Why Is Bowling Center Operator Bowlero Stock Surging Today?



Bowlero Corp (NYSE:BOWL) shares are trading higher after it reported second-quarter FY24 results.

Revenue rose 11.8% Y/Y to $305.7 million, beating the analyst consensus of $300.5 million.

Same-store revenue grew 0.2% Y/Y and increased 27.8% versus second-quarter FY20.

Gross profit for the quarter fell to $90.6 million from $93.7 million the prior year.

Adjusted EBITDA of $103.1 million increased from $97.0 million, with the margin contracting to 33.7% from 35.5% a year ago.

EPS loss of $(0.44) missed the consensus of $0.12.

The company held $190 million in cash and cash equivalents as of December 31, 2023. Operating cash flow for the quarter was $55.1 …

Full story available on Benzinga.com


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