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Dave & Buster’s Down 48% This Year Ahead of Q2 Earnings and New CEO

Dave & Buster’s reports second-quarter fiscal 2026 results at 4:05 PM ET tonight, with investors focused on whether the company’s turnaround is finally gaining traction.

Management entered the quarter expecting positive comparable-store sales for the remainder of fiscal 2026 and more than $100 million in full-year free cash flow.

But expectations have fallen sharply. Consensus EPS has dropped from $0.8363 just 30 days ago to $0.1872 today as softer traffic has weighed on the outlook. That follows a first quarter in which comparable-store sales fell 5.4% and adjusted EPS of $0.22 missed expectations.

With PLAY shares down more than 60% over the past 12 months, investors have already priced in considerable trouble. The key question tonight is whether management can show a credible inflection in comparable sales while maintaining its free cash flow outlook. Another guidance cut or continued comp weakness would suggest Dave & Buster’s problems run deeper than a temporary traffic slowdown.

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Thomas Richmond

That wraps up our initial coverage of Dave & Buster’s Q2 results. Thank you for stopping by!

Thomas Richmond

Dave & Buster’s just reported earnings, with shares initially dropping 13% following the report. Here are the key numbers:

  • Revenue: $544.10 million vs. $556.83 million expected
  • Adjusted EPS: -$0.27 vs. $0.19 expected

Both the top and bottom lines missed expectations, with revenue declining 2.4% year over year. Expectations were already low heading into the print, with consensus calling for roughly $0.19 per share.

Quick Read:

A double miss is hitting PLAY hard: Revenue fell about $13 million short of estimates, while the company swung to an adjusted loss versus expectations for a profit.

With shares already deeply depressed entering earnings, tonight’s 13% drop suggests investors wanted clearer evidence that Dave & Buster’s operating trends are stabilizing.

Thomas Richmond

This live blog is being updated by Thomas Richmond, a 24/7 Wall St. contributor. Simply stay on this page, and new updates will appear below automatically.

We expect Dave & Buster’s to release Q2 earnings shortly after 4:05 p.m. ET.

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