Intl Game Tech Expects Q2 Revenue of ~$1.05B Vs $1.09B Est
Portfolio Pulse from Benzinga Newsdesk
Intl Game Tech (IGT) projects Q2 revenue of approximately $1.05 billion, slightly below the estimated $1.09 billion. The company has also upgraded its full-year 2024 outlook, expecting revenues of around $4.4 billion, with operating income margins of about 21% (24% excluding separation and divestiture costs), cash from operations of at least $1.0 billion, and capital expenditures of approximately $500 million.
May 14, 2024 | 10:45 am
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IGT's Q2 revenue projection falls short of expectations, but the company's upgraded full-year 2024 outlook, including higher revenue forecasts and solid operational performance, could positively influence investor sentiment.
While the Q2 revenue forecast is below expectations, the upgraded full-year outlook suggests confidence in the company's future performance. This mixed news could lead to neutral short-term stock movement as investors weigh the immediate shortfall against the optimistic longer-term projections.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100