Everi Holdings Inc. (EVRI) Tops Q1 EPS by 5c

Everi Holdings Inc. (NYSE: EVRI) reported Q1 EPS of $0.08, $0.05 better than the analyst estimate of $0.03. Revenue for the quarter came in at $123.8 million versus the consensus estimate of $121.6 million.

2019 Outlook

Everi reiterated its 2019 forecast initially provided on March 12, 2019. The Company expects to generate growth in revenue, Adjusted EBITDA and Free Cash Flow in 2019. Adjusted EBITDA is expected to rise to between $252 million to $255 million, with broad-based growth across the Company’s operating segments including expectations for:

• An increase in Gaming unit sales from the 4,513 units sold in 2018;
• Growth in gaming operations driven by growth in both DWPU and an increase in the number of units in the year-end installed base;
• Increasing Interactive revenue;
• Higher cash access service revenue in the FinTech segment;
• An increase in sales of fully integrated kiosks and other FinTech equipment; and,
• An increase in information services and other revenue driven by expected growth in revenue related to the servicing of FinTech equipment, higher compliance revenue and software sales, maintenance and professional services from the recently acquired player loyalty technology.

The Company expects capital expenditures and placement fees for 2019 will be between $122 million and $125 million, which includes approximately $3 million to $5 million related to the player loyalty acquisition.

For a reconciliation of projected net income to projected Adjusted EBITDA, see the Reconciliation of Projected Net Income to Projected EBITDA, Projected Adjusted EBITDA and Free Cash Flow provided at the end of this release.

For earnings history and earnings-related data on Everi Holdings Inc. (EVRI) click here.

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