Dave & Buster’s Entertainment, Inc. (PLAY), a company that owns and operates entertainment and dining venues for adults and families, has gained an increase of 3.93% in aftermarket trading session. Consequently, PLAY stock is trading at $34.40 at the time of the writing. On Tuesday, PLAY closed the day at $33.10 after gaining a nominal increase of 1.35% during regular trading hours. The consistent increase could be attributed to the announcement of quarterly results.
PLAY Q3 2021 Operational Results
On Tuesday, PLAY released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 31st October. The company generated total revenue of $317.9 million during the quarter against $109 million for the same period of 2020. The total operating costs stood at $293.5 million against $165 million for the same period of 2020. The net income generated by the company during the three months was $10.5 million (or $0.22 and $0.21 per basic and diluted share) against the net loss of $48 million (or $1.01 per basic and diluted share) for the same period of 2020.
Financial Outlook
PLAY also released the financial outlook for the upcoming quarter alongside these operational results. The company expects that the comparable store sales for the quarter would be slightly positive as compared to the same quarter of 2019. The walk-in comparable store sales are also expected to remain on the stronger side. The adjusted EBITDA margin is expected to increase by 200 bps compared to that of 2019. The company expects four new store openings during the fiscal year 2021.
Executive Commentary
Kevin Sheehan, Interim Chief Executive Officer of PLAY, while commenting on the results said that the company is pleased to report some outstanding results. He said that the company has begun a new phase of innovation, growth, and value creation with a sharp focus on realizing the company’s upside potential.
Future Outlook for PLAY
During the last month, PLAY stock has declined approximately 18%. That decline could be the result of uncertainty associated with the stock during that period. However, analysts are optimistic that PLAY stock tends to impress upon potential investors in the future to come.
