Everi Stock Gains On Upbeat Q2 Outlook

Loading...
Loading...
  • Casino gaming content provider Everi Holdings Inc EVRI has announced expected results for the second quarter.
  • Everi also plans to refinance its $35 million revolving credit facility due 2022 and $820 million term loan facility due 2024, prepay in full its $125 million incremental term loan facility due 2024 and redeem the $285.4 million of Unsecured Notes due 2025.
  • The Company expects to have $1.0 billion of total outstanding debt and have a new $125 million revolving credit facility after refinancing its $1.15 billion debt.
  • Everi sees Q2 FY21 revenue between $167 million to $172 million, up 25% year-on-year from pre-pandemic Q2 FY19.
  • It expects EPS of $0.31-$0.34, a more than a fourfold increase compared to $0.07 per share in Q3 FY19.
  • It sees adjusted EBITDA of $87 million to $91 million, about a 38.8% increase Y/Y from FY19.
  • Free Cash Flow is expected to be $32 million to $36 million.
  • Everi’s cash and cash equivalents stood at $360.8 million as of May 31, 2021.
  • “Both our Games and FinTech segments are performing significantly above pre-pandemic periods, driving substantial improvements in our total revenue, net income, Adjusted EBITDA, and Free Cash Flow,” said Michael Rumbolz, Chief Executive Officer.
  • Price action: EVRI shares are trading higher by 4.57% at $22.18 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...