Flutter Entertainment, a leading global online sports betting and iGaming operator, has reported strong financial results for the third quarter of 2024, with a 16% increase in average monthly players and a 27% revenue growth year-over-year. The company has raised its fiscal year 2024 Group revenue and Adjusted EBITDA guidance by 1%. The US market showed a strong performance with a 28% increase in AMP and a 51% revenue growth, driven by the NFL season and iGaming strength. Group Ex-US revenue increased by 15% with double-digit growth across all segments. The company also announced a share repurchase program of up to $5 billion over the next 3-4 years. The net loss for the quarter was $114 million, an improvement from the previous years loss of $262 million. The companys leverage ratio improved to 2.4x, within the guidance range, and free cash flow was $112 million.
| Financial Metrics | Q3 2024 | Q3 2023 | YoY Change | ||||
|---|---|---|---|---|---|---|---|
| Amount | % | Change | Amount | % | Change | ||
| Average Monthly Players (AMPs) | 12,920 | 100% | +16% | 11,139 | 100% | N/A | |
| Revenue | $3,248 | 100% | +27% | $2,558 | 100% | N/A | |
| Net Loss | ($114) | -3.5% | +56% | ($262) | -10.2% | N/A | |
| Adjusted EBITDA | $450 | 13.9% | +74% | $258 | 10.1% | N/A | |
| Loss per Share | ($0.58) | N/A | +63% | ($1.55) | N/A | N/A | |
| Adjusted Earnings per Share | $0.43 | N/A | +530% | ($0.10) | N/A | N/A | |
| Net Cash from Operating Activities | $290 | N/A | -48% | $554 | N/A | N/A | |
| Free Cash Flow | $112 | N/A | -74% | $434 | N/A | N/A | |
| Total Debt | $6,910 | N/A | -2% | $7,056 | N/A | N/A | |