Dave & Buster's Entertainment (PLAY) Tops Q1 EPS by 17c, Beats on Revenues; Raises FY18 Revenue Outlook
Dave & Buster's Entertainment (NASDAQ: PLAY) reported Q1 EPS of $0.98, $0.17 better than the analyst estimate of $0.81. Revenue for the quarter came in at $304.1 million versus the consensus estimate of $299.85 million.
GUIDANCE:
Dave & Buster's Entertainment sees FY2018 revenue of $1.16-1.17 billion, versus the consensus of $1.17 billion.
Financial Outlook
We are raising our financial outlook for fiscal 2017, which includes 53 weeks and ends on February 4, 2018:
- Total revenues of $1.160 billion to $1.170 billion (vs. $1.155 billion to $1.170 billion previously)
- Comparable store sales increase of 2% to 3% (on a comparable 52-week basis)
- 12 new stores (vs. 11 to 12 new stores previously)
- Net income of $107 million to $111 million (vs. $101 million to $105 million previously)
- EBITDA of $276 million to $282 million (compared to $270 million to $277 million previously)
- Diluted share count of 43.2 million to 43.4 million (unchanged but now includes the impact of ASU 2016-09).
- Effective tax rate of 34.5% to 35.0% (compared to 36.0% to 37.0% previously)
- Effective tax rate and net income guidance for full year 2017 includes a $3.3 million reduction in our first quarter provision for income taxes resulting from the implementation of ASU 2016-09. The requirements of this standard will likely further reduce our effective tax rate depending on future stock option exercises. Our guidance excludes any potential future impacts of ASU 2016-09 on our effective tax rate
For earnings history and earnings-related data on Dave & Buster's Entertainment (PLAY) click here.