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Investing.com -- Marcus Corporation (NYSE:MCS) reported a wider-than-expected loss for the first quarter of fiscal 2025, sending shares down 7.8% in trading following the release. The entertainment and lodging company posted a loss of $0.54 per share, missing analyst estimates of a $0.43 per share loss.
Revenue for the quarter rose 7.4% YoY to $148.8 million, surpassing the consensus estimate of $145.56 million. The increase was partly due to four additional operating days in the quarter resulting from a change in the company’s fiscal calendar.
Despite the revenue beat, Marcus Corporation’s operating loss expanded to $20.4 million from $16.7 million in the prior year quarter. The company’s theatre division was impacted by higher film costs and increased labor expenses.
"While the first quarter box office was softer than expected, April got off to a strong start," said Gregory S. Marcus, CEO of Marcus Corporation. He noted the success of recent releases like "A Minecraft Movie" and "Sinners" in reinvigorating box office performance.
The company’s hotel division saw total revenues before cost reimbursements increase 8.9% to $52.3 million, benefiting from a stronger ski season at Grand Geneva Resort & Spa.
Marcus Corporation repurchased approximately 424,000 shares for $7.1 million during the quarter, reflecting "continued confidence in both businesses," according to Marcus.
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