Light & Wonder (LNWO) reaffirms 2026 outlook and details Q2 results call

Rhea-AI Filing Summary

Light & Wonder, Inc. plans to release financial results for the second quarter ended June 30, 2026 on August 4, 2026, after U.S. markets close and before the ASX opens on August 5, 2026. An investor conference call and simultaneous webcast will follow at 7:00 p.m. U.S. Eastern Time / 9:00 a.m. Australian Eastern Standard Time to discuss the results.

The company reiterates its 2026 outlook for mid-to-high single-digit Consolidated AEBITDA growth and states a commitment to deleveraging its balance sheet toward the mid-point of its targeted net debt leverage ratio range during 2026 and to below 3.0x in the first half of 2027, subject to the continuation of share repurchases. Approximately US$180 million remains under the ongoing share repurchase program. As of July 1, 2026, total shares outstanding, including common stock and CDIs, were 77,049,181, following the repurchase of 1,612,580 CDIs in Q2 FY26 for about US$134 million; repurchases were paused on June 29, 2026 ahead of the Q2 blackout period.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Consolidated AEBITDA outlook: mid-to-high single-digit growth for 2026 Remaining share repurchase authorization: US$180 million Shares outstanding: 77,049,181 shares +4 more

7 metrics

Consolidated AEBITDA outlook mid-to-high single-digit growth for 2026 Reiterated financial outlook for full-year 2026

Remaining share repurchase authorization US$180 million Capacity left under ongoing share repurchase program

Shares outstanding 77,049,181 shares Total shares outstanding, including common stock and CDIs, as of July 1, 2026

CDIs repurchased in Q2 FY26 1,612,580 CDIs Securities repurchased during Q2 FY26 under share repurchase program

Consideration for Q2 CDI repurchases approximately US$134 million Total consideration paid for 1,612,580 CDIs repurchased in Q2 FY26

Target net debt leverage ratio below 3.0x Goal for first half of 2027, subject to continuation of share repurchases

Q2 FY26 earnings call time 7:00 p.m. U.S. Eastern / 9:00 a.m. AEST Scheduled time for August 4, 2026 investor conference call and webcast

Key Terms

Consolidated AEBITDA, net debt leverage ratio, CDIs, forward-looking statements, +1 more

5 terms

Consolidated AEBITDA financial

"The Company remains on track to meet the previously announced financial outlook of mid-to-high single-digit Consolidated AEBITDA"

Consolidated AEBITDA is a company’s adjusted earnings before interest, taxes, depreciation and amortization calculated across the parent and all its subsidiaries. It strips out one-time items, non-cash charges and other specified effects so investors can see the underlying cash-generating performance of the whole group—like comparing the regular monthly cash flow of a household after removing one-off repairs—useful for valuing the business and comparing peer performance, though it is a non-standard measure.

net debt leverage ratio financial

"towards the mid-point of our targeted net debt leverage ratio range over the course of 2026 and below 3.0x"

Net debt leverage ratio measures how many years of a company’s core earnings would be needed to pay off its debt after accounting for cash on hand, calculated by dividing net debt (total debt minus cash) by annual operating earnings. Investors use it like a household debt-to-income check: a lower number means the company is in a stronger position to handle obligations and take risks, while a higher number signals greater financial strain and vulnerability to shocks.

CDIs financial

"This follows 1,612,580 CDIs repurchased during Q2 FY26 for total consideration of approximately US$134 million"

CDIs (CHESS Depositary Interests) are local certificates that represent ownership of foreign shares so investors can buy, sell and hold those stocks on a domestic exchange without moving the underlying shares across borders. Think of a CDI as a local receipt for a foreign share: it gives most economic rights and easier trading in local currency and settlement systems, which matters to investors for access, liquidity, and the practical handling of dividends and corporate actions.

forward-looking statements regulatory

"In this release, Light & Wonder makes “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Non-GAAP financial measures financial

"Consolidated AEBITDA, as used herein, is a non-GAAP financial measure that is presented as a supplemental disclosure"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

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Understanding 8-K Material Events →

Available on EDGAR 07/13/2026 - 05:16 PM Accepted by SEC EDGAR 07/13/2026 - 05:15 PM Learn about SEC filing dates

FAQ

When will Light & Wonder (LNWO) report its Q2 FY26 financial results?

Light & Wonder will release its Q2 FY26 results on August 4, 2026, after U.S. markets close and before the ASX opens on August 5, 2026. The announcement will be accompanied by an investor conference call and webcast later that same day.

What is Light & Wonder’s (LNWO) outlook for 2026 Consolidated AEBITDA?

Light & Wonder reiterates its 2026 outlook for mid-to-high single-digit Consolidated AEBITDA growth. This non-GAAP metric is presented as a supplemental measure and is reconciled to net income in the company’s SEC and ASX filings and related disclosures.

