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Benzinga
Benzinga
Business
Shivani Kumaresan

PlayAGS Stock Gains On Solid Preliminary Q4, FY21 Results; Seeks Debt Refinancing

AGS PlayAGS David Lopez NYSE
  • PlayAGS Inc (NYSE:AGS) reported preliminary financial results for Q4 and FY21 in conjunction with its intention to explore a refinancing of its outstanding revolving credit facility and term loan credit facilities.
  • The company said it expects FY21 revenues of $258.6 million - $261 million, above the consensus of $256 million.
  • The company expects an adjusted EBITDA of $121.65 million - $123.8 million, with the corresponding margin at 47.0% - 47.4%.
  • PlayAGS anticipates Q4 sales of $68.4 million - $70.8 million exceeding the consensus of $66.5 million.
  • The company expects Q4 adjusted EBITDA of $30.675 million - $32.825 million, versus $21.3 million last year. It expects a net loss of $(11.625) million - $(6.075) million versus $(17.24) million last year.
  • "Our preliminary fourth quarter 2021 financial results further reflect the operating momentum we are witnessing across all three segments of our business," said CEO David Lopez.
  • Price Action: AGS shares are trading higher by 9.09% at $7.68 on the last check Tuesday.
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