Benzinga | Aug 4, 2021 03:53PM EDT

Marcus Q2 Result Tops Consensus; Expenses Soar

* Marcus Corp (NYSE:MCS) reported second-quarter FY21 sales growth of 1066% year-on-year, to $92.55 million, beating the analyst consensus of $83.53 million.

* Operating loss narrowed 50.8% Y/Y to $(26.1) million.

* Total costs and expenses soared 94.5% Y/Y to $118.7 million.

* The company held $15.1 million in cash and equivalents as of July 1, 2021.

* Adjusted loss per share was $(0.67), versus the consensus for a loss of $(0.76).

* "While it will take some time to return to pre-pandemic levels, we are encouraged by the positive momentum in both our operating businesses which contributed to positive company-wide adjusted EBITDA for the month of June," said CEO Gregory S. Marcus.

* Price action: MCS shares are trading lower by 2.75% at $15.21 on the last check Wednesday.