EarningsQ2 2026 Earnings Report
DE:7IG Q2 2026 EPS Results
Actual EPS€0.10
Consensus EPS€0.03
Beat/MissBeat by +€0.07
One Year Ago EPS€0.11
DE:7IG Q2 2026 Revenue Results
Actual Revenue€521.16M
Expected Revenue€529.11M
Beat/MissMissed by -€7.94M
YoY Revenue Growth-7.45%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
DE:7IG Upcoming Earnings
Brightstar Lottery's next earnings date is estimated for November 10, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:7IG Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a constructive operational and strategic picture: strong iLottery growth, margin improvement, meaningful cost-savings execution and major digital and retail milestones (notably in Italy and Sao Paulo). These achievements were offset by large upfront Italy license cash outflows, accounting-driven service revenue amortization that depresses reported metrics, near-term lumpy product sales and jackpot-driven revenue variability. Management reaffirmed guidance, highlighted improving leverage and a path to >$400M annual free cash flow after the CapEx cycle, and signaled continued shareholder returns and investments. On balance, the positive operational momentum, cash generation (adjusted for the license payment), and clear pathway to scale digital initiatives outweigh the near-term accounting and cash timing headwinds.Company Guidance
Q2 Profit and Margin Outperformance
Adjusted EBITDA rose 4% year-over-year to $286 million in Q2, delivering a reported EBITDA margin near 49% and 42% excluding upfront license fee amortization, outperforming expectations.
Global Same-Store Sales Growth
Global same-store sales increased 1.5% in Q2 (an acceleration from Q1), driven by stronger U.S. sales and strength in targeted instant and draw games in markets such as New Jersey and Indiana.
Rapid iLottery Growth
Wagers were up 22% in the first half of 2026; Italy iLottery growth was +23% (led by eInstants like EUR 30 and multiplier games) and U.S. iLottery growth was +29%, with expansions in Kentucky, Georgia, Michigan and Virginia.
Strong Cash Generation and Shareholder Returns
Despite the large upfront Italy Lotto payment, adjusted cash from operations (excluding the Lotto payment) was +$501 million for H1; Brightstar returned $140 million to shareholders year-to-date (dividends $85M; buybacks $55M). LTM cash dividend yield ~9%.
Balance Sheet and Liquidity Position
Final Lotto payment completed; net debt leverage at ~3.24x (below prior expectations) with total liquidity of $1.7 billion, providing flexibility for continued shareholder returns and investments.
Italy B2C and Retail Modernization Milestones
Launched an enhanced MyLotteries app (eInstants, eDraw, iCasino, sports betting, loyalty and live chat); upgraded POS terminals at >33,000 Italy retail locations and recruited ~23,000 retailers to drive digital account activations.
Operational Investments and Production Capacity
New instant-ticket press increased incremental capacity, supporting a double-digit increase in standard units produced in H1 with growth in Texas, France and Poland; multiyear FM extensions secured in Mauritius and Slovakia.
Cost Savings and Efficiency Program
OPtiMa savings target raised from $80M to $100M vs. 2024 baseline, with ~$70M of savings expected to be realized by end of 2026 through management-layer and real estate optimizations.
Growth Outlook and Financial Valuation Metrics
Management reaffirmed full-year 2026 guidance with expectation of accelerated revenue and profit in H2; company estimates >$400M annual free cash flow post-CapEx cycle (pre-license payments, after minority distributions) and highlighted ~20% cash flow yield and a 7x multiple on adjusted EPS (ex-SRA) based on 2025 actuals.
New Market Launch: Sao Paulo
Digital lottery operations went live in Sao Paulo within six months of a 15-year concession; retail launch planned later in the year, establishing a potential significant long-term growth market (46M residents, ~1/3 Brazil GDP).
DE:7IG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed