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NEW YORK -International Game Technology PLC (NYSE:IGT) shares gained 3.26% on Tuesday, after the lottery operator reported better-than-expected fourth quarter earnings and provided a mixed outlook for 2025.
IGT posted adjusted earnings per share of $0.22 for Q4, beating analyst estimates of $0.19. However, revenue came in at $651 million, falling short of the $660.07 million consensus forecast.
For the full year 2025, IGT projects revenue between $2.55 billion and $2.65 billion, above the $2.545 billion analyst consensus. The company expects global same-store sales to grow in the low single digits, driven by higher product sales and sustainable instant ticket services growth.
However, IGT warned that the first half of 2025 will be impacted by an estimated $40-$50 million hit from lower U.S. multi-state jackpot activity. This is expected to result in lower Q1 2025 revenue compared to Q1 2024.
The company forecasts adjusted EBITDA of $1.10-$1.15 billion for 2025, with Q1 adjusted EBITDA projected to be down approximately $70 million year-over-year. IGT cited the jackpot activity decline, unfavorable product mix, and increased business investments as factors.
"2024 was a year of momentous transformation with the conclusion of our strategic review and the announced sale of our Gaming & Digital business for $4.05 billion in cash," said CEO Vince Sadusky. "We are well-positioned to continue strengthening our global lottery leadership."
IGT expects to use approximately $450 million for capital expenditures in 2025, reflecting increased investments related to contract wins, extensions, and upcoming bids.
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