic beverages, and 63% offer full liquor through bars and lounges.
77% of Americans aged 12–74 saw at least one theatre movie in 2025; habitual moviegoers grew 8%, averaging 6.1 annual visits.
Growth priorities include loyalty insights, pricing, lobby and digital monetization, theatre upgrades, frictionless purchasing, new viewing formats and acquisitions, new builds or management contracts.
A broad slate of franchise films is highlighted for the remainder of 2026 and 2027, with the slate subject to change.
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Latest events from The Marcus
- FY2023 rebounded across theatres and hotels, while film supply clouds the FY2024 theatre outlook.MCS
Q4 2023 - FY22 recovery lifted EBITDA, but film supply and business travel remain constraints.MCSQ4 2022
- Recovery lifted FY2021 Adjusted EBITDA to $35.1M, but the net loss remained $43.3M.MCSQ4 2021
- Pandemic closures drove a $124.8M loss, with recovery hinging on reopening and demand.MCSQ4 2020
- Record revenue, lower earnings, and COVID-19 closures reshaped the outlook.MCSQ4 2019
- Record revenue and operating income; Movie Tavern expands the footprint as FY2019 investment rises.MCSQ4 2018
- Record earnings and theatre outperformance powered growth amid acquisition-led expansion.MCSQ4 2016
- Record FY2017 results, boosted by theatre growth and a one-time tax benefit.MCSQ4 2017
- Record revenue and segment growth; adjusted earnings rose nearly 12%.MCSQ4 2015
- F2014 earnings rose on stronger theatres and hotels, with elevated investment and market risks ahead.MCSQ4 2014
Next The Marcus earnings date
Q4 202625 Feb, 2027
The Marcus
Next The Marcus earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
The Marcus Corporation operates in the entertainment and hospitality industries. The company owns and manages movie theaters and hotels, with its theater segment offering premium cinema experiences through its Marcus Theatres and Movie Tavern brands. Its hotel segment includes owned and managed properties, catering to leisure and business travelers. Marcus focuses on providing high-quality entertainment and lodging services in markets across the United States. The company is headquartered in Milwaukee, Wisconsin, and its shares are listed on the NYSE.