Dave & Buster’s reports Q3 EPS (12c), consensus (12c)

Reports Q3 revenue $ $466.9, consensus $472.25M. Pro forma combined comparable store sales including Main Event branded stores decreased 7.8% compared with the third quarter of 2022 and increased 8.1% compared with the third quarter of 2019. “During the quarter, we continued to make significant progress against our key growth initiatives. On the organic growth front, we have seen meaningful success in the tests we have implemented in our marketing, food and beverage, pricing, special events and remodel initiatives which we look forward to rolling out across the broader portfolio over the coming weeks and months and which we expect will lead to substantial improvement in revenue and profitability. We also continued to open new stores at highly attractive returns on our investment and have continued to opportunistically return capital to shareholders in a highly accretive manner,” said Chris Morris, Dave & Buster’s Chief Executive Officer. “I am proud of our dedicated team’s ability to continue to deliver strong operating performance and generate significant free cash flow in the face of a complex macroeconomic backdrop and difficult prior year comparisons driven by robust post-COVID demand. We remain as confident as ever in the $1 billion AEBITDA target we indicated during investor day and remain laser focused on delivering that result in the coming years.”