Dave & Buster's shares fall after second-quarter loss misses estimates and target cut

  • Dave & Buster's reported a 27-cent second-quarter adjusted loss, missing the 24-cent consensus estimate.
  • Freedom Capital Markets cut its Dave & Buster's price target to $9 from $13.
  • Dave & Buster's shares traded 13.46% lower at $7.33 Tuesday.

Dave & Buster's Entertainment posted a fiscal second-quarter net loss of $12.5 million, reversing an $11.4 million profit a year earlier, as revenue fell 2.4% to $544.1 million. The adjusted loss of 27 cents per share was wider than the 24-cent consensus loss cited in the latest report, while adjusted EBITDA dropped to $98.9 million from $129.8 million. Comparable-store sales declined 2.9%, led by weaker entertainment revenue, though food, beverage and special-events sales grew. Shares traded 13.46% lower at $7.33 Tuesday after Freedom Capital Markets cut its price target to $9 from $13.

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