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Codere Online (CDRO)
NASDAQ:CDRO
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.02Last Year’s EPS
-$0.02Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 27, 2024
|% Change Since: -13.54%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a mixed sentiment with strong revenue growth and positive EBITDA, particularly in Mexico, but is offset by challenges including currency devaluation impacts, a decline in FTDs, and risks associated with the Nasdaq delisting process. The increase in customer acquisition costs also presents a challenge.Company Guidance
In the third quarter of 2024, Codere Online reported a 20% year-on-year increase in net gaming revenue, reaching EUR 52 million, despite a EUR 3.5 million negative impact due to the devaluation of the Mexican peso. Excluding currency effects, revenue would have seen a 32% increase. The company noted a 15% rise in average monthly active customers and a 4% increase in average monthly spend per customer, amounting to EUR 220. Additionally, Codere Online acquired 67,000 first-time depositors at an average cost per acquisition (CPA) of EUR 250. Adjusted EBITDA for the quarter stood at EUR 1.5 million, with EUR 6 million contributed by Spain and EUR 1 million by Mexico. The executive team expects to finish the year at the upper end of the guidance range for both net gaming revenue and adjusted EBITDA, despite challenges such as increased customer acquisition costs and currency fluctuations.Significant Net Gaming Revenue Growth
Codere Online achieved EUR 52 million in net gaming revenue for Q3 2024, a 20% increase from Q3 2023. Adjusting for currency impacts, the growth would have been 32%.
Strong Performance in Mexico
Mexican business revenue grew by 27% to EUR 27 million. On a constant currency basis, growth would have been 43%.
Positive Adjusted EBITDA
Adjusted EBITDA was EUR 1.5 million in Q3 2024, with a contribution of approximately EUR 6 million from Spain and EUR 1 million from Mexico.
Increase in Active Customers
There was a 15% increase in active customers, driven by improved retention in Spain and Mexico.
Cash Flow Generation
Generated EUR 4.4 million of available cash in the first nine months of the year, despite a negative FX impact.
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CDRO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CDRO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 27, 2024 | $7.83 | $7.60 | -2.94% |
| Jul 31, 2024 | $7.66 | $8.20 | +7.05% |
| May 15, 2024 | $7.02 | $7.48 | +6.55% |
| Feb 29, 2024 | $6.50 | $6.69 | +2.92% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Codere Online (CDRO) report earnings?
Codere Online (CDRO) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Codere Online (CDRO) earnings time?
Codere Online (CDRO) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CDRO EPS forecast?
CDRO EPS forecast for the fiscal quarter 2024 (Q4) is $0.02.
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