CDRO Earnings Prediction
The chart below shows how CDRO performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CDRO sees a -0.85% change in stock price 10 days leading up to the earnings, and a -4.88% change 10 days following the report. On the earnings day itself, the stock moves by +7.05%. This data can give you a slight idea of what to expect for the next quarter's release.
CDRO Key Earning Data
2024/Q4
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CDRO Earnings Analysis
Codere Online Luxembourg, S.A. Ordinary Shares Corporation (CDRO.O) Earnings Conference Call
Positive
Net Gaming Revenue Increase: We delivered €52 million in net gaming revenue, €8.5 million or 20% above Q3 2023.
Gaming Revenue Increase: Consolidated net gaming revenue grew by 20% to $52 million, driven primarily by our Mexican business, where revenue grew 27% to $27 million.
Spanish Gaming Revenue Increase: In Spain, net gaming revenue grew 11% to nearly €21 million.
Positive Adjusted EBITDA Contribution: Adjusted EBITDA was positive €1.5 million in the third quarter and included a contribution of approximately €6 million from our Spanish business and €1 million from Mexico.
First-Time Depositors and CPA: We had 67,000 first-time depositors at an average CPA of €250.
Negative
Currency Impact on Revenue: Third quarter net gaming revenue was negatively impacted by about $3.5 million as a result of a weaker Mexican peso versus the prior year period.
Net Gaming Revenue Increase: Excluding this impact, net gaming revenue would have been €55 million in the third quarter, a 32% increase over the prior year and an improvement over what was a record NGR in the second quarter.
Negative Working Capital Impact: The third quarter ended with negative €23 million or around 11% in terms of our net working capital position.
Negative Revenue Impact: We ended the quarter with negative €23 million or around 11% and of LTM net gaming revenue, which is both in line with prior quarters and continues to reflect a relatively restrictive trade terms from suppliers.
Peso Devaluation Impact: The Mexican peso devalued by more than 12% in the third quarter of 2024, resulting in a €3 million headwind to our net gaming revenue in Mexico.
CDRO FAQs
How does CDRO typically perform around its earnings report dates?
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CDRO Earning Call Sentiment
Codere Online Luxembourg, S.A. (CDRO) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
CDRO.O
0.15%Positive
The earnings call presents a mixed picture: strong net gaming revenue growth and improved EBITDA are positives, but the negative working capital and currency headwinds pose risks. The lack of a share buyback program and the cautious approach to hedging currency risk add uncertainty. The Q&A section reveals competitive pressures and management's non-specific answers on key issues, tempering optimism. Overall, the stock price is likely to remain stable, with no significant catalysts to drive a major move in either direction.