Financial Data and Key Metrics Changes - The company reported record revenue of $309 million for Q2 2024, representing a year-over-year increase of 5.7% [17] - Adjusted EBITDA for the quarter was $50 million, reflecting a year-over-year increase of 6.5% [17] - As of June 30, 2024, the company had 25,757 terminals and 4,034 locations, with year-over-year increases of 5.7% and 4.7%, respectively [17] Business Line Data and Key Metrics Changes - Revenue per location in core states: Illinois at $862 per day (up 0.5%), Montana at $612 per day (up 7.6%), Nevada at $843 per day (down 2%), and Nebraska at $255 per day (up 7.6%) [17] - The increase in Illinois, Montana, and Nebraska was driven by increased player demand, new equipment, and favorable weather [17] - The decline in Nevada was attributed to an overall increase in supply in the greater Las Vegas locals market [18] Market Data and Key Metrics Changes - The home market in Illinois experienced market-wide GGR growth of 5% year-over-year, with Accel outperforming this by growing revenues by 6% [7] - The company added almost 50 locations nationwide, with 30 in Illinois and 11 in Montana [8] Company Strategy and Development Direction - The company aims for steady state growth with low single-digit revenue growth, mid-single-digit EBITDA growth, and high single-digit free cash flow growth [11] - The primary growth levers include organic growth in Illinois, Nebraska, and Georgia, selectively owning establishments, and preparing for future opportunities in new states [11] - The acquisition of Fairmount Park for approximately $35 million in Accel stock is expected to enhance the company's local gaming capabilities and is anticipated to close in Q4 2024 [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong financial position and growth trajectory, despite trading at a low double-digit free cash flow yield [21] - The local gaming segment is viewed as an attractive growing market with opportunities for strong revenue and EBITDA growth [22] Other Important Information - Capital expenditures for Q2 were $18 million, with a projected decrease in CapEx for 2024 to between $55 million and $65 million [18] - The company is progressing in its $200 million share repurchase program, having repurchased 906,000 shares at an average price of $10.16 [19] Q&A Session Summary Question: On the M&A front, are there similar opportunities to Fairmount? - Management indicated that other opportunities resemble Fairmount but vary in scale and specifics, with the ability to take on more projects while working on Fairmount [24][26] Question: Can you discuss the Illinois gaming tax increase and TITO? - Management believes TITO will enhance player experience and potentially provide a market lift of 5% to 10%, helping to offset the tax increase [27][28] Question: Any changes in demand in Nevada? - Management noted no noticeable changes in demand, attributing the decline to supply influx [30][31] Question: How do you see the Montana portfolio evolving post-acquisition? - Management expressed excitement about growth opportunities in Montana, highlighting new software and models that have improved contracts and partnerships [32][33] Question: How should we think about cash deployment post-acquisition? - Management emphasized growth as the first priority for cash deployment, followed by returning capital to shareholders as free cash flow generation increases [34][35] Question: Will the M&A stance change after the Fairmount purchase? - Management confirmed that the M&A strategy remains aggressive, with ongoing pursuit of local gaming opportunities [41][42]

分组1 - Accel Entertainment reported quarterly earnings of $0.25 per share, exceeding the Zacks Consensus Estimate of $0.21 per share, and showing an increase from $0.23 per share a year ago, representing an earnings surprise of 19.05% [1] - The company achieved revenues of $309.41 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.37% and increasing from $292.65 million year-over-year [1] - Over the last four quarters, Accel Entertainment has consistently surpassed consensus EPS and revenue estimates [1] 分组2 - The stock has underperformed the market with a gain of about 6.7% since the beginning of the year, compared to the S&P 500's gain of 14.5% [2] - The current consensus EPS estimate for the upcoming quarter is $0.18 on revenues of $296.13 million, and for the current fiscal year, it is $0.81 on revenues of $1.2 billion [4] - The Gaming industry, to which Accel Entertainment belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5]

Second Quarter 2024 Earnings Presentation July 2024 Important Information Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, contained in this presentation are forward-looking statements, including, but not limited to, any statements regarding our estimates of number of gaming t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 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 001-38136 Accel Entertainment, Inc. (Exact Name of Registrant as specified in its charter) Delaware 98-1350261 (State or other ju ...

