International Game Technology ( (IGT) ) has released its Q1 earnings. Here is a breakdown of the information International Game Technology presented to its investors.
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International Game Technology PLC (IGT) is a global leader in gaming, providing a wide range of gaming solutions, including lotteries, gaming machines, sports betting, and digital gaming, across more than 100 jurisdictions worldwide. The company is known for its innovative game content and strong relationships with governments and regulators.
In its first quarter of 2025, IGT reported financial results that highlight a challenging environment with a decline in revenue and earnings compared to the previous year. Despite these challenges, the company maintained strong cash conversion and liquidity, which positions it well for future contract renewals and strategic initiatives.
Key financial metrics for the quarter included a revenue of $583 million, a 12% decrease from the previous year, and an adjusted EBITDA of $250 million, down 24% year-over-year. The decline in revenue was primarily due to lower U.S. multi-state jackpot activity and timing of product sales. However, the company managed to improve its cash flow from operations significantly, with a 159% increase to $168 million.
Despite the current macroeconomic challenges and lower jackpot activity, IGT remains optimistic about its long-term growth prospects. The company continues to focus on game innovation and portfolio optimization to drive sustainable growth. Management expects to meet the lower end of its full-year revenue and adjusted EBITDA guidance, reflecting the ongoing economic uncertainties.
Looking ahead, IGT is committed to leveraging its solid financial position to navigate the current economic landscape while continuing to invest in growth opportunities. The company’s management remains confident in its ability to deliver value to shareholders through strategic initiatives and operational efficiencies.