Dave & Buster’s Entertainment, Inc. (NASDAQ: PLAY), which operates a chain of casual dining and leisure facilities, reported a sharp increase in fourth-quarter earnings, aided by double-digit growth in revenues. Comparable-store sales increased at a faster pace.
The Dallas-based company reported a net income of $39.1 million or $0.80 per share for the January quarter, up from the prior-year profit of $25.7 million or $0.52 per share. Adjusted EBITDA moved up 63% annually to $138.4 million.
Fourth-quarter revenues climbed 64% year-over-year to $563.8 million, reflecting a 19% growth in comparable store sales. Both operating segments — Food and Beverages and Amusement and Other — registered growth.
“Fresh off the heels of our annual general manager’s conference, our exceptional team of operators and shared service center employees is motivated and energized to deliver on our goals we’ve set for the business in 2023 and beyond to realize our full potential. We look forward to sharing our progress with you throughout the course of the year as we continue to drive value creation for our stakeholders,” said Chris Morris, chief executive officer of Dave & Buster’s Entertainment.