Pollard Banknote Q2 revenue misses estimates
Overview
Pollard Banknote Q2 revenue up 3.6% yr/yr, misses analyst expectations
Adjusted EBITDA down 9.5%, missing estimates, due to timing of ticket orders
Co completed acquisition of Pacific Gaming, boosting charitable gaming offerings
Outlook
Pollard Banknote expects higher third-quarter ticket volumes than first half 2025
Company anticipates higher average selling prices for instant tickets in Q3
Company confident in resilience against economic uncertainty
Result Drivers
INSTANT TICKET SALES - Higher average selling prices for instant tickets increased sales by C$4.5 mln, but volumes were down by C$9.2 mln due to timing of customer orders
iLOTTERY PROFITS - Record profit contributions of C$19.5 mln from NeoPollard Interactive iLottery profits, up 20.4% from Q2 2024, driven by strong eInstants sales in North Carolina and Virginia
ACQUISITIONS - Revenue boost from higher charitable gaming volumes by C$6.8 mln, primarily due to acquisitions of Venne and Pacific Gaming
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Miss | C$142.70 mln | C$148.20 mln (2 Analysts) |
Q2 EPS |
| C$0.29 |
|
Q2 Net Income |
| C$8 mln |
|
Q2 Adjusted EBITDA | Miss | C$29.20 mln | C$32.40 mln (4 Analysts) |
Q2 Gross Profit |
| C$23.90 mln |
|
Q2 Income from Operations |
| C$17.40 mln |
|
Q2 Pretax Profit |
| C$10.80 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the casinos & gaming peer group is "buy"
Wall Street's median 12-month price target for Pollard Banknote Ltd is C$35.00, about 38.9% above its August 12 closing price of C$21.38
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nCNW23nX0a
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