Dave & Buster’s Entertainment Inc PLAY shares are up 5 percent after reporting a fourth-quarter earnings beat.
The company reported earnings of 75 cents per share, beating estimates by 12 cents. Sales came in at $331.8 million, beating estimates by $2.51 million. The company also added $200 million to its buyback plan.
Dave and Buster’s sees 2019 sales of $1.37 billion-$1.4 billion.
"We are pleased to finish the year on a strong note. On a comparable week basis, we drove double-digit revenue growth in Q4 as comparable store sales increased 2.9% and new store performance remained strong. 2018 was another year of record sales and EBITDA, and looking ahead to 2019, we are well positioned to deliver new revenue and EBITDA highs, and reinforce our leadership position in the combined entertainment and dining space," said CEO Brian Jenkins.
Highlights
- Comp store sales increased 2.9 percent
- Total revenues increased 8.8 percent
- Opened three new stores
- Launched Dragonfrost, the company’s proprietary VR title
- 1.3 million shares repurchased
Dave & Buster’s shares are up 4.8 percent at $52.91 in the after-hours session The stock closed Tuesday at $50.48 per share.
Related Links:
Dave & Buster's Challenges Persist, But Jefferies Says Its Valuation Can't Be Ignored
Analysts Rave About Dave & Buster's Amid Q1 Earnings, 'Jurassic World' VR Launch
Photo credit: Mike Mozart, Flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.