Century Casinos, Inc. CNTY reported mixed fourth-quarter 2018 results, wherein earnings missed the Zacks Consensus Estimate but revenues surpassed the same. However, both the top and bottom line increased year over year owing to robust performance of all its four reportable segments.
Adjusted earnings came in at 2 cents per share, missing the Zacks Consensus Estimate of 6 cents. In the prior-year quarter, the company had reported earnings per share of a penny. Revenues in the fourth quarter totaled $45.1 million, which outpaced the consensus mark of $43 million and also increased 15% year over year.
Century Casinos reports operating results under four segments - Canada, United States, Poland and Corporate and Other.
Canada : Revenues at this segment amounted to $15.7 million, up 3% from the prior-year period. Strong performance of Century Casino & Hotel Edmonton and Century Casino St. Albert led to the uptick. Also, adjusted EBITDA increased 1% to $5 million.
United States : Revenues at this segment increased 4% to $7.9 million. Backed by robust economy and tourist business, the company expects the segment to perform impressively in the quarters ahead. However, the segment's adjusted EBITDA declined 3% to $1.6 million.
Poland : Revenues at the segment jumped 27% year over year to $19.5 million driven by robust business volumes and demand for casino gaming. Moreover, adjusted EBITDA increased 76% to $1.7 million.
Corporate and Other : Revenues at this segment surged 106% to nearly $2 million. However, adjusted EBITDA came in at a loss of $2.5 million compared with a loss of $2.1 million in the year-ago period.
Century Casinos, Inc. Price, Consensus and EPS Surprise
Century Casinos, Inc. Price, Consensus and EPS Surprise | Century Casinos, Inc. Quote
Other Financial Details
Cash and cash equivalents at the end of the fourth quarter declined to $45.6 million compared with $74.7 million at the end of Dec 31, 2017. Outstanding debt as of Dec 31, 2018, increased to $59.5 million from $56.7 million at the end of Dec 31, 2017.
Zacks Rank & Stocks to Conside r
Century Casinos has a Zacks Rank #4 (Sell).
Better-ranked stocks in the same space include Melco Resorts & Entertainment Limited MLCO , PlayAGS, Inc. AGS and Zynga Inc. ZNGA , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Melco Resorts & Entertainment, PlayAGS, and Zynga have an impressive long-term earnings growth rate of 18.7%, 12%, and 22.5%, respectively.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 - 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Zynga Inc. (ZNGA): Free Stock Analysis Report Century Casinos, Inc. (CNTY): Free Stock Analysis Report Melco Resorts & Entertainment Limited (MLCO): Free Stock Analysis Report PlayAGS, Inc. (AGS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research