Century Casinos (CNTY) Q3 Earnings Miss Estimates, Stock Dips
Century Casinos, Inc. CNTY reported third-quarter 2023 results, wherein earnings missed the Zacks Consensus Estimate but revenues met the same. CNTY’s top line increased year over year. Following the results, the stock fell 1.8% in the after-hour trading session on Nov 9.
The company reported an adjusted loss per share of 47 cents. The Zacks Consensus Estimate of earnings was pegged at 15 cents. In the prior-year quarter, it reported adjusted earnings of 9 cents.
Quarterly revenues totaled $161.2 million, which came in line with the Zacks Consensus Estimate. The metric jumped 43% year over year.
Segmental Discussion
Century Casinos reports operating results under four segments — Canada, United States, Poland, and Corporate and Other.
Canada: Segmental revenues amounted to $20.9 million, up 4% from the prior-year period. However, adjusted EBITDA improved 7% to $4.7 million.
United States: Revenues surged 65% to $116.9 million. Adjusted EBITDA rose 44% to $30.5 million.
Poland: Revenues from this segment climbed 8% year over year to $23.4 million. Adjusted EBITDA dropped 41% to $1.9 million.
Century Casinos, Inc. Price, Consensus and EPS Surprise
Century Casinos, Inc. price-consensus-eps-surprise-chart | Century Casinos, Inc. Quote
Corporate and Other: The company did not report any revenues from this segment. Adjusted EBITDA came in at ($3.8) million compared with ($1.2) million in the prior-year quarter.
Other Financial Details
Cash and cash equivalents at the end of third quarter declined to $189 million compared with $101.8 million as of Dec 31, 2022. Outstanding debt as of Sep 30, 2023, decreased to $347.9 million from $366.4 million as of Dec 31, 2022.
Zacks Rank
Century Casinos carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Century Casinos, Inc. (CNTY) : Free Stock Analysis Report
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