Tue, Sep 10, 8:21 PM (102 days ago)
For Q2 2024, Dave & Buster's reported revenue of $557.1 million, a 2.8% increase year-over-year, despite a 6.3% decline in comparable store sales. Net income rose to $40.3 million ($0.99 per diluted share) from $25.9 million ($0.60 per diluted share) in Q2 2023. Adjusted EBITDA improved by 8.1% to $151.6 million. The cost of products decreased to 14.7% of total revenue, driven by price increases in food and beverage. Operating payroll costs increased slightly to 23.6% of revenue, reflecting higher staffing for new stores. The company opened six new locations, bringing total stores to 224. Cash and equivalents fell to $13.1 million, with cash flow from operations up to $210.6 million. The long-term debt remained stable at $1.292 billion. The effective tax rate decreased to 20.7%. Future operations may be impacted by inflation and competitive pressures, though management anticipates strong cash flow to support ongoing capital expenditures and share repurchase programs.