Accel Entertainment Q2 Revenue Beats by $12M, Illinois Drives Growth
ACEL sits 27% above its 52-week low of $9.55.
Summary
Accel Entertainment posted Q2 revenue of $368.1M, beating the $356.5M consensus, with Adjusted EBITDA of $58.9M also ahead of estimates. Net income surged 72% YoY to $12.5M, and the company bought back 500K shares for $5.6M. Illinois performance was a key driver, with revenue ex-Fairmount Park up 6% on improved hold-per-day and customer mix, while Fairmount Park's table games launch delivered its highest quarterly gross profit since acquisition. Developing markets Nebraska and Georgia saw significant Adjusted EBITDA growth, and management flagged Chicago terminal approvals as a near-term catalyst. This follows the 8-K filed earlier today with the same top-line figures, but adds analyst beats, segment detail, and forward-looking commentary. The stock trades at 13x forward earnings, below its three-month average of 14x, with a median analyst target of $16 — about 33% upside from the pre-release close.
At the time of this announcement, ACEL was trading at $12.16 on NYSE in the Trade & Services sector, with a market capitalization of approximately $989.7M. The 52-week trading range was $9.55 to $14.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.