Dave & Buster’s reports Q1 adjusted EPS $1.12, consensus $1.01

Reports Q1 revenue $567.7M, consensus $565M. Comparable store sales decreased 8.3% in Q1. “I am pleased to report that we are making good progress and our operating results significantly improved over the course of the first quarter. While performance in the first quarter was nowhere close to where we want and expect to be, our “back to basics” strategy is working and is driving a material recovery in our top-line trajectory. In the quarter, we unwound many clear mistakes and made high confidence changes to marketing, menu, operations, remodels and games investment. We are improving our execution every day and have a very clear road map of work to do to continue to drive improvements and meaningful growth in the business. The leadership team and our Board are as confident as ever that our current actions will lead to significantly improved revenue, adjusted EBITDA, free cash flow and shareholder value in the months ahead,” said Kevin Sheehan, board chair and interim CEO.