Marcus Corporation (NYSE: MCS) reported Q4 EPS of $0.41, $0.06 better than the analyst estimate of $0.35. Revenue for the quarter came in at $175.03 million versus the consensus estimate of $168.67 million.

• Total revenues for the fourth quarter of fiscal 2018 were a record $175,032,000, a 5.7% increase from total revenues of $165,581,000 for the fourth quarter of fiscal 2017.
• Operating income was $14,653,000 for the fourth quarter of fiscal 2018, a 17.8% decrease from operating income of $17,822,000 for the prior year quarter.
• Net earnings attributable to The Marcus Corporation were $8,720,000 for the fourth quarter of fiscal 2018, compared to net earnings attributable to The Marcus Corporation of $34,441,000 for the same period in fiscal 2017.
• Net earnings per diluted common share attributable to The Marcus Corporation were $0.30 for the fourth quarter of fiscal 2018, compared to net earnings per diluted common share attributable to The Marcus Corporation of $1.21 for the fourth quarter of fiscal 2017.
• Adjusted net earnings attributable to The Marcus Corporation were $11,848,000 for the fourth quarter of fiscal 2018, a 15.4% increase from Adjusted net earnings attributable to The Marcus Corporation of $10,271,000 for the fourth quarter of fiscal 2017.
• Adjusted net earnings per diluted common share attributable to The Marcus Corporation were $0.41 for the fourth quarter of fiscal 2018, a 13.9% increase from Adjusted net earnings per diluted common share attributable to The Marcus Corporation of $0.36 for the prior year quarter.
• Adjusted EBITDA was $36,035,000, a 10.7% increase from Adjusted EBITDA of $32,541,000 for the comparable prior period.
• Adjusted net earnings attributable to The Marcus Corporation, Adjusted net earnings per diluted common share attributable to The Marcus Corporation and Adjusted EBITDA reflect adjustments made by the company to eliminate the favorable impact of certain nonrecurring reductions in deferred income taxes in the fourth quarter of fiscal 2018 and 2017, to eliminate the negative impact of certain nonrecurring acquisition and preopening expenses related to the Movie Tavern acquisition, as well as certain nonrecurring preopening expenses and accelerated depreciation expense related to the project currently underway to convert the former InterContinental Milwaukee hotel into Saint Kate – The Arts Hotel, in the fourth quarter of fiscal 2018, and to eliminate the favorable impact of a significant one-time gain related to the sale of an unconsolidated joint venture interest in the fourth quarter of fiscal 2017.

“As highlighted by our record revenues and operating income, fiscal 2018 was another great year for The Marcus Corporation. Both divisions contributed to the improved performance, with Marcus Theatres achieving record revenues and operating income for both the fourth quarter and full year and Marcus Hotels & Resorts delivering record revenues during both periods as well,” said Gregory S. Marcus, president and chief executive officer of The Marcus Corporation.

The company’s fiscal 2018 results were impacted by nonrecurring acquisition and preopening expenses in the theatre division and nonrecurring preopening expenses and accelerated depreciation expense in the hotel division in the fourth quarter. “If not for these one-time expenses, we would have achieved both record revenues and operating income for the fourth quarter and our hotel division would have reported a sizeable increase in fourth-quarter operating income,” said Marcus.

For earnings history and earnings-related data on Marcus Corporation (MCS) click here.