Q1 2026 Brightstar Lottery PLC Earnings Call Transcript
Key Points
- Brightstar Lottery PLC (BRSL) reported a solid start to the year with first-quarter revenue of approximately $590 million, reflecting a 1% increase as reported and 3% on a constant currency basis.
- Adjusted EBITDA grew by 15% as reported and 5% in constant currency, showcasing effective operating discipline and benefits from the OPtiMa efficiency program.
- The company returned over $70 million to shareholders through dividends and share repurchases, indicating confidence in the durability of cash flows.
- Global iLottery wagers increased by 30%, with significant growth in the US and Italy, demonstrating strong momentum in digital platforms.
- Brightstar Lottery PLC (BRSL) successfully refinanced its revolving credit facility, extending its maturity to March 2031 with improved terms, enhancing financial stability.
- Revenue growth was modest, with challenges in the UK transition impacting overall performance.
- Same-store sales in the United States were flat and below expectations, with significant performance variation by jurisdiction.
- The New Jersey LMA contract faced a $10 million shortfall due to unfavorable jackpot conditions, with similar challenges expected in the second quarter.
- Inflationary pressures impacted costs, particularly in postage and freight, although the company believes these are manageable.
- Second-quarter revenue is expected to be below the prior year due to higher service revenue amortization and potential New Jersey LMA shortfalls.
(video playing)
Hello, everyone. Thank you for joining us and welcome to the Brightstar Lottery first-quarter 2026 earnings call. (Operator Instructions) I will now hand the conference over to James Hurley. Senior Vice President of Investor Relations. James, please go ahead.
(technical difficulty) and our actual results may differ materially from those expressed or implied in the forward-looking statements. The principal risks and uncertainties that could cause our results to differ materially from our current expectations are detailed in our latest earnings release and in our SEC filings.
During this call, we will discuss certain non-GAAP financial measures. You'll find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP measures in our press release, slides accompanying this webcast, and our filings with the SEC, each of which is posted on our Investor Relations website. Our statements are as of today, May 12
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