NYSE$LUCK
Lucky Strike Entertainment Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported double-digit total growth and strategic acquisitions.
Bowlero Corp. reported an 11.8% increase in revenue to $305.7 million for the second quarter of fiscal year 2024. The company's acquisition of Lucky Strike contributed to this growth, and the event business saw a 30% increase. However, the company reported a net loss of $63.5 million, which includes $64.1 million of expense from the non-cash impact of the earnouts for the current period.
- Revenue increased by 11.8% to $305.7 million compared to the prior year.
- Adjusted EBITDA reached $103.1 million, up from $97.0 million in the prior year.
- Three locations were added during the quarter, including two acquisitions and one new build-out.
- The company repurchased approximately 7.5 million shares of Class A common stock for around $80 million during the quarter.
Headline financials
Revenue & EPS history
Lucky Cement Ltd · Revenue · Quarterly
$306M
Revenue by segment
Lucky Cement Ltd · $284M total across 3 segments · Q4 2024
- Bowling$131M—46.0%
- Food & beverage$97.2M—34.3%
- Amusement & other$55.9M—19.7%
Forward guidance
The Company expects Revenue to be up 10% to 15% in fiscal year 2024, excluding the $21 million of Service Fee Revenue1 from prior year revenue, equating to $1.14 billion to $1.19 billion. Adjusted EBITDA margin is expected to be 32% to 34%, which equates to Adjusted EBITDA of $365 million to $405 million. The Company expects the third quarter of fiscal year 2024 to have Revenue Excluding Service Fee Revenue of $335 million to $350 million and Adjusted EBITDA of $128 million to $143 million.
Tailwinds
- Revenue is expected to increase by 10% to 15% in fiscal year 2024.
- Adjusted EBITDA margin is projected to be between 32% and 34% for fiscal year 2024.
- Revenue Excluding Service Fee Revenue for Q3 2024 is expected to be $335 million to $350 million.
- Adjusted EBITDA for Q3 2024 is anticipated to be $128 million to $143 million.
- Significant reinvestment in the business is planned for fiscal year 2024, including acquisitions, new builds, and conversions and growth initiatives.
Headwinds
- Meaningful weather headwinds in the first three weeks of January are expected to impact the third quarter.
- The company experienced a net loss of $63.5 million for the quarter.
- The net loss includes a $64.1 million expense from the non-cash impact of earnouts.
- Cautious approach to the third quarter due to weather headwinds.
- The company is reinvesting heavily in the business in fiscal year 2024, with more than $190 million allocated to acquisitions (up from $160 million), $40 million to new builds, and $80 million to conversions and growth (up from $75 million).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+2.0%
Avg return
Earnings day
+4.5%
Avg return
5 days after
+7.3%
Avg return
30 days after
55%
11 / 20 earnings
Positive
+16.1%
Q2 2024
Best reaction
-15.0%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -1.6% | +0.4% | -2.5% | |
| Q2 2026 | -13.5% | +3.0% | +16.5% | |
| Q1 2026 | -0.7% | -1.7% | +5.5% | |
| Q3 2025 | -11.9% | -4.3% | -4.9% | |
| Q2 2025 | -1.3% | +10.1% | -12.4% | |
| Q1 2025 | +12.5% | +11.3% | +12.9% | |
| Q4 2024 | +2.6% | -5.3% | +6.6% | |
| Q3 2024 | -9.8% | -12.1% | +5.2% | |
| Q2 2024 | +16.1% | +29.2% | +10.3% | |
| Q1 2024 | +12.9% | +9.9% | +16.6% | |
| Q4 2023 | +3.4% | +5.7% | +9.5% | |
| Q3 2023 | -15.0% | -14.3% | -12.6% | |
| Q2 2023 | +4.2% | +8.3% | +4.8% | |
| Q1 2023 | -0.8% | -4.5% | -8.5% | |
| Q4 2022 | +3.4% | +7.4% | +8.1% | |
| Q3 2022 | +14.4% | +23.4% | +12.1% | |
| Q4 2021 | +13.6% | +12.8% | +39.9% | |
| Q2 2022 | +13.6% | +12.8% | +39.9% | |
| Q1 2022 | +0.9% | +0.7% | +0.0% | |
| Q3 2021 | -2.8% | -2.8% | -0.5% |
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