The market expects Bowlero Corp. (BOWL) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

In this articleBOWLThe Bowlero location at Chelsea Piers in New York City.CNBCA former executive at Bowlero, the world's largest owner and operator of bowling centers, has asked a court's permission to countersue his former employer for extortion and retaliation, after an executive on a recorded call threatened to report him to the FBI if he didn't admit to spilling company secrets, according to a transcript of the conversation filed in court.The allegations by Bowlero's former chief information officer, Th ...

Bowlero Corp. (BOWL) reported second-quarter fiscal 2024 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. The top line increased year over year, but the bottom line declined from the prior-year quarter's figure.During the fiscal second quarter, the company reported benefits from the Lucky Strike acquisition and robust event business performance. It reported positive same-store revenue backed by adjustments in promotions and pricing dynamics. During the quarter, acqu ...

Financial Data and Key Metrics Changes - The company reported total revenue of $304 million for Q2 2024, a 13.4% increase from $268.1 million in the previous year, with adjusted EBITDA rising to $103.1 million from $97 million [39][52][70] - Same-store sales comp turned positive at 0.2%, indicating a slight improvement in performance compared to previous periods [70] - The company announced a quarterly dividend of $0.055, with an expected annual rate of $0.22, and increased share repurchase authorization to $200 million [41][54] Business Line Data and Key Metrics Changes - The Lucky Strike brand outperformed expectations, contributing over $6 million to EBITDA in the quarter, compared to $4 million in the previous year [52][66] - Event revenue increased by 30% year-over-year, driven by strong corporate demand and holiday celebrations [67] - The amusements business generated $100 million in revenue, showing significant growth from previous years [37] Market Data and Key Metrics Changes - The company expanded its center count from 327 to 350 within the year, with plans for at least five new builds annually in the coming years [35][39] - Average revenue per unit increased by 6% year-over-year, with unit count rising by 8% [67] - The company is experiencing strong demand for corporate events and birthday parties, benefiting from a trade-down effect in the current economic environment [27][67] Company Strategy and Development Direction - The company is focusing on dynamic pricing strategies to optimize revenue across different times and products, aiming to fill centers at the highest price during weekends and at reasonable prices during weekdays [58][90] - There is a significant emphasis on enhancing the Lucky Strike brand and expanding its presence, with new locations planned in Moorpark and Miami [38][66] - The company is committed to investing in its workforce and improving operational efficiencies through data-driven decision-making and process standardization [83][109] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business's trajectory, highlighting a strong rebound in customer traffic and positive trends in January following a challenging start to the year [71][76] - The company anticipates continued growth in the third quarter, despite weather-related challenges in January, with expectations for total revenue to increase by around 20% in the fourth quarter [71][76] - Management acknowledged the need for ongoing adjustments to pricing and promotional strategies based on consumer response and market conditions [90][127] Other Important Information - The company is increasing its capital guidance for M&A spending from $160 million to $190 million, reflecting a focus on growth opportunities [72] - The implementation of a robust inventory management system for food and beverage is expected to enhance profitability [84] - The company is also working on a website update to facilitate dynamic pricing and improve customer engagement [84][132] Q&A Session Summary Question: How is the company managing guidance amid weather-related challenges? - Management noted that January's weather impacted revenue by approximately $7 million to $8 million, but they are comfortable with their guidance based on recent trends [76][77] Question: What initiatives will the new president focus on? - The new president aims to enhance execution across food and beverage and amusement offerings, leveraging data to improve processes and maximize profitability [78] Question: Can you elaborate on the food and beverage system being implemented? - The company is focusing on reducing variance across centers and implementing a robust inventory management system to improve margins [83][84] Question: How is the Lucky Strike brand performing relative to expectations? - The Lucky Strike brand has significantly outperformed initial expectations, with a 50% increase in profitability compared to the previous year under prior ownership [66][104] Question: What is the outlook for new unit pipeline and acquisitions? - The company is building dry powder for future acquisitions while monitoring market conditions, with a focus on capitalizing on opportunities as they arise [121]

Shares of bowling company Bowlero (BOWL 17.63%) popped on Monday, even though the market was down. The company reported strong financial results for its fiscal second quarter of 2024 and announced some shareholder-friendly moves. And that's why Bowlero stock was up almost 14% as of 11:45 a.m. ET.Bowlero is looking to give back to shareholdersBowlero's Q2 ended on Dec. 31. The company owns 350 bowling centers and also owns the Professional Bowlers Association.In Q2, Bowlero generated revenue of $306 million, ...

Bowlero Corp. (BOWL) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of $0.12. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -108.33%. A quarter ago, it was expected that this company would post a loss of $0.04 per share when it actually produced a loss of $0.10, delivering a surprise of -150%.Over the last four quarters, the company has not been able t ...

Shares of Bowlero Corp. were on a roll Monday after the bowling-center operator and owner of the Professional Bowlers Association said it would start paying a dividend to shareholders and reported fiscal second-quarter revenue that rose above expectations.The company said it will pay out a cash dividend of 5.5 cents a share on March 8 to shareholders of record on Feb. 23.Based on the stock’s BOWL, +8.21% Friday closing price of $11.60, the annual dividend rate of 22 cents a share implies a dividend yield of ...

RICHMOND, Va.--(BUSINESS WIRE)--Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), one of the world’s premier operators of location-based entertainment, today provided financial results for the second quarter of the 2024 Fiscal Year, which ended on December 31, 2023. Quarter Highlights: Revenue increased 11.8% to $305.7 million versus the prior year and increased 65.4% versus 2QFY20 (quarter ended December 29, 2019) Revenue excluding Service Fee Revenue increased 13.4% to $304.0 million versus th ...

Intangible Assets: (5) Property and Equipment Three Months Ended Six Months Ended December 31, December 31, 2023 January 1, 2023 2023 January 1, 2023 Depreciation expense $ 29,453 $ 21,925 $ 53,631 $ 42,264 (6) Leases On October 19, 2023, the Company completed a transaction with VICI Properties Inc. ("VICI") relating to the transfer of the land and real estate assets of 38 bowling entertainment centers for an aggregate value of $432,900. The transaction was structured as a tax-deferred capital contribution ...

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