Drive Shack Stock Gains As Q4 Results Top Estimates

• Drive Shack Inc (NYSE:DS) reported fourth-quarter FY21 sales growth of 17% year-on-year, to $70.53 million, beating the consensus of $69.26 million.
• Revenue from golf operations rose 4.7% Y/Y, and sales of food and beverages jumped 105% Y/Y.
• Operating expenses rose 23.5% Y/Y to $57 million. The operating loss for the quarter was $(6.4) million versus a loss of $(3.6) million last year.
• The company held $61.8 million in cash and equivalents as of December 31, 2021.
• It reported an Adjusted EBITDA of $2.5 million, versus $5.3 million last year.
• EPS loss of $(0.11) beat the analyst consensus of $(0.13).
• The company's board declared dividends on the company's preferred stock for the period beginning February 1, 2022, and ending April 30, 2022.
• The dividends are payable on May 2, 2022, to holders of record of preferred stock on April 1, 2022.
• Price Action: DS shares are trading higher by 7.14% at $1.50 in pre-market on Friday.