Light & Wonder reports Q2 EPS $1.11, consensus $1.40

Reports Q2 revenue $809M, consensus $853.29M. CEO Matt Wilson said, “We remain committed to R&D investment to further proliferate our high-performing content across channels and continue to realize the benefits of strong game performance. Our North American installed base and revenue per day increased as we continue to execute on the key initiatives to both expand and extend the longevity of our fleet for maximum value…Following an extensive diligence process, I am excited to announce the Board’s decision to transition to a sole ASX listing, which I believe will deliver tremendous shareholder value going forward.” CFO Oliver Chow said, “Our financial performance in Q2 underscores the benefit of our diversified business model and the disciplined execution of the team. Margin expansion was meaningful, reflecting business performance as well as optimization of resource allocation across digital, content and platform innovation…Additionally, with the added $500M capacity to the program, we expect a smooth transition to our sole ASX listing. We remain within our targeted net debt leverage ratio(3) range on a combined basis following the Grover acquisition and will continue to execute on our capital allocation plan, enabling our flexibility to pursue both growth and shareholder value creation.”