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Jun 30, 2021
Drive Shack Q2 2021 Earnings Report
Reported operating income for the first time in three years and positive adjusted EBITDA.
Key Takeaways
Drive Shack Inc. reported total revenue of $73.9 million and operating income of $1.1 million for the second quarter of 2021. The company delivered quarterly operating income for the first time in three years and positive Adjusted EBITDA of $7.7 million.
Total revenue for the second quarter was $73.9 million compared to $32.1 million in the same period last year.
Drive Shack golf venues generated total revenue of $11.6 million in the second quarter 2021, an increase of $9.8 million compared to $1.8 million in the second quarter 2020.
American Golf generated total revenue of $62.3 million in the second quarter 2021 compared to $30.3 million in the second quarter 2020.
The Company had cash and cash equivalents of $81.4 million as of June 30, 2021.
Forward Guidance
Drive Shack Inc. is focused on the successful launch and expansion of Puttery and looks forward to a long-standing partnership with Rory McIlroy and his team as they further grow the Puttery brand in the coming years.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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