Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) Q4 2023 Earnings Conference Call April 2, 2024 5:00 PM ET

Company Participants

Cory Hatton - VP of IR & Treasurer
Chris Morris - CEO
Michael Quartieri - CFO

Conference Call Participants

Jake Bartlett - Truist Securities
Andrew Barish - Jefferies
Jeffrey Farmer - Gordon Haskett
Brian Vaccaro - Raymond James
Andrew Strelzik - BMO
Sharon Zackfia - William Blair
Dennis Geiger - UBS

Operator

Good afternoon, and welcome to the Dave & Buster's Fourth Quarter and Full Year 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Cory Hatton, Vice President of Investor Relations and Treasurer. Please go ahead.

Cory Hatton

Thank you, operator, and welcome to everyone on the line. Leading today's call will be Chris Morris, our Chief Executive Officer; and Mike Quartieri, our Chief Financial Officer. After our prepared remarks, we will be happy to take your questions. This call is being recorded on behalf of Dave & Buster's Entertainment, Inc. and is copyrighted.

Before we begin the discussion on our company's fourth quarter and fiscal year-end 2023 results, I'd like to call your attention to the fact that in our remarks and our responses to questions, certain items may be discussed, which are not entirely based on historical fact. Any of these items should be considered forward-looking statements within relating to future events within the meaning of the Private Securities Litigation Reform Act of 1995.

All such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Information on the various risk factors and uncertainties have been published in our filings with the SEC, which are available on our website.

In addition, our remarks today will include references to financial measures that are not defined under generally accepted accounting principles. Investors should review the reconciliation of these non-GAAP measures to the comparable GAAP measure contained in our earnings announcement released this afternoon.

And with that, it is my pleasure to turn the call over to Chris.

Chris Morris

All right. Thank you, Cory. Good afternoon, everyone, and thank you for joining our call today. In our fourth quarter of fiscal 2023, we generated revenue of $599 million and adjusted EBITDA of $152 million. These improved year-over-year results benefited from an extra 14th operating week in the fourth quarter. However, this was partially offset by the considerable weather related headwinds, our business faced in the month of January, as you've likely heard about by now from many of our peers.