NYSE$ACEL

Accel Entertainment Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Accel Entertainment reported increased revenue and net income in Q4 2022, driven by growth in video gaming locations and machine performance.

Accel Entertainment reported a strong Q4 2022, with revenue increasing by 17.1% to $99.5 million and net income rising to $7.5 million. The company's performance was driven by an increase in video gaming terminal (VGT) locations and improved revenue per VGT.

  • Q4 revenue increased 17.1% year-over-year to $99.5 million.
  • Net income for Q4 was $7.5 million, compared to a net loss in the prior year.
  • Adjusted EBITDA increased 12.4% to $25.8 million.
  • The company ended the year with 2,582 locations and 13,798 VGTs.

Headline financials

Total Revenue

$278M

Previous: $192M+44.6%
EPS (adj)

$0.24

Previous: $0.18+33.3%
Capital Expenditures

$14.4M

Previous: $11M+31.1%
Free Cash Flow

$15.3M

Previous: $19.5M-21.3%
Net Income

$7.5M

Previous: $11.5M-34.8%
Operating Income

$11.3M

Previous: $17.4M-35.1%
Gross Profit

$82.8M

Previous: $62.7M+32.0%
Cash & Equivalents

$54.3M

Previous: $199M-72.7%
Total Assets

$863M

Previous: $616M+40.0%
Stock-Based Comp

$1.88M

Previous: $1.7M+11.1%

Revenue & EPS history

Accel Entertainment · Revenue · Quarterly

$278M

Q4 2022+44.6%vs Q4 2021
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Forward guidance

Accel Entertainment expects continued growth in 2023, driven by expansion in existing and new markets. The company anticipates capital expenditures between $45 million and $55 million.

Tailwinds

  • Continued expansion in existing markets
  • Entry into new markets
  • Growth in VGT placements
  • Focus on operational efficiency
  • Strong free cash flow generation

Headwinds

  • Potential economic slowdown
  • Increased competition
  • Changes in regulations
  • Supply chain disruptions
  • Uncertainty in consumer spending

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-0.7%

Avg return

Earnings day

-4.6%

Avg return

5 days after

+1.1%

Avg return

30 days after

53%

18 / 34 earnings

Positive

+29.1%

Q2 2020

Best reaction

-19.7%

Q2 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.1%-4.8%-1.2%
Q4 2025+19.2%+3.7%-0.3%
Q3 2025-0.7%-1.5%+1.6%
Q1 2025+4.6%+6.0%+3.4%
Q4 2024-8.0%-10.9%-14.9%
Q3 2024-3.7%-3.8%+0.8%
Q2 2024+11.3%-0.7%+6.8%
Q1 2024-13.8%-13.3%-11.7%
Q4 2023+7.9%+7.7%+12.3%
Q3 2023+5.3%+3.5%-3.8%
Q2 2023+8.1%+2.8%+6.8%
Q1 2023+7.3%+3.1%+10.3%
Q4 2022+2.7%+2.8%-2.1%
Q3 2022-11.8%-11.5%-14.6%
Q2 2022-19.7%-11.8%-23.6%
Q1 2022-9.9%-16.1%-10.6%
Q4 2021+4.1%-1.9%-9.0%
Q3 2021+0.2%+2.2%+0.2%
Q2 2021+4.6%+3.0%+4.7%
Q1 2021+8.2%+10.7%+4.3%
Q4 2020-2.7%-10.2%-5.9%
Q3 2019+0.8%+7.9%+4.5%
Q3 2020+0.8%+7.9%+4.5%
Q2 2020+29.1%+27.5%+61.1%
Q1 2019-13.3%-7.9%+13.6%
Q1 2020-13.3%-7.9%+13.6%
Q4 2017-11.3%-35.6%-3.1%
Q2 2019-11.3%-35.6%-3.1%
Q4 2019-11.3%-35.6%-3.1%
Q4 2018-11.3%-35.6%-3.1%
Q3 2018+0.2%+0.3%+0.0%
Q2 2018+0.3%+0.0%-1.0%
Q1 2018-0.1%+0.4%+0.3%
Q3 2017+0.0%+0.2%+0.4%
Q2 2017
Q1 2017

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