Dave & Buster's Entertainment surges over six-year high on Q4 margin growth

Dave and Busters Entertainment,

03/04/2024 15:15

(Updates)
    ** Shares of Restaurant chain operator Dave & Buster's
Entertainment  PLAY.O  gain as much as 12% to a more than
six-year high of $69.34
    ** Co reports Q4 revenue and adjusted profit below
expectations, but cheers investors with strong core margin
growth
    ** Increases its share repurchase program by an additional
$100 mln
    ** Says adj. EBITDA margins grew 80 basis points compared
with last year, driven by revenue growth and material
improvements in its recurring cost structure
    ** PLAY's Q4 revenue grew 6.3% to $599.1 mln, missing
analysts' average expectations of $602.6 mln, as per LSEG data
    ** Q4 adjusted EPS of $1.03 misses estimates of $1.10/shr
    ** YTD, stock up ~15% as of last close

 (Reporting by Juveria Tabassum and Annett Mary Manoj in
Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com))