Stock Monitor: Marcus Corp. Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 26, 2018 / Active-Investors.com has just released a free earnings report on The Madison Square Garden Co. (NYSE: MSG) ("MSG"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MSG. The Company reported its second quarter fiscal 2018 operating and financial results on February 02, 2018. The sports team and entertainment Company surpassed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for The Marcus Corporation (NYSE: MCS), which also belongs to the Services sector as the Company Madison Square Garden. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=MCS

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The Madison Square Garden most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=MSG

Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, MSG generated revenues of $536.30 million, reflecting an increase of 20% compared to $445.15 million in Q2 FY17. The Company's revenue numbers beat analysts' estimates of $523.0 million.

During Q2 FY18, MSG recorded an operating income of $72.44 million, up 24% compared to $58.25 million in Q2 FY17. The Company's adjusted operating income surged 23% to $118.0 million on a y-o-y basis for the reported quarter.

For Q2 FY18, MSG reported a net income attributable to common shareholders of $189.61 million, or $7.96 per diluted share, compared to $57.73 million, or $2.39 per diluted share, in Q2 FY17. As a result of the recently enacted Federal Tax Reform Legislation, effective January 01, 2018, which reduced the Company's federal tax rate to 21% from 35%, and provides that future net operating losses have an indefinite carry-forward period, MSG's reported quarter net income included a non-cash income tax benefit of $113.5 million to reduce its net deferred tax liabilities. MSG's earnings beat Wall Street's estimates of $2.11 per share.

Segment Results

During Q2 FY18, MSG's Entertainment segment's revenues soared 41% to $271.22 million compared to $192.49 million in Q2 FY17, primarily driven by the inclusion of operating results for TAO Group, higher overall event-related revenues at the Company's venues, and an increase in revenues for the Christmas Spectacular Starring the Radio City Rockettes production.

The Entertainment segment recorded an operating income of $74.53 million for Q2 FY18, up 31% compared to $56.98 million in Q2 FY17. The segment's adjusted operating income advanced 29% to $81.9 million on a y-o-y basis. The growth in operating income and adjusted operating income primarily reflected higher revenues, and partially offset by an increase in direct operating expenses and higher selling, general, and administrative expenses (SG&A).

During Q2 FY18, MSG's Sports segment's revenues increased 5% to $265.09 million compared to $252.67 million in Q2 FY17. The increase in revenues was primarily due to higher sponsorship and signage revenues; professional sports teams' pre/regular season ticket-related revenues; food, beverage, and merchandise sales; as well as higher local media rights fees from MSG Networks Inc., suite rental fees, and league distributions.

For Q2 FY18, the Sports segment's operating income increased 23% to $49.32 million from $40.21 million, while adjusted operating income climbed 17% to $55.1 million on a y-o-y basis. The increases primarily reflect higher revenues, partially offset by an increase in direct operating expenses and SG&A.

Other Items

During Q2 FY18, MSG purchased a nearly 5-acre site in London, zoned for commercial and leisure use and adjacent to the Westfield Stratford City shopping center, for $79.5 million (£60.0 million).

Cash Matters

For the six months ended December 31, 2017, MSG's net cash provided by operating activities totaled $63.27 million compared to $109.93 million for the year ago same period. As on December 31, 2017, MSG had cash and cash equivalents worth $1.13 billion compared to $1.24 billion as on June 30, 2017.

Stock Performance Snapshot

February 23, 2018 - At Friday's closing bell, The Madison Square Garden's stock advanced 1.05%, ending the trading session at $231.97.

Volume traded for the day: 230.45 thousand shares, which was above the 3-month average volume of 205.47 thousand shares.

Stock performance in the last month ? up 8.36%; previous three-month period ? up 7.94%; past twelve-month period ? up 29.32%; and year-to-date ? up 10.02%

After last Friday's close, The Madison Square Garden's market cap was at $5.41 billion.

The stock is part of the Services sector, categorized under the Entertainment - Diversified industry. This sector was up 1.4% at the end of the session.

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