Dave & Buster’s reports Q4 EPS $1.03, consensus $1.10

Reports Q4 revenue $599.1M, consensus $602.61M. Pro forma combined comparable store sales decreased 7%. “I am pleased with the strong progress we made during the final quarter of fiscal 2023 and the year as a whole, which is a testament to the hard work and dedication of our phenomenal team members. During the quarter we successfully opened six new domestic stores at what we expect will be highly attractive ROIs, we signed an additional agreement to open up new international units, we successfully grew Adjusted EBITDA margins, and we laid a strong foundation for future growth on each of our organic growth initiatives,” said Chris Morris, Dave & Buster’s CEO. “Fiscal 2024 is set-up to be a transformative year for our company with the anticipated opening of an additional 15 new domestic stores, the opening of up to four new international D&B units, our continued focus on cost efficiency and Adjusted EBITDA margin improvement and our continued progress on our organic revenue growth initiatives, including our remodels which have outperformed our expectations and in which we are accelerating the portfolio wide roll-out. Despite the uncertain macroeconomic backdrop, everything we have seen and learned in the last several months has only strengthened our resolve and our confidence in our ability to achieve the $1 billion Adjusted EBITDA target in the coming years.”