Marcus Corporation (NYSE: MCS) saw its stock plummet 5.32% in the pre-market trading session on Thursday, following the company's release of its fourth quarter and full-year fiscal 2024 results. The disappointing financial performance and cautious outlook appear to be the key factors driving the stock's decline.
According to the
The company's theatre division, Marcus Theatres, was a major contributor to the lackluster performance. Despite benefiting from a stronger film slate in the second half of fiscal 2024, the division's revenue for the full year declined to $447.7 million from $458.4 million in fiscal 2023. Operating income for the division also dropped to $22.1 million from $36.2 million in the prior year, partly due to impairment charges of $6.8 million.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.