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Dave & Buster’s Entertainment, Inc. (NASDAQ: PLAY), which operates a chain of casual dining and leisure facilities, reported a sharp increase in fourth quarter earnings, helped by double-digit growth in profits. Comparable store sales are growing at a faster pace.
The Dallas-based company reported net income of $39.1 million or $0.80 per share for the January quarter, up from a previous profit of $25.7 million or $0.52 per share. Adjusted EBITDA was up 63% year over year to $138.4 million.
Fourth quarter revenue rose 64% year-over-year to $563.8 million, reflecting 19% growth in same-store sales. Both operating segments – Food and Beverage and Entertainment and Other – registered growth.
“Fresh from the annual general manager’s conference, our outstanding team of operators and shared service center employees are motivated and excited to achieve the goals we have set for the business in 2023 and beyond to realize our full potential. We look forward to sharing our progress with you at throughout the year as we continue to create value for our stakeholders,” said Chris Morris, executive director of Dave & Buster’s Entertainment.
Previous Performance
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