- Drive Shack Inc DS reported second-quarter FY22 sales growth of 17.3% year-on-year to $86.7 million, beating the consensus of $82.58 million.
- Revenue from golf operations rose 9.4% Y/Y, and sales of food and beverages jumped 57.6% Y/Y.
- Operating expenses rose 17.7% Y/Y to $65.5 million.
- The operating loss for the quarter was $(6.4) million versus an operating income of $1.1 million a year ago.
- The company held $22.7 million in cash and equivalents as of June 30, 2022.
- It reported an Adjusted EBITDA of $4.6 million versus $7.7 million last year, a 40% Y/Y decline.
- Loss per share of $(0.12) missed the analyst consensus of $(0.10).
- Price Action: DS shares are trading lower by 6.52% at $1.51 on Tuesday.
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