On August 5, Flutter Entertainment PLC declined 6.15% in regular trading, trading at $97.34/share, with turnover of $234 million. The drop was triggered by the company's Q2 earnings release before market open, which missed expectations on profitability and included a downward revision to full-year revenue guidance.
Flutter reported Q2 adjusted EPS of $0.49, significantly below the analyst consensus estimate of $0.54-$0.60, representing an 83% year-over-year decline from $2.95. Revenue came in at $4.33 billion, beating the $4.23 billion estimate. However, the company lowered its full-year revenue guidance to $17.44 billion-$18.39 billion, down from $17.66 billion-$18.96 billion previously, falling short of the analyst expectation of $18.21 billion.
Simultaneously, Flutter announced a major leadership transition: International President Dan Taylor will succeed Peter Jackson as Group CEO effective October 1. The company also completed its London Stock Exchange delisting on August 3, now trading exclusively on the NYSE. Notably, U.S. adjusted EBITDA reached $119 million in Q2, described as exceeding expectations, while international EBITDA declined year-over-year.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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