Financial Performance - The company reported record revenues of $309.4 million for Q2 2024, reflecting a 5.7% increase from $292.6 million in Q2 2023[2] - Net income for Q2 2024 was $14.6 million, a significant increase of 46.1% compared to $10.0 million in Q2 2023[2] - Adjusted EBITDA reached a record $49.7 million for Q2 2024, up 6.5% from $46.6 million in Q2 2023[2] - Operating income for the three months ended June 30, 2024, was $22,683,000, down from $29,164,000 in the same period of 2023, indicating a decrease of 22.2%[23] - Net income for the three months ended June 30, 2024, was $14,586,000, compared to $9,983,000 for the same period in 2023, representing a significant increase of 46.4%[23] - Basic earnings per share for the three months ended June 30, 2024, were $0.17, up from $0.12 in the same period of 2023, marking a growth of 41.7%[23] - Total operating expenses increased to $286,730,000 for the three months ended June 30, 2024, from $263,483,000 in the same period of 2023, an increase of 8.8%[23] Growth and Expansion - Accel Entertainment ended Q2 2024 with 4,034 locations, a 4.7% increase compared to Q2 2023[1] - The total number of gaming terminals increased to 25,757, marking a 5.7% rise from 24,368 in Q2 2023[6] - Accel anticipates continued growth in gaming terminals and locations, with a focus on expanding into new jurisdictions[17] - The company announced the acquisition of Fairmount Holdings, expected to close in Q4 2024, enhancing its local gaming offerings[1] - The company is in the process of acquiring Fairmount Holdings, Inc., which may impact future operations and market presence[17] Debt and Liabilities - Net debt at the end of Q2 2024 was $311 million, a 9% increase from $284.8 million in Q2 2023[1] - Long-term liabilities increased to $635,505,000, compared to $604,839,000, indicating a rise of approximately 5.1%[26] - Total current liabilities decreased to $105,755,000 from $109,650,000, a reduction of about 3.6%[26] Assets and Equity - Total assets increased to $950,348,000 as of June 30, 2024, up from $912,893,000 at December 31, 2023, representing a growth of approximately 4.1%[26] - Total current assets rose to $322,201,000, compared to $312,594,000 at the end of 2023, marking an increase of about 3.0%[26] - Stockholders' equity increased to $209,088,000, up from $198,404,000, reflecting a growth of approximately 5.3%[26] - Cash and cash equivalents decreased slightly to $254,923,000 from $261,611,000, a decline of about 2.6%[26] - Accounts receivable, net increased to $15,149,000 from $13,467,000, showing a growth of about 12.5%[26] - Accumulated earnings rose significantly to $121,486,000 from $99,484,000, an increase of approximately 22.1%[26] - Property and equipment, net increased to $276,477,000 from $260,813,000, reflecting a growth of approximately 6.0%[26] - Goodwill remained relatively stable, increasing slightly to $101,859,000 from $101,554,000[26] Market Performance - The Illinois market generated $227.1 million in net revenues for Q2 2024, an increase of 5.3% from $215.9 million in Q2 2023[4] - Net revenues for the three months ended June 30, 2024, reached $309,413,000, a 5.3% increase from $292,647,000 in the same period of 2023[23] - Net gaming revenues were $293,240,000 for the three months ended June 30, 2024, compared to $277,551,000 for the same period in 2023, reflecting a growth of 5.6%[23] Operational Insights - Adjusted EBITDA is a key metric for monitoring ongoing core operations, enhancing understanding of profitability trends[21] - The company reported a decrease in operating income to $22.7 million for Q2 2024, down from $29.2 million in Q2 2023[2] - Accel's dependence on relationships with key manufacturers and developers is critical for obtaining gaming terminals and related supplies[19]

The market expects Accel Entertainment (ACEL) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be rel ...

Accel Entertainment, Inc. (ACEL) inked a deal to acquire Fairmount Holdings, Inc, the owner of FanDuel Sportsbook & Horse Racing. The acquisition is valued at approximately $35 million.    This strategic move boosts Accel's presence in the Collinsville, IL gaming market. This builds on its strong distributed, route-based platform with an advantaged, single-site local gaming asset. The acquisition includes the horse racing venue in greater St. Louis. ACEL will also gain an Organization Gaming License to offe ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and t ...

Accel Entertainment, Inc. (NYSE:ACEL) Q1 2024 Earnings Conference Call May 8, 2024 5:30 PM ET Company Participants Derek Harmer - General Counsel and CCO Andrew Rubenstein - President and CEO Mathew Ellis - CFO Conference Call Participants Chad Beynon - Macquarie Steve Pizzella - Deutsche Bank Operator Hello everyone. Thank you for attending today's Accel Entertainment Q1 2024 Earnings Call. My name is Sierra and I will be your moderator for today. All lines will be muted during the presentation portion of ...

A downtrend has been apparent in Accel Entertainment (ACEL) lately with too much selling pressure. The stock has declined 11.7% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators ...