Coronavirus Crisis to Hurt Everi (EVRI) Q1 Earnings & Revenues
Everi Holdings Inc. EVRI is scheduled to report first-quarter 2020 results on Jun 2, after the bell.
Shares of the company have declined a massive 54%, year to date, compared with the 28.6% decline of the industry it belongs to.
Results to Reflect Adverse Impact of the Pandemic
Everi’s financial performance started getting adversely impacted by the coronavirus pandemic, mainly in the third month of the first quarter as the gaming industry came to a complete shutdown across North America.
Post the closure of facilities, the company’s revenues and earnings came down to near zero, with limited visibility about when the industry will reopen. The massively-hit and highly uncertain business environment made forecasting difficult and therefore, Everi withdrew its 2020 guidance.
Estimates Indicate Year-over-Year Top- and Bottom-Line Declines
The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $123.5 million, indicating a year-over-year decline of 0.2%. In fourth-quarter 2019, revenues of $145.2 million increased 21.5% year over year.
The consensus estimate for Everi’s bottom line is pegged at a loss of 3 cents for the to-be-reported quarter, suggesting a significant decline from the earnings of 8 cents recorded in the year-ago quarter. In fourth-quarter 2019, earnings of 2 cents per share increased from the loss of 4 cents per share incurred a year ago.
Everi currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Q1 Performance of Some Other Business Services Companies
S&P Global Inc.’s SPGI first-quarter 2020 adjusted earnings per share of $2.73 beat the consensus mark by 15.7% and improved 29.4% year over year on revenue growth, benefits of productivity initiatives and reduced business travel. The stock currently carries a Zacks Rank #3.
IQVIA Holdings Inc.’s IQV adjusted earnings per share of $1.50 beat the consensus mark by 1.4% but decreased 1.9% on a year-over-year basis for the March-end quarter. The reported figure came in within the guided range of $1.46-$1.51. The stock currently carries a Zacks Rank #3.
Insperity, Inc.’s NSP adjusted earnings of $1.70 per share beat the consensus mark by 5.6% but decreased 14.1% year over year for the January-March period. The reported figure matched the higher end of the guided range of $1.61-$1.70. The stock currently carries a Zacks Rank of 3.
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