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NEW YORK - Brightstar Lottery PLC (NYSE:BRSL) reported second-quarter adjusted earnings that fell short of analyst expectations on Tuesday, despite posting revenue that exceeded forecasts.
The company’s shares edged down 0.28% in after hours trading following the announcement.
The global lottery operator reported adjusted earnings per share of $0.12 for the quarter, missing the analyst consensus of $0.15. Revenue came in at $631 million, surpassing the $621.41 million estimate and representing a 3% increase from $613 million in the same period last year.
The company’s performance was bolstered by 2.6% global same-store sales growth in instant ticket and draw games, along with a 59% increase in product sales revenue. However, profits were pressured by a $99 million non-cash impact from foreign currency translation and a $21 million restructuring charge associated with the company’s expanded cost reduction program.
"Our second quarter results reflect sustained global demand for instant ticket and draw games," said Max Chiara, CFO of Brightstar. "We are investing in key initiatives to drive sustainable, long-term growth, while also delivering structural cost reductions to right-size the business."
The company reported a loss from continuing operations of $60 million compared to income of $84 million in the prior-year period, primarily due to foreign exchange losses and restructuring charges. Adjusted EBITDA declined 5% to $274 million from $290 million a year earlier.
For fiscal year 2025, Brightstar reaffirmed its adjusted EBITDA outlook of approximately $1.10 billion but lowered its revenue guidance to $2.5 billion from its previous forecast, below the consensus estimate of $2.55 billion. The company cited a timing shift in product sales and increased amortization related to the Italy Lotto upfront license fee as reasons for the adjustment.
Brightstar also announced plans to launch a $250 million accelerated share repurchase program as part of its previously announced $500 million share repurchase authorization.
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