Lucky Strike Entertainment 2026 Q4业绩电话会议纪要

发布时间：2026-08-28 一、AI总结内容 一、核心要点 1. 2026财年第四季度同店销售同比下降0.2%，较上年改善3.5个百分点，全年同店销售同比下降0.2%；总营收增长4%至12.45亿美元，调整后EBITDA为3.33亿美元2. 事件业务2024年以来首次于2026年5-8月实现正增长，12月订单同比从下降30%转为增长10%；已注销的3年营收缺口4000万美元计划3年内重建3. 资本开支呈下降趋势，2026财年降至1.14亿美元，2027财年预算9000万美元，长期将稳定在7000-8000万美元；2027财年计划完成所有品牌重构，仅保留Lucky Strike和AMF两个品牌4. 水公园业务2026年新增5个运营公园，已实现同比增长，2026财年营收5600万美元、EBITDA2200万美元，2027财年9月将贡献大部分水公园夏季收益 二、投资线索 1. 2027财年调整后EBITDA指引3.4-3.6亿美元，处于保守区间，核心增长动力为事件业务12月表现及下半年超预期恢复2. 2027财年营销投资将更侧重高ROI方向，目标将营销ROI提升至合理水平；目前营销预算占营收比例3%，长期目标调整3. 事件业务12月为关键期，当前订单同比增长10%，有望成为2027财年增长核心三、风险与关注 1. 2027财年业绩受天气影响显著，水公园高度依赖夏季天气，运营成本也与天气相关2. 加州市场仍为薄弱板块，去年同店销售同比下降0.4%，2027财年尚未纳入盈利预测，改造成效待观察3. 2027财年仍将保留约2-3个EBITDA为负的门店，不会大幅关停或出售门店，仅优化低效资产；2027财年计划处置约10个门店4. 水公园业务仍在测试运营模式，长期优化季节票销售时间、定价等策略以降低天气波动影响 二、音频原文（转写） the water parks and making sure that the organizational structure is there. But ultimately, thiscontinues to be an investment year. We're pretty happy with the trajectory we're on. Okay, gotyou. And then Bobby, probably one for you as well, wondering maybe how we should think about cadence, same store sales cadence for the fiscal year 2017. Your commentary, I think Tom's commentary around July and August were positive. That sounds good. So it sounds like the first quarter should be positive just based on maybe how Septem ber ends up. But any color around the last threequarters of the year in terms of how you guys have maybe -- I know it's tough to kind of forecast that, but what you guys are kind of thinkingfrom the same store sales perspective and then maybe anything from the headwind or tailwind forthe last 3 quarters of the year as well that weshould be thinking about. Yes, moving backwards,June was the worst month. that we're seeing here And so that is going to be a tailwind next year. We're not going to have the world's top and you know Hopefully the weather in Chicago is better. so june had some tailwinds Last year we had.about 10 million of revenue here. from two different Distinct snowstorms in the March. order. And the weather is the weather. But ultimately, those were very unique. the quarter that i'm mostfocused on is for December quarter. we have completely restructured our events platform. eventsas we talked about a lot business 40 million top line drawdown over the past three years, And that business has been positive for the past fourmonths, but most importantly going into The endof September. last year, the December backlog was tracking down 30. This year is tracking up 10. So we feel -- and it's still early and that'son like a lower base of events, but we're prettyhappy with where events is going. And if the trajectory stays, the December quarter is going tobe a proof of concept that we can execute on the initiatives we lay out. Okay, gotcha. Thanks,I appreciate it. Your next question comes from the line of Eric Hanberg from Ross Capital. Yourline is open. Please go ahead. Yes, Steve Warren, thanks for the question. I wonder if we coulddig in a little deeper on events. A while back,you talked about how you were moving salespeopleback into the facilities and there were variousinitiatives to get the local community. you know to come in and have like tasting programs andeverything. What's been going on there and how a re you seeing the results from that? Yes, so. We are moving the business forward every day. On July 1. We announced a full restructure. we went to a hybrid model where we have a split of our inbound business. between. huge companies and localized companies And then we have ourcall center. which used to be unique to individual centers is now covering you know. Party of Sun 12. so it's a very rebalanced structure wherethe team can focus on outbound and you know still early while we're seeing the fruits of the labor there where we're developing clients. He hada client this week who was going to have a party. in you know in new york and their other offices grabbed on and had parties as well. So it's sort of everybody in the company was doing the same thing. And we're really building that outbound structure. And so again, this 40 million thatwe lost over the past 3 years, I think, is veryachievable to rebuild over the next 3 years. Great, that's helpful. And then digging into a bitmore on SNA was up a good amount year over yearand sequentially. How much of that was due to promotion of the water parks? How much were -- what were the initiatives thatdidn't play out as expected?And what are some ofthe shifts that you're planning here?Yes. I mean, the biggest thing is we are releasing a new CRM in October. And so those investments have been very heavy in the June and September and they'll be heavy in the September quarter. It's the largest IT initiative the company's ever had. Sothose just flow through SGA. As today sequentially is is. is. flash them out. Thank you for yourquestion. Your next question comes from the line of Randy Konig from Jeffreys. Your line is open. Please go ahead. Thanks a lot and good morning g