Dave & Buster’s Entertainment, Inc. PLAY shares are climbing after the company reported its second-quarter financial results after Tuesday's closing bell. Here's a look at the details from the report.
The Details: Dave & Buster’s reported quarterly earnings of $1.12 per share, which beat the analyst consensus estimate of 84 cents by 33.33%. Quarterly sales came in at $557.1 million, slightly below the analyst consensus estimate of $560.646 million.
Comparable store sales decreased 6.3% compared to the same period last year. Store operating income before depreciation and amortization totaled $176.5 million, or 31.7% of revenue.
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“We are pleased with the progress we are making on our strategic initiatives and on the strong financial results achieved during the quarter. During the quarter, we grew Revenue and Adjusted EBITDA, expanded our Adjusted EBITDA margins and generated strong operating cash flow which allowed us to invest in the business and return cash to shareholders,” said Chris Morris, Dave & Buster’s CEO.
“We have also continued to make significant progress toward our strategic goals. Our fully programmed remodels continue to perform well and we are excited about the remodels that have recently opened and will open throughout the remainder of Fiscal 2024 and beyond,” Morris added.
PLAY Price Action: According to Benzinga Pro, Dave & Buster's Entertainment shares are up 7.50% after-hours at $32.10 at the time of publication Tuesday.
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Photo: Courtesy of Dave & Buster’s Entertainment, Inc.
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