International Game Tech (IGT) Tops Q1 EPS by 9c
International Game Tech (NYSE: IGT) reported Q1 EPS of $0.57, $0.09 better than the analyst estimate of $0.48. Revenue for the quarter came in at $1.28 billion versus the consensus estimate of $1.28 billion.
The Company continues to expect to achieve adjusted EBITDA of $1,740-$1,790 million for the full year 2016 period, supported by growth in core operations and using an average euro/dollar exchange rate of 1.10 versus 1.11 last year. A modest headwind is expected from other currencies, notably the British pound, the South African rand, and certain Latin American currencies.
Capital expenditures excluding Lotto concession payments are expected to be $575-$625 million. Lotto-related capital expenditures are estimated at $695 million, including $660 million in upfront payments and approximately $35 million for infrastructure upgrades. Net debt is still expected to be $7,700-$7,900 million at the end of 2016.
For earnings history and earnings-related data on International Game Tech (IGT) click here.