International Game Tech (IGT) Misses Q1 EPS by 19c, Offers Outlook

International Game Tech (NYSE: IGT) reported Q1 EPS of $0.29, $0.19 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.19 billion.

Outlook

The Company updated its outlook to account for the closing of the DoubleDown transaction by the end of the second quarter and the impact of new taxation on gaming machines in Italy. The Company currently expects full year 2017 adjusted EBITDA of $1,600-$1,680 million, compared to its previous outlook of $1,680-$1,760 million. Net debt is now expected to be $6,950-$7,150 million at the end of 2017, compared to the previous $7,600-$7,800 million outlook, as net proceeds from the DoubleDown sale will be used to reduce debt.

Adjusted EBITDA is a non-GAAP measure. Management uses non-GAAP financial measures to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, and to evaluate the Company's financial performance. Management believes these Non-GAAP financial measures reflect the Company's ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of business trends.

For earnings history and earnings-related data on International Game Tech (IGT) click here.

You May Also Be Interested In

• ​Trump said he was unaware of his earnings from crypto
• Six Flags names Mark Pauls as chief operating officer
• Lindsay (LNN) Tops Q3 EPS by 18c, Misses on Revenue