IGT Q4 2024 Earnings Report
Key Takeaways
International Game Technology PLC (IGT) reported Q4 2024 revenue of $651 million, down 4% year-over-year. The company posted an operating income of $179 million and net income from continuing operations of $116 million, reflecting a strong 17.9% margin. Adjusted EBITDA came in at $290 million, with a margin of 44.5%. Despite revenue pressures, the company delivered solid profitability and maintained a strong balance sheet.
Revenue decreased 4% year-over-year to $651 million due to tough comps from the prior year.
Operating income declined to $179 million, with an operating margin of 27.4%.
Adjusted EBITDA of $290 million, reflecting a strong margin of 44.5%.
Cash and cash equivalents increased 15% year-over-year to $584 million.
IGT Revenue
IGT EPS
IGT Revenue by Segment
IGT Revenue by Geographic Location
Forward Guidance
IGT expects modest revenue growth in FY 2025, with continued investments in business expansion and digital gaming.
Positive Outlook
- Revenue expected to grow to $2.55 - $2.65 billion.
- Higher product sales anticipated due to strong instant ticket services growth.
- Global same-store sales expected to rise low-single-digits.
- Continued investment in cloud-based solutions and network optimization.
- Potential for capital expenditure efficiencies over the next cycle.
Challenges Ahead
- Lower U.S. multi-state jackpot activity expected to impact Q1 2025 revenue.
- Adjusted EBITDA expected to decline in H1 2025 due to investments.
- Q1 2025 Adjusted EBITDA projected to be down by $70 million.
- Higher upfront investment required for contract renewals.
- Increased competition in the global lottery and gaming market.