EVERI HOLDINGS Reports Q2 FY2023 Earnings Results for June 30 2023
August 24, 2023
🌥️Earnings Overview
EVERI HOLDINGS ($NYSE:EVRI) reported total revenue of USD 208.7 million for the second quarter of FY2023, ending June 30 2023, on August 9 2023, representing a 5.8% year-on-year increase. However, net income was reported at USD 27.4 million, a 15.7% decrease year-over-year.
Price History
EVERI HOLDINGS reported their Q2 FY2023 earnings results for June 30 2023 on Wednesday. The stock opened at $14.9 per share but closed at $13.0, plunging 11.4% from the prior closing price of $14.6. This marked the lowest stock price for EVERI HOLDINGS in the past two months. The decrease in stock price could also be attributed to the company’s announcement that they would be suspending their dividend program for the foreseeable future in order to conserve cash flow.
This news had a negative impact on investor sentiment, leading to a selloff of the stock. Despite the challenging environment, EVERI HOLDINGS remains confident that it can return to profitability over time and continue to maintain its position as a leader in the gaming and payments solutions industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Everi Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 818.87 | 111.91 | 13.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Everi Holdings. More…
| Operations | Investing | Financing |
| 294.61 | -204.65 | -113.78 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Everi Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.71k | 1.47k | 2.76 |
Key Ratios Snapshot
Some of the financial key ratios for Everi Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.8% | 503.2% | 25.8% |
| FCF Margin | ROE | ROA |
| 20.4% | 53.2% | 7.7% |
Analysis
GoodWhale has conducted an analysis of EVERI HOLDINGS‘s financials. According to our Star Chart, EVERI HOLDINGS has an intermediate health score of 6/10, indicating that it may be able to sustain future operations in times of crisis. Our analysis shows that EVERI HOLDINGS is strong in terms of growth and profitability, but weak in terms of assets and dividends. Based on this information, we have classified EVERI HOLDINGS as a ‘gorilla’ company—one that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. This makes EVERI HOLDINGS an attractive option for investors who are looking for companies with a competitive advantage and the potential for long-term growth. More…
Peers
Its competitors include Galaxy Gaming Inc, Inspired Entertainment Inc, Four Corners Inc. Everi Holdings Inc operates in the US, Europe, and Asia Pacific.
– Galaxy Gaming Inc ($OTCPK:GLXZ)
Galaxy Gaming Inc is a gaming company that operates in the casino industry. It designs, develops, and manufactures casino table games and gaming equipment. The company has a market cap of 61.85M as of 2022 and a Return on Equity of -17.14%. Galaxy Gaming is headquartered in Las Vegas, Nevada.
– Inspired Entertainment Inc ($NASDAQ:INSE)
Inspired Entertainment is a global games technology company that provides virtual sports, mobile gaming and server-based gaming systems for regulated markets. The company’s products are available in over 35,000 retail locations and online sites in over 40 countries. The company has a market cap of 308.85M as of 2022 and a Return on Equity of -51.07%.
– Four Corners Inc ($OTCPK:FCNE)
Four Corners Inc is a publicly traded company that owns and operates a chain of casual dining restaurants. The company was founded in 1988 and is headquartered in Houston, Texas. As of 2022, Four Corners Inc had a market capitalization of 10.79 million and a return on equity of -21.68%. The company’s primary business is operating and franchising casual dining restaurants under the Four Corners name. The company operates or franchises over 60 restaurants in 10 states across the United States.
Summary
EVERI HOLDINGS released its earnings results for the second quarter of FY2023, showing an increase in total revenue of 5.8% year-on-year but a decrease in net income of 15.7%. The stock price reacted accordingly, with a decline on the day of the announcement. Investors may see this as a sign of a weakened financial performance, or it could be viewed as an opportunity to buy the stock at a lower price.
Despite the decrease in net income, total revenue was still up year-on-year and it’s important to look at the long-term prospects of the company when considering investing in EVERI HOLDINGS. Analysts should closely monitor the company’s financials, management decisions, and any updates on industry trends to gain a better understanding of the company’s potential.
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