Feb 28, 2025
Accel Entertainment Reports Strong Q4 Results for 2024
Accel Entertainment (NYSE: ACEL) has impressed investors by exceeding revenue projections for the fourth quarter of 2024. The gaming company saw a year-on-year revenue growth of 6.9%, totaling $317.5 million. Furthermore, it achieved a GAAP profit of $0.41 per share, surpassing the consensus estimates provided by analysts. CEO Andy Rubenstein expressed satisfaction with the company’s record performance and emphasized strategic expansions, such as the acquisition of Toucan Gaming in Louisiana and FanDuel Sportsbook & Horse Racing. He stated, “We continue to strengthen our core and are expanding our offerings, which we believe will maintain attractive low-teens returns on capital, generate more free cash flow, and improve our trading multiples.”
Potential Challenges Amidst Impressive Growth
While Accel has historically shown strong performance, boasting a remarkable compounded annual sales growth of 23.7% over the past five years, recent data suggests a potential slowdown. The company’s revenue growth has annualized at 12.7% over the last two years, which is below its five-year average, and it is projected to witness only a 1.8% growth over the next year. This indicates that Accel may encounter challenges in sustaining demand for its products and services.
Video Gaming Terminal Sales Experience Growth
The sales of video gaming terminals have seen a notable average increase of 15.6% year-on-year over the last two years. However, the overall revenue generation has struggled to keep pace with this growth. In the latest quarter, Accel reported the sale of 26,346 terminals, showcasing its potential for expansion, even though there are mixed sentiments about profitability.
Stock Performance Following Earnings Announcement
Despite demonstrating resilience and growth potential through strategic acquisitions and market expansion, Accel’s cash flow margins have averaged a modest 8.9% over the past two years, which may limit returns to shareholders. Following the company’s earnings announcement, Accel’s stock experienced a slight decrease of 2.8%, closing at $11.41.
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