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Dave & Buster's (PLAY) Q4 Earnings Beat Estimates, Rise Y/Y
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Dave & Buster's Entertainment, Inc. (PLAY - Free Report) reported impressive fourth-quarter fiscal 2022 results, with earnings and revenues beating the Zacks Consensus Estimate. Both metrics increased on a year-over-year basis. The upside was backed by robust comparable walk-in sales growth and strong recovery in its special events business.
Chris Morris, Dave & Buster’s chief executive officer, stated, “As a testament to this strength as well as the confidence we have in our future growth initiatives, our Board authorized a share repurchase program up to $100 million.”
Earnings & Revenues in Detail
In the fiscal fourth quarter, the company reported adjusted earnings per share (EPS) of 80 cents, surpassing the Zacks Consensus Estimate of 73 cents by 9.6%. In the year-ago quarter, it reported an adjusted EPS of 52 cents.
Dave & Buster's Entertainment, Inc. Price, Consensus and EPS Surprise
Quarterly revenues of $563.8 million surpassed the consensus mark of $537 million. In the prior-year quarter, the company reported revenues of $343.1 million. Revenues jumped 62.4% from fourth-quarter fiscal 2019.
Food and Beverage revenues (36.1% of total revenues in the fiscal fourth quarter) soared 69.5% year over year to $203.6 million. Amusement and Other revenues (63.9%) increased 61.5% year over year to $360.2 million.
Comps Details
In the fiscal fourth quarter, pro-forma comparable store sales (including Main Event branded stores) increased 19% year over year and 14.1% from the 2019 levels. In the quarter, pro-forma combined walk-in comparable store sales increased 12.1% year over year.
Operating Highlights
In the fiscal fourth quarter, operating income amounted to $77.2 million compared with $46.5 million in the prior-year quarter. The operating margin was 13.8% compared with 13.6% in the prior-year quarter. In the quarter, adjusted EBITDA was $138.4 million compared with $84.9 million in the prior-year quarter.
Balance Sheet
As of Jan 29, 2023, cash and cash equivalents totaled $181.6 million compared with $108.2 million as of Oct 30, 2022.
At the end of the fiscal fourth quarter, net long-term debt totaled $1,222.7 million compared with $1,222.2 million at the end of third-quarter fiscal 2022.
FY22 Highlights
Total revenues in fiscal 2022 were $1,964.4 million compared with $1,304.1 million in fiscal 2021.
Operating income in fiscal 2022 was $262.5 million compared with $187.2 million in fiscal 2021.
In fiscal 2022, adjusted EPS was $2.79 compared with $2.21 in the previous year.
Papa John’s International, Inc. (PZZA - Free Report) reported fourth-quarter fiscal 2022 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year basis.
PZZA cited a challenging macroeconomic environment, including softening economic conditions (in the U.K.), food and wage inflation, and high energy prices. The company anticipates international comp sales to remain under pressure throughout 2023.
The Cheesecake Factory Incorporated (CAKE - Free Report) reported fourth-quarter fiscal 2022 results, wherein earnings met the Zacks Consensus Estimate but revenues missed the same. The top and bottom lines rose year over year, courtesy of incremental pricing and cost-saving efforts despite continued inflation, volatility and a dynamic operating environment.
David Overton, chairman and CEO of Cheesecake Factory, stated, “During the quarter, we opened eight new restaurants and successfully implemented incremental pricing to support our stated objective of recovering our operating margins. We believe the strong consumer demand we experienced at our new restaurant openings and continued positive sales trends following our pricing actions demonstrate the strength and resilience of our concepts.”
YUM! Brands, Inc. (YUM - Free Report) reported solid fourth-quarter 2022 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
In fourth-quarter 2022, the company's adjusted EPS was $1.31, surpassing the Zacks Consensus Estimate of $1.25. Quarterly revenues of $ 2,019 million beat the consensus mark of $1,927 million. Also, the top line increased 6.8% year over year. The upside can be attributed to an increase in franchise and property revenues.
YUM! Brands’ results in the quarter benefited from increased contributions from Taco Bell, robust digital initiatives through mobile and online platforms across all brand segments, and same-store sales growth. The company has been benefiting from a recovery in emerging markets. Given the emphasis on consumer value proposition, expanded digital access and franchise partners, the company anticipates the momentum to continue in the upcoming periods.
