Evoke (LON:EVOK) Announces Earnings Results

Evoke (LON:EVOK) announced its quarterly earnings results on Wednesday. The company reported GBX (0.40) earnings per share for the quarter, Digital Look Earnings reports. Evoke had a negative net margin of 30.73% and a positive return on equity of 125.82%.

Here are the key takeaways from Evoke’s conference call:

• Recommended Bally’s Intralot acquisition remains on track, subject to shareholder, regulatory, and other approvals, with completion expected in Q4 2026 or Q1 2027; the company is not providing forward-looking financial guidance.
• First-half revenue was broadly stable at £888 million, but adjusted EBITDA fell 10% to £150 million after a £46 million year-on-year increase in gaming duties, including approximately £30 million from the U.K.
• UK & I Online revenue rose 4% and adjusted EBITDA increased 28%, driven by stronger marketing and promotional efficiency, operational savings, and continued double-digit growth at William Hill Vegas. Retail like-for-like revenue grew 4% and EBITDA rose 5% despite closing 270 loss-making shops.
• International adjusted EBITDA declined 20% as higher duties in Italy and Romania, a shift toward higher-duty markets, and weaker performance in Spain and other regions compressed margins. Management is increasing product investment in Spain while restricting spending in weaker markets such as Romania to preserve returns and liquidity.
• The group generated £85 million of underlying free cash flow, but exceptional and other outflows caused net debt to rise by about £37 million and leverage to increase to 5.6x; period-end liquidity was approximately £150 million.

Evoke Stock Up 0.4%

Shares of Evoke stock opened at GBX 46.20 on Friday. The business has a 50-day moving average price of GBX 45.87 and a 200 day moving average price of GBX 36.92. Evoke has a fifty-two week low of GBX 19.76 and a fifty-two week high of GBX 63.30. The firm has a market cap of £207.96 million, a P/E ratio of -0.38 and a beta of 1.00.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EVOK. JPMorgan Chase & Co. upped their price target on shares of Evoke from GBX 34 to GBX 52 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Berenberg Bank lifted their target price on Evoke from GBX 33 to GBX 52 and gave the stock a “hold” rating in a research report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of GBX 46.33.

Evoke Company Profile