Light & Wonder Stock Price, News & Analysis

Light & Wonder (NASDAQ and ASX: LNW) has announced it will release its financial results for the third quarter of 2024 on Tuesday, November 12, 2024, after market close. The company will host an investor conference call and simultaneous webcast at 4:30 p.m. U.S. Eastern Time on the same day to discuss the results.

Participants are encouraged to pre-register for the conference call using the provided link. Pre-registered callers will receive a conference passcode and unique PIN for immediate access to the call. The webcast will be accessible through the company's website at https://explore.investors.lnw.com, with a replay available approximately one hour after the webcast.

Light & Wonder (NASDAQ and ASX: LNW) received a preliminary injunction from the U.S. District Court for the District of Nevada regarding its Dragon Train game in a lawsuit with Aristocrat. The company disagrees with the decision and plans to appeal. Despite this setback, Light & Wonder reaffirms its 2025 $1.4 billion Targeted Consolidated AEBITDA and expects continued strong growth across all businesses.

The company emphasizes its diversified portfolio of successful game franchises, with Dragon Train estimated to contribute less than 5% to the 2025 Consolidated AEBITDA. Light & Wonder highlights its #1 market share and performance position for top new sold games in North America, with 8 of the top 25 premium leased and wide-area progressive parent theme games. The company is already working on new iterations of the Dragon Train franchise consistent with the court's ruling.

Light & Wonder, Inc. (NASDAQ: LNW) reported its Q2 2024 results, marking its 13th consecutive quarter of consolidated revenue growth with a 12% YoY increase, reaching $818 million. Gaming revenue surged 14% to $539 million, driven by a 32% rise in global gaming machine sales. SciPlay revenue grew 8% to $205 million, and iGaming revenue increased 6% to $74 million.

Net income soared to $82 million from $5 million the previous year. Consolidated AEBITDA rose 17% to $330 million. Over the first half of 2024, revenue hit $1.6 billion, a 13% YoY jump.

The company completed a $175 million share repurchase, announcing an additional $1 billion program. Debt stood at $3.9 billion with a net debt leverage ratio of 3.0x. Light & Wonder was added to the Russell 1000 Index in June 2024.

Light & Wonder (NASDAQ and ASX: LNW) has released its 2023 Global Corporate Social Responsibility Report, highlighting significant progress across its six pillars: People, Community, Planet, Player, Supplier Diversity, and Corporate Governance. Key achievements include:

- $2.3 million in donations and contributions
- Approximately 16,000 volunteer hours to 289 charitable organizations
- Doubled Employee Resource Group membership to 1,300
- Reclaimed $13 million worth of materials from decommissioned gaming machines
- Invested $150,000 in Responsible Gaming organizations
- Launched an ESG Council for global oversight

The company remains committed to creating long-term value for stakeholders, the industry, and communities through its 'Game Changers by Light & Wonder' program.

Light & Wonder (NASDAQ and ASX: LNW) will release its Q2 2024 financial results on August 7, 2024, after market close. The company will also host an investor conference call and webcast at 4:30 p.m. U.S. Eastern Time the same day. Investors are encouraged to pre-register for the call to receive a unique passcode and PIN for immediate access. The webcast will be available on Light & Wonder's website and archived for later viewing.

Light & Wonder (NASDAQ: LNW) announced a new three-year $1 billion share repurchase program, replacing a prior $750 million program that concluded on June 13, 2024. The new program will run through June 12, 2027, and reflects confidence in continued strong business performance. The previous program repurchased 11.2 million shares at an average price of $66.72, a 28% discount to the current price of $92.35. CEO Matt Wilson highlighted the company's ongoing growth strategy and AEBITDA target of $1.4 billion for 2025. CFO Oliver Chow emphasized the financial flexibility and value creation potential of the new repurchase program.

Light & Wonder, Inc. (NASDAQ and ASX: LNW) reported a 13% year-over-year revenue growth in the first quarter of 2024, driven by strong gaming machine sales and record SciPlay and iGaming revenue. The company's consolidated revenue reached $756 million, with net income of $82 million and strong cash flow generation. The principal face value of debt outstanding was $3.9 billion, translating to a net debt leverage ratio of 3.0x. Light & Wonder returned $25 million of capital to shareholders through a share repurchase program. The company's financial highlights included a 13% increase in consolidated AEBITDA, an adjusted NPATA of $105 million, and free cash flow of $93 million. Gaming revenue grew by 14%, SciPlay revenue by 11%, and iGaming revenue by 14%. Gaming operations led the revenue growth, while SciPlay achieved record revenue levels. iGaming revenue reflected continued momentum in the U.S. and international markets. Capital expenditures in the first quarter were $66 million.