Bowlero slides as Q3 results disappoint

Lucky Strike Entertainment

06/05/2024 13:00

** Shares of bowling center operator Bowlero  BOWL.N  fall
11% to $11.12 premarket after Q3 results miss estimates
    ** Stock to open at over a three-month low if losses hold
    ** Co posts Q3 rev of $337.7 mln, below analysts'
expectations of $341.4 mln - LSEG
    ** BOWL's Q3 net income of $23.8 mln also misses Street
estimates of $38.92 mln - LSEG
    ** Bowlero expects full-year revenue and core earnings to be
near the lower end of forecast
    ** All 10 brokerages covering BOWL have a "buy" or higher
recommendation with a median PT of $18
    ** Up to last close, stock had fallen 11.8% YTD 

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))