Press release

Why Bowling Center Operator Bowlero's Shares Are Surging Today

Bowlero Corp (NYSE: BOWL) shares are trading higher by around 12% after it reported Q1 FY24 results.

Sales declined 1.2% Y/Y to $227.4 million, missing the analyst consensus of $229.4 million.

Same-store revenue declined 5.5% Y/Y and grew 27.1% versus Q1 FY20.

Gross profit for the quarter plummeted to $44.5 million from $65.1 million prior year.

Adjusted EBITDA of $52.1 million declined from $65.3 million, with the margin shrinking from 28.4% to 22.9%.

Net income for the quarter was $18.2 million versus a loss of $(33.5) million last year. EPS ...

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