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EarningsQ2 2026 Earnings Report
MCS Q2 2026 EPS Results
Actual EPS$0.51
Consensus EPS$0.35
Beat/MissBeat by +$0.16
One Year Ago EPS$0.23
MCS Q2 2026 Revenue Results
Actual Revenue$231.74M
Expected Revenue$217.72M
Beat/MissBeat by +$14.02M
YoY Revenue Growth+12.47%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MCS Upcoming Earnings
Marcus's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MCS Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted broad, material improvements across revenue, profitability, cash flow, and operating metrics in both theatres and hotels, with multiple record or post-pandemic highs and clear outperformance vs peers. Management acknowledged remaining sources of volatility (film cadence, short booking windows, travel-cost sensitivity) and conservative discipline on capital allocation and M&A. On balance the positives and momentum substantially outweigh the manageable headwinds.Company Guidance
Record Consolidated Revenue and Profitability
Consolidated revenues of $232.0M, up 12.5% year-over-year; operating income $27M (more than doubled vs $13M); consolidated adjusted EBITDA $46.2M, up 43%; net earnings $15.8M, up 116%; diluted EPS $0.51, up ~121%.
Theatre Division Outperformance
Theatre revenue $150.6M, up 14.4%; comparable admission revenue +16.6% and attendance +10.9%; U.S. box office +11.5% while Marcus admissions outperformed the industry by ~5 percentage points; theatre adjusted EBITDA $36.3M, up nearly 37%.
Pricing and Per-Person Spend Gains
Average admission price increased 5.2% and average concession (F&B + merchandise) revenue per person rose 2.4%, driven by strategic pricing and merchandise/incident rate gains.
Hotels Delivered Record Quarter
Hotels revenue before cost reimbursements $70.8M, up 9.6%; comparable owned RevPAR +13.9% driven by occupancy up 5.9 percentage points and ADR +4.7%; hotels adjusted EBITDA increased $3.5M (just over 31%) and average occupancy was 73.2%.
Hotels Outperformed Competitive Sets
Comparable competitive hotels RevPAR growth 7.8% while Marcus hotels grew 13.9% (outperforming by 6.1 percentage points); after adjusting for prior-year Hilton Milwaukee renovation, outperformance vs comp set ~1.1 ppt; vs U.S. upper upscale segment (5.7% RevPAR growth) Marcus outperformed by ~8.2 ppt (3.9 ppt adjusted).
Strong Cash Generation and Liquidity
Cash flow from operations $54M vs $31.6M prior year quarter; Q2 free cash flow $44M (nearly triple prior-year Q2); first half free cash flow $22M, a $65M improvement year-over-year; ended Q2 with ~$26M cash, >$245M total liquidity, debt-to-capitalization 25%, net leverage 1.1x.
Capital Expenditure Moderation and Guidance
Q2 capex $10M (vs $16.9M prior year Q2); first-half capex down $23M vs prior year. Company updated 2026 capex expectation to approximately $45M–$50M and expects significantly higher free cash flow due to lower capex and stronger earnings.
Operational & Product Strength
High-quality film slate (multiple breakout originals and sequels) improved cadence and mix (top 5 films accounted for 55% of box office vs 59% prior year); premium large-format (PLF) screens installed at 84% of locations (75% of those have multiples) providing scheduling flexibility and PLF capture.
Hotel Amenity Growth and Bookings Momentum
Opened Wee Nip 11-hole short golf course at Grand Geneva; golf rounds on 18-hole courses grew >11% and greens fees rose 21%. Group room revenue bookings for 2026 paced ~3% ahead of prior year and 2027 group pace ~9% ahead (early read).
MCS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed