Everi Now Expects FY24 Adjusted EBITDA To Be Down From Last Year, Primarily Reflecting Ongoing Near-term Challenges That Are Impacting Games Segment
Portfolio Pulse from Benzinga Newsdesk
Everi Holdings Inc. (EVRI) forecasts a decrease in FY24 Adjusted EBITDA, attributing the decline to challenges in its Games segment. The FinTech segment is expected to remain stable in Q2 and achieve growth in the latter half of the year. Free Cash Flow is anticipated to decrease from 2023, with capital expenditures and cash interest remaining consistent, and cash taxes estimated between $15 million to $20 million.
May 08, 2024 | 10:05 am
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Everi Holdings Inc. expects a decrease in FY24 Adjusted EBITDA due to challenges in its Games segment, with stable performance in its FinTech segment and a projected decrease in Free Cash Flow.
The forecasted decrease in Adjusted EBITDA and Free Cash Flow for FY24 directly impacts Everi's financial health and investor sentiment, likely leading to a negative short-term impact on EVRI's stock price. The stability in the FinTech segment and consistent capital expenditures and cash interest may provide some offsetting positive aspects, but the overall negative outlook predominates.
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