Everi Stock Gains On Upbeat Q2 Outlook

  • 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.
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Posted In: EarningsNewsGuidanceSmall CapBriefs
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