EVRI - Everi Holdings beats Q1 top and bottom line estimates; reaffirms FY23 outlook

2023-05-10 06:18:32 ET

• Everi Holdings press release ( NYSE: EVRI ): Q1 Non-GAAP EPS of $0.43 beats by $0.19 .
• Revenue of $200.5M (+14.2% Y/Y) beats by $9.88M .
• Adjusted EBITDA, a non-GAAP financial measure, increased 3% to $92.5 million compared with $89.6 million in the 2022 first quarter.
• Free Cash Flow, a non-GAAP financial measure, was $37.1 million compared with $51.6 million in the 2022 first quarter.
• Everi today reaffirmed its full year 2023 guidance for net income expected to be in a range of $92 million to $100 million, Adjusted EPS in a range of $1.58 to $1.66 per diluted share vs. consensus of $1.04, Adjusted EBITDA in a range of $384 million to $396 million, and Free Cash Flow in a range of $150 million to $160 million. The lower end of the net income and Adjusted EPS ranges were raised to reflect the benefit of a lower expected provision for income tax, and Adjusted EPS also reflects the actual 2023 first quarter weighted average diluted shares outstanding.

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