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Mar 31, 2025
Brightstar Lottery Q1 2025 Earnings Report
IGT reported decreased revenue and income for Q1 2025 amid lower jackpot activity and FX headwinds.
Key Takeaways
International Game Technology posted $583M in revenue and $8M in net income for Q1 2025. Profitability was impacted by FX losses and lower U.S. jackpot activity, but the lottery segment showed resilience with high margins.
Revenue declined 12% YoY to $583M, driven by lower U.S. multi-state jackpot activity.
Net income from continuing operations fell to $8M, down from $116M in Q1 2024.
Adjusted EBITDA margin remained strong at 42.8%.
Cash and liquidity positions remained solid, with $631M in cash and $2.2B in total liquidity.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
IGT expects full-year revenue and Adjusted EBITDA to be at the lower end of prior guidance due to weaker jackpot activity and macroeconomic headwinds.
Positive Outlook
- Strong cash conversion and financial position.
- High Adjusted EBITDA margin reflects efficient operations.
- Instant ticket printing volume increased.
- Italy and Rest of World segments showed resilience.
- Dividend of $0.20 per share declared.
Challenges Ahead
- Significant drop in multi-state jackpot revenue.
- FX losses negatively impacted bottom line.
- Adjusted EBITDA fell 24% YoY.
- EPS declined from $0.35 to $(0.11).
- Guidance revised to the low end of prior range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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