Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) topline grows 24%

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) stock rose 4.99% (As on June 8, 12:35:02 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 22. Total comparable sales increased 10.9% compared with the same period in 2019. Walk-in comparable store sales increased 14.7% while Special Event comparable store sales declined 34.6% compared with the same period in 2019. Non-comparable store revenue totaled $89.2 million compared with $58.5 million in the first quarter of 2021 and $33.9 million in the first quarter of 2019. Net income totaled a record $67.0 million, compared with net income of $19.6 million, in the first quarter of 2021 and net income of $42.4 million, in the first quarter of 2019. Adjusted EBITDA increased 45.9% from the first quarter of 2019 to a record $143.2 million or 31.8% of revenue, compared with Adjusted EBITDA of $76.7 million in the first quarter of 2021 (28.9% of revenue) and Adjusted EBITDA of $98.2 million, or 27.0% of revenue in the first quarter of 2019. The company ended the quarter with $139.1 million in cash, approximately $492.5 million of liquidity available under the Company’s $500 million revolving credit facility, net of $7.5 million in letters of credit, and a net debt leverage ratio of 0.7x

PLAY in the first quarter of FY 22 has reported the adjusted earnings per share of $1.35, beating the analysts’ estimates for the adjusted earnings per share of $1.16, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 24.1 percent to $451.1 million in the first quarter of FY 22, beating the analysts’ estimates for revenue of $440.9 million. Store operating income before depreciation and amortization totaled $163.3 million, or 36.2% of revenue, compared with store operating income before depreciation and amortization of $90.8 million, or 34.2% of revenue in the first quarter of 2021 and store operating income before depreciation and amortization of $112.7 million, or 31.0% of revenue in the first quarter of 2019. Operating income totaled a record $98.7 million, or 21.9% of revenue, compared with operating income of $37.0 million, or 14.0% of revenue in the first quarter of 2021 and operating income $57.7 million, or 15.9% of revenue in the first quarter of 2019.

Meanwhile, the company is adding Main Event to the Dave & Buster’s team. The company expects to close the transaction in a few weeks.

Copyright © 2022. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.