Century Casinos (CNTY) Reports Q2 Loss, Lags Revenue Estimates

Financial Performance - Century Casinos reported a quarterly loss of $1.36 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.40, marking an earnings surprise of -240% [1] - The company's revenues for the quarter ended June 2024 were $146.44 million, missing the Zacks Consensus Estimate by 5.28%, but showing an increase from $136.76 million year-over-year [2] - Over the last four quarters, Century Casinos has surpassed consensus EPS estimates only once [2] Stock Performance - Century Casinos shares have declined approximately 51.6% since the beginning of the year, contrasting with the S&P 500's gain of 9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.19 on revenues of $165.7 million, and for the current fiscal year, it is -$1.25 on revenues of $613.6 million [7] Industry Outlook - The Gaming industry, to which Century Casinos belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Century Casinos' stock performance [5]