PlayAGS Stock Gains On Solid Preliminary Q4, FY21 Results; Seeks Debt Refinancing

PlayAGS Inc AGS reported preliminary financial results for Q4 and FY21 in conjunction with its intention to explore a refinancing of its outstanding revolving credit facility and term loan credit facilities.
The company said it expects FY21 revenues of $258.6 million - $261 million, above the consensus of $256 million.
The company expects an adjusted EBITDA of $121.65 million - $123.8 million, with the corresponding margin at 47.0% - 47.4%.
PlayAGS anticipates Q4 sales of $68.4 million - $70.8 million exceeding the consensus of $66.5 million.
The company expects Q4 adjusted EBITDA of $30.675 million - $32.825 million, versus $21.3 million last year. It expects a net loss of $(11.625) million - $(6.075) million versus $(17.24) million last year.
"Our preliminary fourth quarter 2021 financial results further reflect the operating momentum we are witnessing across all three segments of our business," said CEO David Lopez.
Price Action: AGS shares are trading higher by 9.09% at $7.68 on the last check Tuesday.