INTERNATIONAL GAME TECHNOLOGY Reports 3.3% Year-on-Year Increase in Total Revenue for FY2023 Q2
August 12, 2023
☀️Earnings Overview
On June 30, 2023, INTERNATIONAL GAME TECHNOLOGY ($NYSE:IGT) reported their Q2 earnings results for FY2023, which showed a 3.3% year-on-year increase in total revenue to USD 1055.0 million. Net income for the quarter amounted to USD 46.0 million, as compared to a net loss of -4.0 million in the same quarter of the preceding year.
Analysis
Our analysis covers aspects such as profitability, liquidity, solvency, working capital, and debt. Furthermore, GoodWhale has detected two risk warnings in the income statement and balance sheet. To gain further insight into our findings, we strongly recommend that interested investors register with us to gain access to the full report. In our report, we have identified several key financial metrics that are indicative of INTERNATIONAL GAME TECHNOLOGY’s soundness, such as a well-established customer base, diversified product offerings, structured cost control, and effective cash management. Additionally, the company has a strong track record of delivering consistent positive results, with an impressive record of meeting the expectations of its shareholders. The report also offers other valuable insights into INTERNATIONAL GAME TECHNOLOGY’s financials. This includes a comparison of their performance against their peers and the industry, as well as a comprehensive overview of their current financial position and future prospects. Ultimately, our analysis paints an optimistic picture of INTERNATIONAL GAME TECHNOLOGY’s future prospects and gives investors confidence when deciding whether to invest in the company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for IGT. More…
| Total Revenues | Net Income | Net Margin |
| 4.27k | 269 | 3.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for IGT. More…
| Operations | Investing | Financing |
| 859 | 117 | -1.23k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for IGT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.51k | 8.61k | 7.13 |
Key Ratios Snapshot
Some of the financial key ratios for IGT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.3% | 21.9% | 23.6% |
| FCF Margin | ROE | ROA |
| 11.8% | 44.1% | 6.0% |
Peers
The competition between International Game Technology PLC and its competitors is fierce. Each company is fighting for market share and trying to gain an edge over the other. The competition is beneficial for consumers as it drives down prices and forces companies to innovate and create new and better products.
– Inspired Entertainment Inc ($NASDAQ:INSE)
Inspired Entertainment Inc is a global gaming technology company that provides virtual sports, mobile gaming and iLottery products to regulated lotteries, bookmakers and casinos. The company has a market cap of 246.77M as of 2022 and a Return on Equity of -56.33%. Inspired Entertainment Inc’s products are available in over 35,000 retail venues and over 100 online and mobile operators around the world. The company’s virtual sports games are based on official league data and are played using the same rules, scoring and odds as the corresponding real-world sporting event.
– Webis Holdings PLC ($LSE:WEB)
Webis Holdings PLC is a publicly traded company with a market capitalization of 6.49 million as of 2022. The company has a return on equity of 9.47%. Webis Holdings PLC is engaged in the business of providing online gaming and betting services. The company was founded in 2002 and is headquartered in the United Kingdom.
– Greek Organisation of Football Prognostics SA ($OTCPK:GRKZF)
As of 2022, the market cap for the Greek Organisation of Football Prognostics SA is 4.37B. The company’s ROE is 40.93%. The company is involved in the business of forecasting football matches.
Summary
INTERNATIONAL GAME TECHNOLOGY reported a strong second quarter of 2023. Total revenue was USD 1055.0 million, a 3.3% increase from the same period last year. Net income came in at USD 46.0 million, an impressive turnaround from -4.0 million a year earlier.
This shows that the company has managed to weather the storm of the pandemic and is well on its way to sustainable growth and long-term success. Investors should keep an eye on the company’s progress as it continues to look for more ways to increase revenues and profits.
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