Everi (EVRI) Reports Q1: Everything You Need To Know Ahead Of Earnings

Casino gaming technology company Everi (NYSE:EVRI) will be announcing earnings results tomorrow before market open. Here's what to look for.

Everi missed analysts' revenue expectations by 3.1% last quarter, reporting revenues of $192 million, down 6.5% year on year. It was a weak quarter for the company, with a miss of analysts' revenue estimates.

Is Everi a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Everi's revenue to decline 5.8% year on year to $188.8 million, a reversal from the 14.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 per share.

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 5 downward revisions over the last 30 days. Everi has missed Wall Street's revenue estimates twice over the last two years.

Looking at Everi's peers in the gaming solutions segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 33.9%, beating analysts' expectations by 9.8%, and Churchill Downs reported revenues up 5.6%, topping estimates by 4.4%. Rush Street Interactive traded up 18% following the results while Churchill Downs was also up 4.5%.

Read our full analysis of Rush Street Interactive's results here and Churchill Downs's results here.

Investors in the gaming solutions segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. Everi is down 12.8% during the same time and is heading into earnings with an average analyst price target of $12.6 (compared to the current share price of $8.24).

Today’s young investors won’t have read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.