Lucky Strike (LUCK) Shares Slide 15% After Earnings Miss, Weak Outlook

Shares of Lucky Strike Entertainment Corp LUCK tumbled 15.3% to $8.02 on Thursday after the company reported disappointing third-quarter results and withheld forward guidance amid economic uncertainty.

What To Know: The entertainment operator posted earnings of 7 cents per share, missing Wall Street's 23 cent estimate and down 46% year-over-year. Revenue came in at $339.9 million, slightly up 0.7% from a year ago but still below the $357.7 million consensus.

Same-store sales fell 5.6%, and net income dropped to $13.3 million from $23.8 million. Adjusted EBITDA also declined to $117.3 million. Corporate event sales were soft, especially in tech-heavy markets like California and Seattle, though strength was seen in Boston, New Jersey and Miami.

Despite challenges, Lucky Strike highlighted promising growth from its Summer Season Pass—sales of which are up 200% year-over-year—and recent acquisitions, including a water park in Florida.

The company repurchased $47 million in shares and declared a $0.055 quarterly dividend. Management is maintaining cost discipline and has cut capital expenditures by 20% year-to-date. No forward guidance was issued.

Read Also: Zillow Q1 Earnings Beat, Q2 Guidance Below Estimates, Shares Fall

How To Buy LUCK Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Lucky Strike’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, LUCK has a 52-week high of $14.92 and a 52-week low of $7.70.