LAS VEGAS, April 24, 2024 (GLOBE NEWSWIRE) -- PlayAGS, Incorporated (NYSE:AGS) ("AGS" or the "Company") today announced it will release its financial results for the first quarter ended March 31, 2024, after the market close on Thursday, May 9, 2024. The Company will host an investor conference call and live webcast the same day at 5 p.m. EDT to further discuss its first quarter financial performance. The Company encourages participants to pre-register for the conference call by using the following link: AG ...

LAS VEGAS, April 03, 2024 (GLOBE NEWSWIRE) -- AGS (NYSE:AGS, the Company", ))), a global gaming supplier of high-performing slot, table, and interactive products, steps into a new vertical as it unveils its first mechanical reel cabinet among a diverse lineup of new products at the 2024 Indian Gaming Association ("IGA") trade show in Anaheim, CA. AGS is set to sizzle with a stunning array of new products, from mesmerizing slot hardware and cutting-edge core and premium games to its ultra-reliable card shuff ...

PlayAGS, Inc. (AGS) reported mixed fourth-quarter 2023 results, delivering breakeven earnings that missed the Zacks Consensus Estimate. Quarterly revenues surpassed the consensus mark. The top line increased year over year, while the bottom line declined from the prior-year quarter’s figure.Following the announcement, the company’s shares dropped 0.3% during the after-hours trading session on Mar 5.Earnings and RevenuesPlayAGS reported breakeven earnings missing the Zacks Consensus Estimate of 2 cents. In t ...

PlayAGS, Inc. (NYSE:AGS) Q4 2023 Earnings Conference Call March 5, 2024 5:00 PM ET Company Participants Brad Boyer - SVP, IR David Lopez - CEO Kimo Akiona - CFO Conference Call Participants Barry Jonas - Truist David Katz - Jefferies Jeff Stantial - Stifel Aaron Lee - Macquarie Jordan Bender - JMP Securities Operator Hello, everyone. Thank you for attending today's PlayAGS Fourth Quarter and Full Year 2023 Earnings Call. My name is Sierra, and I'll be your moderator for today. All lines will be muted during ...

For the quarter ended December 2023, PlayAGS (AGS) reported revenue of $94.15 million, up 15.2% over the same period last year. EPS came in at $0.00, compared to $0.06 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $93.3 million, representing a surprise of +0.91%. The company delivered an EPS surprise of -100.00%, with the consensus EPS estimate being $0.02.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how th ...

PlayAGS (AGS) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.02. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this gaming industry supplier would post earnings of $0.01 per share when it actually produced break-even earnings, delivering a surprise of -100%.Over the last four quarters, the company has sur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to . Commission file number 001-38357 PLAYAGS, INC. (Exact name of registrant as specified in its charter) Nevada 46-3698600 (State or other jurisdiction of incorp ...

PlayAGS, Inc. (AGS) is scheduled to report fourth-quarter 2023 results on Mar 5 after market close. In the last reported quarter, the company delivered an earnings miss of 100%.How Are Estimates Placed?The Zacks Consensus Estimate for fourth-quarter adjusted earnings is pegged at 2 cents per share, indicating a decline of 66.7% from 6 cents in the year-ago quarter.For revenues, the consensus mark is pegged at $93.3 million. The metric suggests an increase of 14.1% from the year-ago quarter’s figure. Let’s t ...

