The following is a summary of the Accel Entertainment, Inc. (ACEL) Q1 2024 Earnings Call Transcript:
Financial Performance:
Accel Entertainment reported a Q1 revenue of $302 million, a YoY increase of 2.9%.
Adjusted EBITDA increased by 0.3% YoY to $46 million.
Despite negative same-store sales growth, new locations in Illinois and Nebraska allowed for overall revenue growth.
The company ended Q1 with $286 million in net debt and $553 million of liquidity.
Business Progress:
Accel maintains a stable cost structure amidst inflationary impacts, and sees a bright future with an active pipeline across the country.
Almost 60% of the $200 million share repurchase program is completed.
Plans for expansion in multiple markets by year-end are underway, backed by their consistent growth and strong balance sheet.
More details: Accel Entertainment IR
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