Here is why Dave & Buster’s Entertainment Inc (PLAY) stock soared on Thursday?

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CLBS Stock
CLBS Stock

Dave & Buster’s Entertainment Inc (PLAY) shares gained 6.52% in after-hours on Thursday, September 09, 2021, and closed the daily trading at $37.75. Earlier in the regular trading on Thursday, PLAY’s stock jumped 1.93%. PLAY shares have risen 92.19% over the last 12 months, and they have moved down 5.57% in the past week. Over the past three months, the stock has lost 19.60%, while over the past six months, it has declined 22.31%.

Let’s discuss its recent news and developments.


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PLAY latest financial results announcement

On September 09, 2021, Dave & Buster’s Entertainment, Inc (PLAY) announced its financial results for its second quarter of the fiscal year 2021, which ended on August 1, 2021.

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Q2 2021 financial highlights

  • PLAY reported total record revenue of $377.6 million in the second quarter of 2021 compared with $50.8 million in the second quarter of 2020.
  • Total operating expenses were $298.5 million in Q2 2021 compared to $131.95 million in Q2 2020.
  • It earned a record net income of $52.8 million, or $1.07 per diluted share, in Q2 2021 compared with a net loss of $58.6 million, or $1.24 per share in Q2 2020.
  • Adjusted EBITDA was $119.2 million in Q2 2021 compared to Adjusted EBITDA loss of $38.5 million in Q2 2020.
  • As of August 1, 2021, the company had $108 million in cash and approximately $340 million of liquidity available under the Company’s $500 million revolving credit facility, net of a $150 million minimum liquidity covenant and $10 million in letters of credit.

PLAY participation in the investor conference

Dave & Buster’s Entertainment, Inc (PLAY) participated in a fireside chat at the Jefferies Virtual Consumer Conference which was held on Tuesday, June 22, 2021. The company was presented by Chief Executive Officer Brian Jenkins and Chief Financial Officer Scott Bowman.

PLAY Q1 2021 financial highlights

  • Dave & Buster’s Entertainment reported revenue of $265.3 million in the first quarter of 2020 compared with $159.8 million in the first quarter of 2020.
  • It earned a net income of $19.6 million, or $0.40 per diluted share, compared with a net loss of $43.5 million, or $1.37 per share in the first quarter of 2020.
  • In Q1 2021 EBITDA was $72.1 million compared to an EBITDA loss of $26.1 million in the first quarter of 2020.
  • As of May 2, 2021, the company had20 a million in cash and approximately $340 million of liquidity available under the Company’s revolving credit facility, net of a $150 million minimum liquidity covenant and $10 million in letters of credit.

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Conclusion

PLAY stock performed well on Thursday after the company announced record financial figures for Q2 2021 and it can continue to perform well on the last trading day of the week.

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