IGT - International Game Technology PLC Reports Second Quarter 2018 Results
"The strong second quarter results reflect continued global Lottery expansion that is accentuated by disciplined expense management," said Marco Sala, CEO of IGT. "The North America Lottery and Italy segments each exceeded our expectations in the period. The North America Gaming installed base grew sequentially, and we have a compelling roster of new, for-sale video reel games coming to market in the second half. The strong start to the year gives us confidence we can achieve our 2018 strategic and financial goals."
- Adjusted EBITDA outlook confirmed at $1,700 - $1,780 million, despite approximately $26 million of negative currency translation, on improved underlying business performance
- Net income of $161 million includes $173 million of net foreign exchange gain; Adjusted net income was $57 million
- Adjusted EBITDA of $442 million reflects robust global lottery performance and disciplined operational management
- Cash dividend declared of $0.20 per ordinary share
- Investor Day to be held August 2, 2018 in New York City
LONDON, July 31, 2018 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today reported financial results for the second quarter ended June 30, 2018. Today, at 8:00 a.m. EDT, management will host a conference call and webcast to present the second quarter results; access details are provided below.
"The strong second quarter results reflect continued global Lottery expansion that is accentuated by disciplined expense management," said Marco Sala, CEO of IGT. "The North America Lottery and Italy segments each exceeded our expectations in the period. The North America Gaming installed base grew sequentially, and we have a compelling roster of new, for-sale video reel games coming to market in the second half. The strong start to the year gives us confidence we can achieve our 2018 strategic and financial goals."
"With better-than-expected Adjusted EBITDA growth of 10% in the first half, we are raising our full-year outlook for the underlying business," said Alberto Fornaro, CFO of IGT. "As a result, we are able to absorb the negative impact of foreign currency translation and maintain the Adjusted EBITDA range of $1,700-$1,780 million for 2018."