EarningsQ2 2026 Earnings Report
DE:9DB Q2 2026 EPS Results
Actual EPS-€0.32
Consensus EPS€0.16
Beat/MissMissed by -€0.47
One Year Ago EPS€0.28
DE:9DB Q2 2026 Revenue Results
Actual Revenue€478.32M
Expected Revenue€489.51M
Beat/MissMissed by -€11.19M
YoY Revenue Growth-2.39%
Earnings Announcement Details
QuarterQ2 2026
Date09/14/2026
TimeAfter Close
Conference CallMonday, September 14, 2026
DE:9DB Upcoming Earnings
Dave & Busters Entertainment's next earnings date is estimated for December 8, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:9DB Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive, with higher production and sales, successful New Acland ramp-up, strong cash generation, a fully franked dividend, resilient margins, and a constructive coal-market outlook. These strengths outweighed the reported challenges, including the 21% increase in TRIFR, lower realized pricing, higher FOB cash costs, diesel-cost exposure, rail constraints at New Acland, and ongoing Maxwell losses.Company Guidance
Higher Coal Production and Sales
Run-of-mine coal production increased 3% to 16.9 million tonnes, saleable coal production increased 8% to 11.5 million tonnes, and coal sales increased 4% to 11.8 million tonnes. Saleable production and coal sales exceeded guidance ranges, supported by the continued ramp-up of New Acland Mine and Bengalla Mine's return to nameplate production capacity.
Strong Financial Results and Cash Generation
The group delivered revenue of $1.8 billion, underlying EBITDA of $514 million, and statutory NPAT of $161 million. EBITDA and NPAT were impacted by a temporary increase in strip ratio at Bengalla Mine and lower realized pricing, but the business continued to generate solid margins and cash.
Fully Franked Dividend and Shareholder Returns
The Board declared a fully franked final dividend of $0.30 per share. The group returned $206 million to shareholders through fully franked dividends, achieved approximately 33% total shareholder return during the period, and has paid more than $2 billion in fully franked dividends over the last 5 years.
Bengalla Production Exceeded Guidance
Bengalla Mine delivered saleable coal production of 8.2 million tonnes, exceeding its guidance range. Its FOB cash cost was $81.30 per saleable tonne, at the low end of its guidance range, and the operation achieved a strong second-half finish.
New Acland Ramp-Up Progress
New Acland produced 3.3 million tonnes of saleable coal in FY2026, an uplift of 17% compared with the previous year. Coal sales reached 3.6 million tonnes and exceeded guidance. Production is expected to move into the 4 million tonne range in FY2027 and reach 5 million tonnes within approximately 18 months.
Resilient Low-Cost Asset Margins
Despite lower coal prices and uncontrollable increases in cash costs, the group's low-cost assets generated an underlying margin of $45 per tonne, approximately 30%, demonstrating the stated resilience and low-cost nature of the operations.
Organic Growth Investment
$161 million was invested back into the business, largely through capital expenditure, supporting the group's organic growth profile. At New Acland, $16 million was incurred on public road realignment to enable development of the Manning Vale West Pit third mining area.
Growth Pipeline and Expansion Opportunities
The growth pipeline targets a significant increase in coal production over the next 2 years, described as low-risk and cost-effective growth. Potential brownfield extensions are also being explored at Bengalla and New Acland, with New Acland surrounding tenements described as prospective and having an approximately 2:1 strip ratio in some areas.
Positive Industry and Coal Price Outlook
Management expressed a very strong outlook for the industry, stating that global power-demand growth should continue to support seaborne Australian thermal coal exports. The company also cited aging thermal coal assets and underinvestment in new projects as factors suggesting a potential supply shortfall and attractive pricing outlook.
Coal-to-Gas Switching Supports Prices
Management said Asian countries, including Korea and Japan, were switching toward Australian coal, while Indonesian quotas, stoppages in China, heightened gas-supply concerns, and the relative stability of Australian coal shipping were supporting the Newcastle and high-CV coal indices. Management said coal prices around $150 had a good chance of remaining at that level or potentially moving higher, with a hot, drier El Nino summer also expected to underpin prices.
Disciplined Capital Management
Management said the group has strong cash generation, a minimum cash balance target of around $300 million, and sufficient capital to fund organic growth. The company expects to assess its cash position around the middle of FY2027 when considering an interim dividend.
Bengalla Brownfield Extension Potential
A potential extension of Bengalla to the west is being explored as a brownfield extension adjacent to existing operations. The current permit extends to 2039, reserves within that permit are expected to be exhausted around 2037, and management said engagement with government had produced positive feedback.
Community and Local Supplier Contributions
Bengalla invested $1.5 million in the community and spent $186 million with local suppliers. New Acland invested $800,000 in the community and spent $70 million with local suppliers.
Rehabilitation Progress
Across Bengalla and New Acland, 3,086 hectares have been disturbed through mining activities, with approximately 35% of that area rehabilitated.
Improved High Potential Event Frequency Rate
The high potential event frequency rate decreased 38%, from 5.82 to 3.59. Management said this measure became the group's primary safety measure during the financial year and is intended to focus attention on events and conditions with the potential to cause fatal or permanently life-altering injuries.
Convertible Note Dilution Mitigation
The capped call associated with the convertible bond has a strike price of $7.41 as at 31 July and is expected to push the effective strike price to an average blended rate of $9.55. Both the convertible bond and capped-call strike prices will adjust based on the dividend, with the bond strike expected to decline to around $7.
DE:9DB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed