Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) Q3 2024 Earnings Conference Call December 10, 2024 5:00 PM ET Company Participants Cory Hatton - VP of IR and Treasurer Kevin Sheehan - Chair of the Board and Interim CEO Darin Harper - CFO Conference Call Participants Jake Bartlett - Truist Securities Andy Barish - Jefferies Sharon Zackfia - William Blair Andrew Strelzik - BMO Dennis Geiger - UBS Todd Brooks - The Benchmark Company Brian Vaccaro - Raymond James Operator Good afternoon, and welcome to the Da ...

For the quarter ended October 2024, Dave & Buster's (PLAY) reported revenue of $453 million, down 3% over the same period last year. EPS came in at -$0.45, compared to $0.01 in the year-ago quarter.The reported revenue represents a surprise of -1.50% over the Zacks Consensus Estimate of $459.9 million. With the consensus EPS estimate being -$0.42, the EPS surprise was -7.14%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock $0.01 par value PLAY NASDAQ Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED November 5, 2024 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Comm ...

Financial Performance - Third quarter revenue was $453.0 million, a decrease of 3.0% from $466.9 million in the third quarter of fiscal 2023[5][10] - Comparable store sales decreased by 7.7% compared to the same period in fiscal 2023[5][11] - Net loss totaled $32.7 million, or $(0.84) per diluted share, compared to a net loss of $5.2 million, or $(0.12) per diluted share in the third quarter of fiscal 2023[6][11] - Adjusted EBITDA was $68.3 million, a decrease of 16.3% from $81.6 million in the third quarter of fiscal 2023[6][11] - Operating loss was $6.3 million, or 1.4% of revenue, compared to operating income of $18.6 million, or 4.0% of revenue in the third quarter of fiscal 2023[11] - Net income (loss) for the three months ended November 5, 2024, was $(32.7) million, compared to a loss of $(5.2) million in the prior year, indicating a significant decline in profitability[22] - Adjusted EBITDA for the three months ended November 5, 2024, was $68.3 million, representing 15.1% of total revenues, compared to $81.6 million and 17.5% in the same period last year[30] - Total revenues for the nine months ended November 5, 2024, were $1,598.2 million, a slight decrease from $1,606.3 million in the prior year[22] - Operating income for the three months ended November 5, 2024, was $6.3 million, down from $18.6 million in the same period last year, reflecting a decrease in operating margin from 4.0% to 1.4%[22] Debt and Financing - The Company raised a new $700.0 million term loan due in 2031 and extended the maturity of its revolving credit facility to 2029[7] - Long-term debt increased to $1,444.8 million as of November 5, 2024, compared to $1,284.0 million as of February 4, 2024[26] - The total debt as of November 5, 2024, was $1,451.8 million, with net debt calculated at $1,454.8 million[36] - The company incurred $20.1 million in losses on debt refinancing during the trailing four quarters[36] Cash Flow and Assets - The Company ended the quarter with $8.6 million in cash and $537.4 million available under its revolving credit facility[12] - Total current assets decreased to $112.0 million as of November 5, 2024, from $137.5 million as of February 4, 2024[26] - Net cash provided by operating activities for the three months ended November 5, 2024, was $(7.2) million, a significant decline from $70.8 million in the same period last year[27] Store Operations and Expansion - The Company opened three new stores during the quarter, including two Dave & Buster's and one Main Event store[7] - Store Operating Income Before Depreciation and Amortization for the three months ended November 5, 2024, was $92.6 million, representing a 20.4% increase compared to the same period last year[34] - Store Operating Income Before Depreciation and Amortization for the nine months ended November 5, 2024, was $471.7 million, reflecting a 29.4% increase year-over-year[34] - The company plans to continue focusing on market expansion and new product development to drive future growth[30] Shareholder Actions - The Company repurchased $28.0 million of shares in the third quarter, totaling $88.0 million year-to-date, representing 5.1% of outstanding shares[7] - The Company has $112.0 million remaining on its share repurchase authorization[12] Expenses - General and administrative expenses for the nine months ended November 5, 2024, totaled $89.1 million, slightly down from $92.0 million in the same period last year[34] - Depreciation and amortization expense for the nine months ended November 5, 2024, was $174.2 million, up from $149.9 million in the same period last year[34] - Pre-opening costs for the three months ended November 5, 2024, were $5.2 million, compared to $4.0 million in the same period last year[34] Revenue Breakdown - Entertainment revenues for the three months ended November 5, 2024, were $294.6 million, representing a 65.0% share of total revenues, compared to $302.0 million and 64.7% for the same period in 2023[22] - The company experienced a year-over-year revenue decline of $13.9 million, attributed to factors such as an unfavorable calendar shift and changes in deferred entertainment revenues[32] Adjusted Metrics - Adjusted Net Income for the nine months ended November 5, 2024, was $49.0 million, translating to an Adjusted Net Income per diluted share of $1.21[38] - Credit Adjusted EBITDA for the trailing four quarters ended November 5, 2024, was $549.0 million, with a net total leverage ratio of 2.6x[36]

Wall Street expects a year-over-year decline in earnings on lower revenues when Dave & Buster's (PLAY) reports results for the quarter ended October 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on December 10, 2024, might help the stock move higher if these key numbers are better tha ...

A month has gone by since the last earnings report for Dave & Buster's (PLAY) . Shares have added about 2.2% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Dave & Buster's due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Dave & Buster's Q2 Earnings Beat, Revenues ...

Dave & Buster's Entertainment, Inc. (PLAY) reported mixed second-quarter fiscal 2024 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top and the bottom line increased on a year-over-year basis. During the quarter, the company reported strong performance from the remodeled locations. Also, it recorded a positive reception of the new menu, which is driving improvements in food and beverage performance and guest satisfaction. Pricing tests for games and food and b ...

Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) Q2 2024 Earnings Conference Call September 10, 2024 5:00 PM ET Company Participants Cory Hatton - Vice President, Investor Relations and Treasurer Chris Morris - Chief Executive Officer Darin Harper - Chief Financial Officer Conference Call Participants Jake Bartlett - Truist Securities Jeff Farmer - Gordon Haskett Andy Barish - Jefferies Jared Hludzinski - BMO Capital Markets Brian Vaccaro - Raymond James Operator Good day and welcome to the Dave & Buster's ...

Dave & Buster's (PLAY) reported $557.1 million in revenue for the quarter ended July 2024, representing a year-over-year increase of 2.8%. EPS of $1.12 for the same period compares to $0.94 a year ago. The reported revenue represents a surprise of -0.89% over the Zacks Consensus Estimate of $562.08 million. With the consensus EPS estimate being $0.87, the EPS surprise was +28.74%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to det ...

Dave & Buster's (PLAY) came out with quarterly earnings of $1.12 per share, beating the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 28.74%. A quarter ago, it was expected that this owner of Dave & Buster's, a chain of restaurants and arcades would post earnings of $1.56 per share when it actually produced earnings of $1.12, delivering a surpri ...