International Game Tech (IGT) Tops Q3 EPS by 1c, Revenues Miss; 'Narrows Adjusted EBITDA Outlook for 2018'

International Game Tech (NYSE: IGT) reported Q3 EPS of $0.31, $0.01 better than the analyst estimate of $0.30. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.19 billion.

"Solid performance and important, long-term contracts drove very good third quarter and year-to-date results," said Marco Sala, CEO of IGT. "Global Lottery same-store revenues for instants and draw games rose mid-single digits. The installed base of gaming machines was up, and unit shipments of gaming machines increased 10%. And, we enjoyed particularly strong sales and profit growth in Italy, confirming the vitality of that important market. We are firmly on track to achieve our 2018 financial and operational goals."

"We've delivered Adjusted EBITDA growth of 4% and 7% for the third quarter and year-to-date periods at constant currency and scope," said Alberto Fornaro, CFO of IGT. "As a result, we are narrowing our Adjusted EBITDA outlook for 2018 to $1,740 - $1,780 million, the top half of the prior range."

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

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