- Flutter has raised its FY US adjusted EBITDA forecast to a range of $680 million to $800 million, up from $635 million to $785 million.
- The previous estimate for US adjusted EBITDA was $629.5 million.
- This forecast revision reflects strong performance in Q2 and favorable sports results that are expected to continue into Q3.
- Q2 revenue increased to $3.6 billion, compared to $3.0 billion year-over-year.
- Q2 adjusted EPS surged to $2.61, up from $1.67 year-over-year.
- The average number of monthly players in Q2 grew to 14.3 million, up from 12.2 million the previous year.
- Q2 adjusted EBITDA was $738 million, compared to $633 million year-over-year.
- In Q2, the Illinois Gaming Board announced an increase in gaming taxes effective from July 1, 2024.
- Flutter anticipates mitigating 50% of the increased gaming tax costs in 2025 through optimized local promotional and marketing spending.
- The company now projects 2024 US revenue to be between $6.05 billion and $6.35 billion, up from $5.8 billion to $6.2 billion.
- Flutter also raised its 2024 group ex-US revenue forecast to a range of $7.85 billion to $8.15 billion, up from $7.65 billion to $8.05 billion.
A look at Flutter Entertainment Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Flutter Entertainment Public Limited Company, a leading provider of mobile and online gambling services, shows strong potential for growth in the long term based on its recent Smartkarma Smart Scores assessment. With a high score of 5 in Growth, the company is poised for significant expansion and development in the industry. This indicates a positive outlook for Flutter Entertainment‘s future revenue and market position as it capitalizes on growth opportunities.
Although Flutter Entertainment received a lower score of 1 in Dividend, its overall outlook remains favorable with balanced scores in other key areas. With scores of 3 in both Value and Resilience, the company demonstrates stability and good relative value. Additionally, a score of 3 in Momentum suggests that Flutter Entertainment is gaining traction and momentum in the market, further supporting its long-term prospects for success.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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