Dave & Buster's Entertainment (PLAY) Tops Q1 EPS by 13c, Raises FY Rev. Guidance
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Dave & Buster's Entertainment (NASDAQ: PLAY) reported Q1 EPS of $0.72, $0.13 better than the analyst estimate of $0.59. Revenue for the quarter came in at $262 million versus the consensus estimate of $251.42 million.
Comps increase 3.6%.
GUIDANCE:
Dave & Buster's Entertainment sees FY2016 revenue of $983-995 million, versus prior guidance of $967-987 million and the consensus of $981.8 million.
- Comparable store sales increase of 3.25% to 4.25% (from 2% to 4%).
- Adjusted EBITDA* of $254 million to $260 million (from $243 million to $251 million).
Effective immediately, the Board of Directors approved the terms of a share repurchase program, under which Dave & Buster’s is authorized to repurchase up to $100 million of its common shares through the end of fiscal 2018. The Company may repurchase shares on the open market, through privately negotiated transactions, and through trading plans designed to comply with Rule 10b5-1 of the Securities and Exchange Act of 1934. Purchases will be made at times and prices considered appropriate by management, subject to any applicable blackout periods. This authority will primarily be used to offset dilution caused by the issuance and exercise of stock options and other equity compensation. The share repurchase program may also be modified, suspended, or discontinued at any time.
For earnings history and earnings-related data on Dave & Buster's Entertainment (PLAY) click here.
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