Bowlero reports Q1 EPS adjusted EBITDA $62.9M vs. $52.1M last year

Reports Q1 revenue $260.2M, consensus $249.5M. “Total Location Revenue grew 17.5% year over year in the quarter as we outperformed the market driven by increased customer wallet share through heightened food, beverage, and experiential offerings,” said Founder, Chairman, and CEO Thomas Shannon. “Raging Waves, the largest waterpark in Illinois, outperformed expectations throughout the summer, in part from an expanded season pass offering. We acquired Boomers Parks, a leading family entertainment center brand in California and Florida. In addition, we recently acquired Spectrum Entertainment Complex, a 52-lane bowling and events venue near Grand Rapids, Michigan, and opened two Lucky Strike locations in Denver. We expect to open the flagship Lucky Strike Beverly Hills and Lucky Strike Ladera Ranch California, shortly. The M&A market is extremely active, and we look to continue to deploy capital at attractive returns through our long-proven underwriting process and operational excellence.”