|Over a month ago|
Drive Shack reports Q1 EPS (15c), consensus (14c) » 06:5505/0705/07/21
Reports Q1 revenue…
Reports Q1 revenue $61.1M, consensus $61.41M. "2021 is off to a strong start for the year given the performance in both our Drive Shack and American Golf businesses this quarter. We are extremely pleased with our first quarter progress as our results demonstrate impressive momentum in the golf and entertainment sector with nearly a full recovery from the walk-in sales side of our business. Our strong results validate our team's ability to adapt to the constant changes as well as the wants and needs of our guests," said CEO Hana Khouri. "Total walk-in revenue for the quarter at our Drive Shack venues was 96% of last year's Q1 levels, the highest we have seen since the onset of the pandemic. We delivered our third consecutive quarter of positive adjusted EBITDA, which increased $7.4M to $2.7M this quarter compared to the same quarter last year and continues to be positively impacted by our relentless focus on revenue driving initiatives and continued expense control discipline. The entire organization remains centered on our 2021 strategic priorities to drive growth and profitability, including the launch and expansion of Puttery. We recently announced our third location in Penn Quarter, Washington DC's premier entertainment zone, and our plans remain on track to debut our first two Puttery venues in Dallas and Charlotte this summer. We are energized by the robust pipeline of potential sites we are pursuing in multiple key markets and we look forward to sharing future Puttery locations with you as we finalize new leases. We believe 2021 will be an instrumental year for us as we advance our growth priorities throughout the year and beyond."
Drive Shack initiated with a Buy at Craig-Hallum » 08:3203/2603/26/21
Craig-Hallum analyst Alex…
Craig-Hallum analyst Alex Fuhrman initiated coverage of Drive Shack with a Buy rating and $5 price target. With vaccines being rolled out and the economy recovering, he sees a "tremendous opportunity" for "high growth, trend-right dining and entertainment concepts," such as Drive Shack to open locations ahead of what he thinks could be "a decade-long boom in demand," Fuhrman tells investors. He thinks the company is poised to aggressively build out its new Puttery concept, which has "all the signs of a winner," as the economy reopens and demand "roars back," the analyst added.
|Over a quarter ago|
Drive Shack cost cuts should be 'largely permanent,' says BTIG » 14:4203/1203/12/21
After Drive Shack posted…
After Drive Shack posted "materially better than expected" earnings in Q4 despite weaker sales, BTIG analyst Peter Saleh attributed the bottom-line performance to cost cuts that he expects to be "largely permanent" and drive meaningful improvements in EBITDA as the year progresses and COVID restrictions ease. The analyst, who also believes Drive Shack's partnership with Rory McIlroy "will elevate the Puttery concept and bring much needed publicity," keeps a Buy rating and $5 price target on the shares.
Fly Intel: Pre-market Movers » 08:5303/1203/12/21
LB, CFRX, NVAX, WISA, ITRM, DSSI, OCUL, POSH, RIDE, MRKR, POWW, DS
Check out this morning's…
Drive Shack reports Q4 EPS 13c, consensus (19c) » 06:5303/1203/12/21
Reports Q4 revenue…
Reports Q4 revenue $60.3M, consensus $55.71M.
Drive Shack 20.833M share Secondary priced at $2.40 » 07:0101/2901/29/21
BTIG and Craig-Hallum…
BTIG and Craig-Hallum acted as joint book running managers for the offering.
Drive Shack announces offering of $50M of common stock » 17:1301/2801/28/21
Drive Shack announced the…
Drive Shack announced the launch of an underwritten public offering of $50M of shares of common stock, subject to market conditions. The company intends to use the net proceeds from this offering for investments and general corporate purposes, including for working capital and the planned development of five of seven Puttery venues in 2021. BTIG is acting as lead book-running manager and Craig-Hallum Capital Group is acting as joint book-running manager for the offering.
Drive Shack announces collaboration with professional golfer Rory McIlroy » 12:2601/2601/26/21
Drive Shack announced…
Drive Shack announced that it is partnering with global golf superstar Rory McIlroy on its entertainment golf brand. Puttery is the Company's new indoor, small format entertainment experience that will feature high-tech mini golf and premium food and beverage offerings. Drive Shack expects to open its first Puttery location in The Colony/Dallas, Texas in the summer of 2021, followed soon thereafter by a second location in Charlotte, North Carolina. Drive Shack has previously announced it plans to open an additional five Puttery locations by the end of 2021 and 10 additional locations by the end of 2022. The terms of Drive Shack's partnership with Rory McIlroy are set forth in a non-binding memorandum of understanding and remain subject to the execution of definitive documentation.
Drive Shack launches single-bay online reservation system » 06:4101/0401/04/21
Drive Shack has announced…
Drive Shack has announced the launch of its single-bay online reservation system across all four of its Drive Shack locations. The online booking platform allows groups of 6 guests or less to make single-bay reservations up to 7 days in advance. "We are extremely pleased with the early response we've seen from the recent launch of our single-bay, online reservation platform," said President and CEO, Hana Khouri. "Our venues continue to experience strong demand during peak hours and with our new online reservations system, we can more effectively provide convenience and predictability for our guests and also deliver a quick and seamless check-in experience upon arrival."
Drive Shack files $500M mixed securities shelf 17:2112/2312/23/20