Drive Shack Stock Gains As Q4 Results Top Estimates

Drive Shack Inc DS reported fourth-quarter FY21 sales growth of 17% year-on-year, to $70.53 million, beating the consensus of $69.26 million.
Revenue from golf operations rose 4.7% Y/Y, and sales of food and beverages jumped 105% Y/Y.
Operating expenses rose 23.5% Y/Y to $57 million. The operating loss for the quarter was $(6.4) million versus a loss of $(3.6) million last year.
The company held $61.8 million in cash and equivalents as of December 31, 2021.
It reported an Adjusted EBITDA of $2.5 million, versus $5.3 million last year.
EPS loss of $(0.11) beat the analyst consensus of $(0.13).
The company's board declared dividends on the company's preferred stock for the period beginning February 1, 2022, and ending April 30, 2022.
The dividends are payable on May 2, 2022, to holders of record of preferred stock on April 1, 2022.
Price Action: DS shares are trading higher by 7.14% at $1.50 in pre-market on Friday.