How much capacity remains under Light & Wonder’s (LNWO) share repurchase program?

Light & Wonder reports that approximately US$180 million remains available under its ongoing share repurchase program. During Q2 FY26, the company repurchased 1,612,580 CDIs for total consideration of about US$134 million before pausing purchases ahead of the blackout period.

What are Light & Wonder’s (LNWO) net debt leverage targets?

Light & Wonder is committed to deleveraging toward the mid-point of its targeted net debt leverage ratio range over 2026 and to below 3.0x in the first half of 2027, with these targets stated as subject to the continuation of share repurchases.

How many shares of Light & Wonder (LNWO) are outstanding after recent repurchases?

As of July 1, 2026, Light & Wonder had 77,049,181 shares outstanding, including common stock and CDIs. This figure includes 688,915 CDIs held in a trust account for future option exercises for non-U.S. resident directors or as directed by the company.

When is Light & Wonder’s (LNWO) Q2 FY26 investor conference call and how can investors join?

The Q2 FY26 investor call and webcast will occur on August 4, 2026 at 7:00 p.m. U.S. Eastern Time / 9:00 a.m. AEST. Participants can access the live webcast via the company’s investor website and obtain a unique PIN for the telephone dial-in by pre-registering.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the 

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 13, 2026

Light & Wonder, Inc.

(Exact name of registrant as specified in its charter)

Nevada	001-11693	81-0422894
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

6601 Bermuda Road, Las Vegas, NV 89119  

(Address of registrant’s principal executive office)

(702) 897-7150

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
None	None	None

Securities registered pursuant to Section 12(g) of the Act:

Title of each class

Common stock, par value $0.001 per share

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

¨     Emerging growth company

¨  If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 7.01. Regulation FD Disclosure.

On July 13, 2026 (U.S. time) (July 14, 2026 Australia time), Light & Wonder, Inc. (the “Company”) announced details of the investor conference call and simultaneous webcast to review the Company’s second quarter 2026 results and provide an update regarding its financial outlook and share repurchase program (the “Announcement”). A copy of the Announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Item 7.01 as well as in Exhibit 99.1 is furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Announcement dated July 13, 2026.
104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	LIGHT & WONDER, INC.
Dated: July 13, 2026	By:	/s/ Susan Dawson
	Name:	Susan Dawson
	Title:	Executive Vice President, Chief Legal Officer and Corporate Secretary

Exhibit 99.1 

Details of Q2 FY26 Investor Conference Call
Financial Outlook and Share Repurchase Update

Las Vegas, July 13, 2026

Light & Wonder, Inc. (ASX: LNW) (“Light & Wonder,” “we” or the “Company”) announced that it will release its financial results for the second quarter ended June 30, 2026 (“Q2 FY26”), on Tuesday, August 4, 2026, after the U.S. markets close, and before trading on the Australian Securities Exchange (“ASX”) opens on Wednesday, August 5, 2026.

The Company will host an investor conference call and simultaneous webcast the same day at 7:00 p.m. U.S. Eastern Time / 9:00 a.m. Australian Eastern Standard Time to discuss the results.

Schedule 1 sets out further details for those intending to join the investor conference call.

Reiteration of FY26 Financial Outlook & Share Repurchase Update

The Company remains on track to meet the previously announced financial outlook of mid-to-high single-digit Consolidated AEBITDA¹ growth for 2026 and we are committed to deleveraging our balance sheet towards the mid-point of our targeted net debt leverage ratio¹ range over the course of 2026² and below 3.0x during the first half of 2027.

The Company has a total of approximately US$180 million remaining under its ongoing share repurchase program, and as of July 1, 2026, the total number of shares outstanding (including common stock and CDIs) was 77,049,181³. This follows 1,612,580 CDIs repurchased during Q2 FY26 for total consideration of approximately US$134 million⁴.

Authorised for lodgement by the Corporate Secretary

About Light & Wonder

Light & Wonder, Inc. is a leading cross-platform global games company. Through our three unique, yet highly complementary business segments, we deliver unforgettable experiences by combining the exceptional talents of our 6,500+ member team, with a deep understanding of our customers and players. We create immersive content that forges lasting connections with players, wherever they choose to engage. At Light & Wonder, it’s all about the games. The Company is committed to the highest standards of integrity, from promoting player responsibility to implementing sustainable practices. To learn more visit www.lnw.com.

Company Contacts:

Investor Relations

Rohan Gallagher

EVP, Global Chief Corporate Affairs Officer

ir@lnw.com

¹ Represent forward-looking non-GAAP financial measures presented on a supplemental basis. Additional information on non-GAAP financial measures presented herein is available in Schedule 2 of this release.

² Subject to the continuation of share repurchases.

³ The total number of shares issued and outstanding includes 688,915 CDIs held in a trust account with our equity plan administrator for future exercises of options issued to our non-US resident directors or as directed by the Company.

