International Game tightens FY23 revenue view to $4.3B from $4.2B-$4.3B

Consensus $4.25B. Sees FY23 operating income margin 23%. Sees FY23 cash from operations $900M-$1B. Sees FY23 capital expenditures $400M-$450M. “We are pleased with the financial results we delivered in the third quarter, including top-line growth, margin expansion, and strong cash flow generation,” said Max Chiara, CFO of IGT. “Our financial position is solid with net debt leverage at a historical low point and already comfortably within our long-term target range, which coupled with no meaningful near-term debt maturities and access to significant liquidity, greatly enhances our balance sheet and creates additional financial flexibility.”