Scientific Games (SGMS) Misses Q1 EPS, Revs Beat

Scientific Games (NASDAQ: SGMS) reported Q1 EPS of ($0.26), which may not compare to the analyst estimate of ($0.04). Revenue for the quarter came in at $837 million versus the consensus estimate of $832.27 million.

Barry Cottle, President and Chief Executive Officer of Scientific Games, said, "We are incredibly proud that we have continued to build on our momentum and are looking forward to the year ahead. We are focused on effectively operating our businesses, reducing costs and building upon the strong foundation for profitable growth that we see today. Last week, we successfully took SciPlay public as a new company, which accelerates our ability to pay down debt. All of these actions support our steadfast commitment to smartly grow our business, drive free cash flow and create meaningful value for our stakeholders."

Michael Quartieri, Chief Financial Officer of Scientific Games, added, "This quarter, we paid down $145 million in debt and completed a major refinancing that lowered our borrowing costs and extended our debt maturities. As a result of the SciPlay IPO, we expect to continue our deleveraging path and the efficient deployment of our resources to generate the returns needed to enhance our free cash flow."

For earnings history and earnings-related data on Scientific Games (SGMS) click here.

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