⁴ The Company paused purchases under the share repurchase program on June 29, 2026 ahead of the Q2 FY26 blackout period, in accordance with the Company’s Securities Trading Policy.

Schedule 1 – Details for Q2 FY26 Investor Conference Call

Light & Wonder will release its financial results for the second quarter ended June 30, 2026, on Tuesday, August 4, 2026, after the U.S. markets close, and before the ASX opens on Wednesday, August 5, 2026.

The Company will host an investor conference call and simultaneous webcast the same day at 7:00 p.m. U.S. Eastern Time / 9:00 a.m. Australian Eastern Standard Time to discuss the results.

Webcast

To access the live webcast of the call, please visit the Company’s website at https://explore.investors.lnw.com and click on the webcast link. A replay of the webcast will be available approximately one hour after the webcast and will be archived on the Company’s website.

Conference Call

Participants will be given a unique PIN to gain access to the call by registering at Light & Wonder earnings call. Participants may pre-register at any time, including up to the call start time.

Telephone Dial-in

US Toll Free: +1 (844) 543-0451

Australia: +61 1800 491 687

International: +1 (864) 991-4103

Conference call dial-in PIN: Unique PIN provided upon registration

Schedule 2 – Additional Information

Forward-Looking Statements

In this release, Light & Wonder makes “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about our financial outlook that describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as “will,” “may,” “estimate,” “plan,” “believe,” “expect,” “outlook,” “target,” “should,” “could,” “potential,” “opportunity,” “goal,” or similar terminology. These statements are based upon current Company management expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including (i) the risk that the Company may be unable to achieve expected earnings momentum towards the second half of the year, (ii) the timing of investments, (iii) the timing of capital expenditures of our customer base, or (iv) change in capital allocation strategy and those factors described in our filings with the U.S. Securities and Exchange Commission (“SEC”) and ASX. Additional information regarding risks and uncertainties and factors that could cause results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC and ASX, including the Company’s current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC and ASX for the year ended December 31, 2025 on February 24, 2026 (including under the headings “Forward-Looking Statements” and “Risk Factors”). Forward-looking statements speak only as of the date they are made and, except for our ongoing obligations under the U.S. federal securities laws and ASX Listing Rules, we undertake no and expressly disclaim any obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

Consolidated AEBITDA

Consolidated AEBITDA, as used herein, is a non-GAAP financial measure that is presented as a supplemental disclosure of the Company’s operations and is reconciled to net income as the most directly comparable GAAP measure. Consolidated AEBITDA should not be considered in isolation of, as a substitute for, or superior to, the consolidated financial information prepared in accordance with GAAP, and should be read in conjunction with the Company’s financial statements filed with the SEC and lodged with the ASX. Consolidated AEBITDA may differ from similarly titled measures presented by other companies.

Consolidated AEBITDA is reconciled to Net income and includes the following adjustments, as applicable: (1) Restructuring and other, which includes charges or expenses attributable to: (i) employee severance; (ii) management restructuring and related costs; (iii) restructuring and integration; (iv) cost savings initiatives; (v) major litigation; and (vi) acquisition- and disposition-related costs, strategic initiatives and other unusual items; (2) Depreciation, amortization and impairment charges and Goodwill impairments; (3) Loss on debt financing transactions; (4) Change in fair value of investments and Gain on remeasurement of debt and other; (5) Interest expense; (6) Income tax expense and impact on adjustments; (7) Stock-based compensation; and (8) Other income, net, including foreign currency gains or losses and earnings from equity investments. Consolidated AEBITDA outlook denotes a non-GAAP financial measure. We are not providing a forward-looking quantitative reconciliation of Consolidated AEBITDA outlook to the most directly comparable GAAP measure because we are unable to do so without unreasonable efforts or to reasonably estimate the projected outcome of certain significant items. These items are uncertain, depend on various factors out of our control and could have a material impact on the corresponding measures calculated in accordance with GAAP.

Net Debt and Net Debt Leverage Ratio

Net debt is defined as total principal face value of debt outstanding, the most directly comparable GAAP measure, less cash and cash equivalents. Principal face value of debt outstanding includes the face value of debt issued under Senior Secured Credit Facilities and Senior Notes, each of which are described in Note 14 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and in Note 10 of the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2026.

Net debt leverage ratio, as used herein, represents Net debt divided by Consolidated AEBITDA. The forward-looking non-GAAP financial measure targeted net debt leverage ratio is presented on a supplemental basis and does not reflect Company guidance. We are not providing a forward-looking quantitative reconciliation of targeted net debt leverage ratio to the most directly comparable GAAP measure because we are unable to predict with reasonable certainty the ultimate outcome of certain significant items without unreasonable effort. These items are uncertain, depend on various factors and could have a material impact on GAAP reported results for the relevant period.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 22.8 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.9 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 33.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 21.8 KB