NYSE$ACEL

Accel Entertainment Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Accel Entertainment reported Q4 2025 results for its distributed gaming terminal operations.

Accel Entertainment reported fourth-quarter and full-year 2025 results for its gaming terminal operations across Illinois and other states, including net revenues, adjusted EBITDA, and location count.

  • Distributed gaming terminal operator.
  • Location-based recurring revenue model.
  • Q4 earnings press release with FY2025 metrics.
  • Regulatory environment in Illinois key.
  • Capital returns and deleveraging.

Headline financials

Total Revenue

$341M

Previous: $318M+7.5%
EPS (adj)

$0.60

Previous: $0.42+42.9%
Total Locations

4.5K

Previous: 4.4K+2.2%
Total Gaming Terminals

27.9K

Previous: 27.2K+2.9%
Illinois Hold-per-day

$905.00

Previous: $868.00+4.3%
Montana Hold-per-day

$621.00

Previous: $614.00+1.1%
Nevada Hold-per-day

$731.00

Previous: $786.00-7.0%
Louisiana Hold-per-day

$1.01K

Previous: $979.00+3.3%
Nebraska Hold-per-day

$348.00

Previous: $253.00+37.5%
Georgia Hold-per-day

$155.00

Previous: $142.00+9.2%
Adjusted EBITDA

$56.3M

Previous: $47.4M+18.9%
Net Income

$16.1M

Previous: $8.39M+91.7%
Operating Income

$29.7M

Previous: $20.8M+42.6%

Revenue & EPS history

Accel Entertainment · Revenue · Quarterly

$341M

Q4 2025+7.5%vs Q4 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Forward guidance

2026 outlook on terminal deployments, same-store revenue, and legislative environment.

Tailwinds

  • Recurring location-based cash flows.
  • Consolidation opportunity in fragmented TAM.
  • High incremental margins on new locations.

Headwinds

  • Regulatory changes in key states.
  • Local gaming tax increases possible.
  • Consumer discretionary entertainment spend risk.

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 2025

Historical avgQ4 2025

-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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