Entertainment venue operator Lucky Strike (NYSE:LUCK) will be announcing earnings results tomorrow before market open. Here’s what you need to know.
Lucky Strike missed analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $300.1 million, down 1.8% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and EPS estimates.
Is Lucky Strike a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Lucky Strike’s revenue to grow 6.5% year on year to $359.8 million, in line with the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lucky Strike has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Lucky Strike’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Live Nation’s revenues decreased 11% year on year, missing analysts’ expectations by 2.8%, and Hasbro reported revenues up 17.1%, topping estimates by 14.8%. Live Nation traded up 1.9% following the results while Hasbro was also up 15.9%.
Read our full analysis of Live Nation’s results here and Hasbro’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 12.7% on average over the last month. Lucky Strike is up 23.2% during the same time and is heading into earnings with an average analyst price target of $14.80 (compared to the current share price of $9.78).
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