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Century Casinos (CNTY) Q4 Earnings Lag Estimates, Fall Y/Y
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Century Casinos, Inc. (CNTY - Free Report) posted mixed fourth-quarter 2023 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. The top line increased year over year while the bottom line fell from the prior-year quarter’s figure.
During the quarter, the company reported unanticipated licensing delays in Poland, resulting in the temporary closure of three casinos and subsequently impacting earnings from operations in that region. Despite the setbacks, an optimistic outlook was conveyed, with the assurance that all three licenses have been secured. One casino has reopened as of February 2024. Plans are in place for the remaining two to resume operations by the third quarter of 2024, with one relocating to a new site.
Looking forward to 2025, management expresses confidence in the seamless integration of the newly-acquired casinos into the company. CNTY anticipates a more stable operational environment, expecting no significant disruptions attributable to construction or renovation activities at the properties.
Earnings & Revenues Details
During the fourth quarter, the company reported a loss per share of 36 cents, wider than the Zacks Consensus Estimate of a loss of 35 cents. The company reported a loss per share of 14 cents in the prior-year quarter.
Century Casinos, Inc. Price, Consensus and EPS Surprise
Quarterly revenues of $143.8 million beat the Zacks Consensus Estimate of $143 million by 0.8%. The top line increased 39% on a year-over-year basis. The upside was driven by solid contributions from the United States and Canada segments.
Operating Highlights
During the fourth quarter, total operating costs and expenses came in at $131.2 million compared with $91.1 million reported in the prior-year quarter.
Adjusted EBITDAR in the fourth quarter came in at $25.4 million compared with $21.7 million reported in the prior-year quarter.
Net loss during the quarter came in at $10.8 million compared with $4 million reported in the prior-year quarter.
Balance Sheet
As of Dec 31, 2023, cash and cash equivalents totaled $171.3 million compared with $101.8 million on Dec 31, 2022.
The company had $346.8 million in outstanding debt as of Dec 31, 2023, compared with $366.4 million on Dec 31, 2022.
2023 Highlights
Total revenues in 2023 amounted to $550.2 million compared with $430.5 million in 2022.
Adjusted EBITDAR in 2023 came in at $114 million compared with $103.3 million in 2022.
In 2023, loss per share came in at 93 cents against earnings of 25 cents reported in the previous year.
Zacks Rank & Key Picks
Century Casinos currently has a Zacks Rank #4 (Sell).
Hyatt Hotels Corporation (H - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 17.8% on average. Shares of H have increased 45.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for H’s 2024 sales and EPS indicates a rise of 2.9% and 30.1%, respectively, from the year-ago levels.
Trip.com Group Limited (TCOM - Free Report) currently flaunts a Zacks Rank #1. TCOM has a trailing four-quarter earnings surprise of 53.1%, on average. Shares of TCOM have gained 17.3% in the past year.
The Zacks Consensus Estimate for TCOM’s 2024 sales and EPS indicates a rise of 18.2% and 1.8%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) carries a Zacks Rank #2 (Buy). RCL has a trailing four-quarter earnings surprise of 26.4% on average. Shares of RCL have surged 98.4% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) indicates a rise of 14.7% and 47.9%, respectively, from the year-ago levels.
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Century Casinos (CNTY) Q4 Earnings Lag Estimates, Fall Y/Y
Century Casinos, Inc. (CNTY - Free Report) posted mixed fourth-quarter 2023 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. The top line increased year over year while the bottom line fell from the prior-year quarter’s figure.
During the quarter, the company reported unanticipated licensing delays in Poland, resulting in the temporary closure of three casinos and subsequently impacting earnings from operations in that region. Despite the setbacks, an optimistic outlook was conveyed, with the assurance that all three licenses have been secured. One casino has reopened as of February 2024. Plans are in place for the remaining two to resume operations by the third quarter of 2024, with one relocating to a new site.
Looking forward to 2025, management expresses confidence in the seamless integration of the newly-acquired casinos into the company. CNTY anticipates a more stable operational environment, expecting no significant disruptions attributable to construction or renovation activities at the properties.
Earnings & Revenues Details
During the fourth quarter, the company reported a loss per share of 36 cents, wider than the Zacks Consensus Estimate of a loss of 35 cents. The company reported a loss per share of 14 cents in the prior-year quarter.
Century Casinos, Inc. Price, Consensus and EPS Surprise
Century Casinos, Inc. price-consensus-eps-surprise-chart | Century Casinos, Inc. Quote
Quarterly revenues of $143.8 million beat the Zacks Consensus Estimate of $143 million by 0.8%. The top line increased 39% on a year-over-year basis. The upside was driven by solid contributions from the United States and Canada segments.
Operating Highlights
During the fourth quarter, total operating costs and expenses came in at $131.2 million compared with $91.1 million reported in the prior-year quarter.
Adjusted EBITDAR in the fourth quarter came in at $25.4 million compared with $21.7 million reported in the prior-year quarter.
Net loss during the quarter came in at $10.8 million compared with $4 million reported in the prior-year quarter.
Balance Sheet
As of Dec 31, 2023, cash and cash equivalents totaled $171.3 million compared with $101.8 million on Dec 31, 2022.
The company had $346.8 million in outstanding debt as of Dec 31, 2023, compared with $366.4 million on Dec 31, 2022.
2023 Highlights
Total revenues in 2023 amounted to $550.2 million compared with $430.5 million in 2022.
Adjusted EBITDAR in 2023 came in at $114 million compared with $103.3 million in 2022.
In 2023, loss per share came in at 93 cents against earnings of 25 cents reported in the previous year.
Zacks Rank & Key Picks
Century Casinos currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Zacks Consumer Discretionary sector are:
Hyatt Hotels Corporation (H - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 17.8% on average. Shares of H have increased 45.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for H’s 2024 sales and EPS indicates a rise of 2.9% and 30.1%, respectively, from the year-ago levels.
Trip.com Group Limited (TCOM - Free Report) currently flaunts a Zacks Rank #1. TCOM has a trailing four-quarter earnings surprise of 53.1%, on average. Shares of TCOM have gained 17.3% in the past year.
The Zacks Consensus Estimate for TCOM’s 2024 sales and EPS indicates a rise of 18.2% and 1.8%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) carries a Zacks Rank #2 (Buy). RCL has a trailing four-quarter earnings surprise of 26.4% on average. Shares of RCL have surged 98.4% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and earnings per share (EPS) indicates a rise of 14.7% and 47.9%, respectively, from the year-ago levels.