Dave and Busters missed earnings expectations, but its revenue exceeded estimates. The company also raised guidance for the full year 2019.
For the third quarter, the restaurant and entertainment company reported GAAP earnings of 2 cents a share, which is below analysts’ estimates of 3 cents. The figure is also lower than the year-ago quarter’s 30 cents a share.
Revenue increased +6.1% year-over-year to $299.4 million, beating Wall Street estimates of $296 million. Store count increased +13%.
Food and beverage revenue for the quarter came in at $124 million, beating estimates of $123 million. Entertainment revenue was $174 million, exceeding estimates of $173 million.
CEO Brian Jenkins indicated that the company’s strong new store performance, progress in advancing near-term priorities, and sustainable shareholder value are some of the key strengths.
Looking ahead, Dave and Busters boosted the mid range of its full year 2019 adjusted EBITDA to $277.5 million for the year, up from a previous forecast of $277 million. The mid-point of same-store-sales guidance was re-iterated at 2.75%, but the range was tightened to between 2.5% and 3% (compared to prior forecast of 2% and 3.5%).
The Aroon Indicator for PLAY entered a downward trend on September 05, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 167 similar instances where the Aroon Indicator formed such a pattern. In of the 167 cases the stock moved lower. This puts the odds of a downward move at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
an operator of high volume entertainment and dining complexes
Industry MoviesEntertainment