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International Game Technology (IGT)
NYSE:IGT
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Earnings Data
Report Date
Mar 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.19Last Year’s EPS
$0.56Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -18.69%
|Next Earnings Date:Mar 04, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong financial performance in the lottery segment, successful contract renewals, and growth in iLottery. However, challenges included a decline in multistate jackpot sales, restructuring costs, and lower product sales margins. Overall, the highlights and lowlights are balanced.Company Guidance
During the IGT third quarter 2024 earnings call, the executives provided guidance highlighting several key metrics and strategic initiatives. They reported a revenue of $1.9 billion for the first nine months, with adjusted EBITDA reaching $880 million, a margin of 47.3%. The company emphasized its strong financial performance in the lottery sector, with continuing operations generating two-thirds of the $725 million year-to-date cash flow from operations and over 85% of the $445 million consolidated free cash flow. Despite a 6% decline in Q3 global same-store sales due to unfavorable U.S. multistate jackpot comparisons, sales of instant and draw games, which account for over 90% of global wagers, showed improvement. In Italy, wagers grew approximately 3%, supported by new instant games. IGT also highlighted a significant contract extension in North Carolina and the success of its iLottery segment with sales up over 26% in the third quarter. The company introduced OPTIMA 3.0 to optimize costs and announced a $38 million restructuring charge, aiming for $40 million in annualized cost savings by 2026. For Q4 2024, IGT expects revenue between $640 million to $690 million and adjusted EBITDA of $280 million to $300 million, with full-year revenue projected at $2.5 billion to $2.55 billion and adjusted EBITDA at $1.16 billion to $1.18 billion.Strong Year-to-Date Financial Performance
IGT reported revenue of $1.9 billion for the first 9 months of 2024, with adjusted EBITDA of $880 million and a margin of 47.3%. Cash flow from operations was $725 million year-to-date, with over 85% coming from continuing operations.
Lottery Segment Leadership and Contracts
The company secured a 10-year facilities management contract extension in North Carolina and a 3-year primary printing contract with Portugal lottery, displacing an incumbent.
Growth in iLottery and Instant Ticket Sales
Sales in the iLottery segment were up over 26% in Q3, with significant growth in instant ticket printing, including new contracts with Portugal and the French National Lottery.
Positive Outlook for 2025
The company expects growth opportunities from the $5 price point increase in Mega Millions starting April 2025, which is anticipated to drive larger jackpots and increased sales.
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IGT 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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IGT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $21.18 | $20.76 | -1.98% |
| Jul 30, 2024 | $22.99 | $22.39 | -2.61% |
| May 14, 2024 | $19.42 | $19.98 | +2.88% |
| Mar 12, 2024 | $24.17 | $22.66 | -6.25% |
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 International Game Technology (IGT) report earnings?
International Game Technology (IGT) is schdueled to report earning on Mar 04, 2025, TBA Not Confirmed.
What is International Game Technology (IGT) earnings time?
International Game Technology (IGT) earnings time is at Mar 04, 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 IGT EPS forecast?
IGT EPS forecast for the fiscal quarter 2024 (Q4) is $0.19.
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