OneSpaWorld reports Q2 adjusted EPS 20c, consensus 20c

Reports Q2 revenue $224.9M, consensus $220.66M. CEO Leonard Fluxman commented: “Our team delivered an outstanding Q2 capping off an excellent first half of the year…Q2 included many noteworthy accomplishments. We grew total revenue by 12%, income from operations by 40% and adjusted EBITDA by 25%. We generated robust free cash flow, further bolstering our strong balance sheet….We are pleased to announce that our Board of Directors adopted an annual cash dividend program, which recognizes our ability to leverage our industry leading operating platform, integrated growth initiatives and asset-light business model to generate consistently increasing after-tax free cash flow…” CFO Stephen Lazarus added: “We ended the quarter with a strong balance sheet, including total cash of $63.7M after repaying $15.0M of our first lien term loan during the quarter. With our strong Q2 performance and a positive outlook, we have increased our fiscal year 2024 guidance. We now expect revenues to increase 11% and adjusted EBITDA to increase 18% at the mid-point of the guidance ranges from fiscal 2023 actual results.”