Financial Performance - Total revenue increased 15% year-over-year to a record $94.2 million, marking the eleventh consecutive quarter of double-digit growth [4]. - Total revenues for Q4 2023 reached $94.151 million, a 15.2% increase from $81.736 million in Q4 2022 [49]. - Total Adjusted EBITDA advanced to a record $42.8 million, with a margin of 45.4%, surpassing the 45% level for the first time since Q4 2022 [8]. - Total Adjusted EBITDA for Q4 2023 was $42,760,000, reflecting a 14.7% increase from $37,280,000 in Q4 2022 [49]. - Income from operations increased 19% year-over-year to $16.0 million, while net income totaled $67 thousand [5]. - Net income for the year ended December 31, 2023, was $428,000, a significant improvement from a net loss of $8,035,000 in 2022 [41]. - Gaming operations revenue was $59.596 million, up from $57.406 million year-over-year, representing a 3.8% growth [39]. - Free cash flow totaled $11.0 million, up more than 45% compared to the prior year period, marking three consecutive quarters of over $10 million in free cash flow [7]. - Free Cash Flow for the year ended December 31, 2023, was $27,359,000, compared to $10,338,000 in 2022, indicating a strong cash generation capability [57]. Sales and Revenue Growth - Global EGM sales reached a record 1,519 units, up over 30% year-over-year for the third straight quarter [5]. - Equipment sales revenue increased more than 40% year-over-year to a record $34.6 million, driven by strong growth in EGM and Table Products [8]. - Interactive revenue grew more than 30% year-over-year to a record $3.4 million, up 8% versus Q3 2023 [5]. - Total Table Products revenue increased 24% year-over-year to $4.8 million, with gaming operations revenue accounting for over 80% of segment-level revenue [20]. - The company anticipates continued growth in market share and revenue, driven by new product developments and strategic partnerships [35]. Debt and Leverage - Net leverage fell to 3.2x at quarter end, with a target of 2.75x to 3.00x by year-end 2024 [5]. - Total net debt was $515.8 million as of December 31, 2023, with a net debt leverage ratio of 3.2 times, down from 3.8 times in the previous year [25]. - The total net debt leverage ratio improved to 3.2 in December 2023, down from 3.8 in December 2022 [53]. - The Company anticipates exiting 2024 with a total net debt leverage ratio between 2.75 times and 3.00 times, supported by strong performance and operational efficiency [29]. Cash and Liquidity - The Company had an available cash balance of $50.9 million and $40.0 million of availability under its undrawn revolving credit facility, totaling over $90 million in liquidity [24]. - Cash, cash equivalents, and restricted cash at the end of the period increased to $51,180,000 from $37,911,000 at the beginning of the period [41]. Assets and Liabilities - Total assets as of December 31, 2023, were $680.338 million, slightly down from $684.751 million in 2022 [38]. - Total liabilities decreased to $612.671 million in 2023 from $635.390 million in 2022, reflecting a reduction of 3.6% [38]. - Stockholders' equity increased to $67.667 million in 2023, up from $49.361 million in 2022, indicating a growth of 37.1% [38]. Operational Efficiency - The company reported a significant increase in interest expense, net of interest income, which rose by 26.1% to $14,932,000 in Q4 2023 [47]. - Research and development expenses for the full year 2023 were $42.385 million, compared to $39.628 million in 2022, showing an increase of 6.9% [39]. - The Company expects full year 2024 capital expenditures to be in the range of $65 million to $70 million, with growth capital expenditures accounting for approximately 60% of total expenditures [26]. - The international EGM installed base reached 6,126 units at December 31, 2023, with a quarterly increase of 43 units [16].

Core Insights - Wall Street analysts anticipate PlayAGS (AGS) to report quarterly earnings of $0.02 per share, reflecting a year-over-year decline of 66.7% while revenues are expected to reach $93.3 million, an increase of 14.1% from the previous year [1] - The consensus EPS estimate has been revised upward by 25% over the past 30 days, indicating a reassessment of initial projections by analysts [1] - Changes in earnings estimates are critical for predicting investor reactions to the stock, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock price performance [1] Revenue and Key Metrics - Analysts project 'Revenues- EGM' to be approximately $85.70 million, representing a year-over-year increase of 13.8% [2] - The estimate for 'Revenues- Table Products' is expected to be $4.65 million, indicating a year-over-year growth of 19.5% [2] - 'Adjusted EBITDA- EGM' is forecasted to be $38.50 million, up from $34.41 million reported in the same quarter last year [2] Stock Performance - PlayAGS shares have increased by 6.4% over the past month, outperforming the Zacks S&P 500 composite, which rose by 3.9% [3] - With a Zacks Rank of 3 (Hold), AGS is expected to closely follow overall market performance in the near term [3]