International Game Tech (IGT) Misses Q4 EPS by 12c, Revenues Miss

International Game Tech (NYSE: IGT) reported Q4 EPS of $0.24, $0.12 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $1.27 billion versus the consensus estimate of $1.27 billion.

"Our 2018 results are in line with the improved outlook we provided in October. The year was characterized by strong global Lottery performance, resilience in Italy, and progress in North America Gaming," said Marco Sala, CEO of IGT. "We\'ve established solid foundations to build on – securing large, long-term Lottery contracts in key markets and executing a full refresh of our gaming machine cabinet and content portfolio. These efforts will translate into improved free cash flow beginning in 2019."

"We achieved 4% Adjusted EBITDA growth on stable revenue at constant currency and scope in 2018," said Alberto Fornaro, CFO of IGT. "We managed our net debt effectively, while making large upfront payments for a key Lottery license in Italy, investing in long-term North America Lottery contracts, and returning capital to shareholders through dividends. Our outlook for 2019 Adjusted EBITDA of $1.70-$1.76 billion assumes underlying growth for our core Lottery and Gaming businesses."

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

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