Flutter Reports Mixed Q4, Projects $1 Billion Buyback In FY25 Amid Strong iGaming Momentum

Flutter Entertainment Plc FLUT shares traded higher on Wednesday’s premarket session after the company reported fourth-quarter results on Tuesday.

Revenue of $3.79 billion, up 14% year over year (Y/Y), missed the consensus of $3.99 billion.

The company’s major products delivered iGaming revenue growth of 43% and sportsbook structural gross revenue margin of 14.5%.

Group Ex-US revenue upped 14% Y/Y to $2.181 billion, led by structural sportsbook revenue margin expansion, improved sports results and strong iGaming momentum.

Average monthly players rose 7% Y/Y to 14,605K in the quarter. Adjusted EBITDA increased 4% Y/Y to $655 million, led by strong underlying growth in the US, UKI, and International markets.

Adjusted EBITDA margin for both US and Group Ex-US contracted by 180bps Y/Y to 17.3% due to adverse sports results in the US.

Adjusted EPS of $2.94, up 67% Y/Y, beating the consensus of $1.85.

Operating cash flow stood at $652 million and free cash flow came in at $473 million in the quarter.

As of December 31, cash and cash equivalent stood at $1.53 billion.

”FanDuel remains America's number one sportsbook with its leading product maintaining a clear structural revenue margin advantage over competitors. At the same time, excellent execution secured a new number one spot for FanDuel Casino in iGaming,” said CEO Peter Jackson.

”A key driver of our success has been the Flutter Edge, our unique competitive advantage, which delivered innovative, market-leading product propositions to 35m customers worldwide in 2024.”

FY25 Outlook: The company sees revenue of $15.48 billion-$16.38 billion (consensus of $19.2 billion) and adjusted EBITDA of $2.94 billion-$3.38 billion.

Flutter projects share buyback of up to $1 billion in FY25.

Jackson added, ”We have had a great start to 2025, including record levels of customer engagement for the Super Bowl where FanDuel had 3m active customers placing 17.7m bets with $470m wagered on the day.”

Investors can gain exposure to the stock via VanEck Gaming ETF BJK and Invesco Leisure and Entertainment ETF PEJ.

Price Action: FLUT shares are up 2.19% at $271.98 premarket at the last check Wednesday.

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