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Dave & Buster's (PLAY) Q4 Earnings Beat Estimates, Rise Y/Y
Dave & Buster's Entertainment, Inc. (PLAY - Free Report) reported impressive fourth-quarter fiscal 2022 results, with earnings and revenues beating the Zacks Consensus Estimate. Both metrics increased on a year-over-year basis. The upside was backed by robust comparable walk-in sales growth and strong recovery in its special events business.
Chris Morris, Dave & Buster’s chief executive officer, stated, “As a testament to this strength as well as the confidence we have in our future growth initiatives, our Board authorized a share repurchase program up to $100 million.”
Earnings & Revenues in Detail
In the fiscal fourth quarter, the company reported adjusted earnings per share (EPS) of 80 cents, surpassing the Zacks Consensus Estimate of 73 cents by 9.6%. In the year-ago quarter, it reported an adjusted EPS of 52 cents.
Dave & Buster's Entertainment, Inc. Price, Consensus and EPS Surprise
Dave & Buster's Entertainment, Inc. price-consensus-eps-surprise-chart | Dave & Buster's Entertainment, Inc. Quote
Quarterly revenues of $563.8 million surpassed the consensus mark of $537 million. In the prior-year quarter, the company reported revenues of $343.1 million. Revenues jumped 62.4% from fourth-quarter fiscal 2019.
Food and Beverage revenues (36.1% of total revenues in the fiscal fourth quarter) soared 69.5% year over year to $203.6 million. Amusement and Other revenues (63.9%) increased 61.5% year over year to $360.2 million.
Comps Details
In the fiscal fourth quarter, pro-forma comparable store sales (including Main Event branded stores) increased 19% year over year and 14.1% from the 2019 levels. In the quarter, pro-forma combined walk-in comparable store sales increased 12.1% year over year.
Operating Highlights
In the fiscal fourth quarter, operating income amounted to $77.2 million compared with $46.5 million in the prior-year quarter. The operating margin was 13.8% compared with 13.6% in the prior-year quarter. In the quarter, adjusted EBITDA was $138.4 million compared with $84.9 million in the prior-year quarter.
Balance Sheet
As of Jan 29, 2023, cash and cash equivalents totaled $181.6 million compared with $108.2 million as of Oct 30, 2022.
At the end of the fiscal fourth quarter, net long-term debt totaled $1,222.7 million compared with $1,222.2 million at the end of third-quarter fiscal 2022.
FY22 Highlights
Total revenues in fiscal 2022 were $1,964.4 million compared with $1,304.1 million in fiscal 2021.
Operating income in fiscal 2022 was $262.5 million compared with $187.2 million in fiscal 2021.
In fiscal 2022, adjusted EPS was $2.79 compared with $2.21 in the previous year.
Zacks Rank & Peer Releases
Dave & Buster's currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Papa John’s International, Inc. (PZZA - Free Report) reported fourth-quarter fiscal 2022 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year basis.
PZZA cited a challenging macroeconomic environment, including softening economic conditions (in the U.K.), food and wage inflation, and high energy prices. The company anticipates international comp sales to remain under pressure throughout 2023.
The Cheesecake Factory Incorporated (CAKE - Free Report) reported fourth-quarter fiscal 2022 results, wherein earnings met the Zacks Consensus Estimate but revenues missed the same. The top and bottom lines rose year over year, courtesy of incremental pricing and cost-saving efforts despite continued inflation, volatility and a dynamic operating environment.
David Overton, chairman and CEO of Cheesecake Factory, stated, “During the quarter, we opened eight new restaurants and successfully implemented incremental pricing to support our stated objective of recovering our operating margins. We believe the strong consumer demand we experienced at our new restaurant openings and continued positive sales trends following our pricing actions demonstrate the strength and resilience of our concepts.”
YUM! Brands, Inc. (YUM - Free Report) reported solid fourth-quarter 2022 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.
In fourth-quarter 2022, the company's adjusted EPS was $1.31, surpassing the Zacks Consensus Estimate of $1.25. Quarterly revenues of $ 2,019 million beat the consensus mark of $1,927 million. Also, the top line increased 6.8% year over year. The upside can be attributed to an increase in franchise and property revenues.
YUM! Brands’ results in the quarter benefited from increased contributions from Taco Bell, robust digital initiatives through mobile and online platforms across all brand segments, and same-store sales growth. The company has been benefiting from a recovery in emerging markets. Given the emphasis on consumer value proposition, expanded digital access and franchise partners, the company anticipates the momentum to continue in the upcoming periods.