PLAY - Dave & Buster's trades higher after record revenue tally

2023-03-28 16:25:49 ET

Dave & Buster's Entertainment ( NASDAQ: PLAY ) shares rose 3.15% in postmarket trading after the entertainment company blasted past consensus marks with its Q4 earnings report.

The Texas-based restaurant and entertainment chain churned up a record $564M in sales for the quarter, which was up 64% from the prior year. Pro forma combined comparable store sales including Main Event branded stores were up 19.0% during the quarter and were 14.1% compared with the same period in 2019.

Adjusted EBITDA increased 62.9% to $138.4M, which was 24.5% of revenue vs. 21.5% last year.

CEO Christopher Morris said robust comparable walk-in sales growth and the tailwind of our special events business continued to recover to pre-pandemic norms.

Dave & Buster's ( PLAY ) ended the quarter with $672.7M of liquidity, which included $181.6M in cash and $491.1M available under its $500M revolving credit facility. The company announced a $100M share buyback plan.

Dave & Buster's ( PLAY ) has now topped revenue estimates in four straight quarters.

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