Everi Holdings reports Q1 EPS 8c, consensus 3c
Reports Q1 revenue $$123.8M, consensus $121.6M. "Our record first quarter results reflect the eleventh consecutive quarter we have achieved year over year revenue and Adjusted EBITDA growth as we again generated solid organic growth while also benefiting from initial contributions of our recent acquisition of player loyalty technology," said Everi President and CEO, Michael Rumbolz. "First quarter revenues rose 11.5% to a record $123.8 million, net income improved 28% to $5.9 million, Adjusted EBITDA rose 5.7% to a record $61.3 million and Free Cash Flow improved 80% to $21.2 million. These results reflect ongoing improvement in both of our segments including a quarterly record for FinTech revenue and FinTech Adjusted EBITDA, and a quarterly record for Games revenue, including record gaming operations revenue. Overall 2019 is off to the solid start we anticipated and as a result, we remain on track to achieve our full year expectation for Adjusted EBITDA of between $252 million to $255 million. We also continue to expect that Free Cash Flow will approximately double compared to the nearly $25 million in Free Cash Flow generated in 2018."