FLUT Stock Recent News

Flutter Entertainment PLC (LSE:FLTR) shot up 12% as its US business FanDuel delivered results well ahead of expectations in its first quarterly update since departing the London Stock Exchange for New York. Concerns about FanDuel's half had followed a disappointing update from rival DraftKings after a run of losing results, but Flutter raised its guidance for the year highlighting its US arm.

Flutter Entertainment plc (NYSE:FLUT ) Q2 2024 Earnings Conference Call August 13, 2024 4:30 PM ET Company Participants Paul Tymms - Investor Relations Peter Jackson - Chief Executive Officer Rob Coldrake - Chief Financial Officer Conference Call Participants Clark Lempen - BTIG Jordan Bender - Citizens JMP Ed Young - Morgan Stanley Ryan Sigdahl - Craig-Hallum Capital Group James Rowland Clark - Barclays Dan Politzer - Wells Fargo Paul Ruddy - Davy Joe Stauff - Susquehanna Monique Pollard - Citi Robert Fishman - MoffettNathanson Jed Kelly - Oppenheimer Simon Davies - Deutsche Bank Andrew Tam - Redburn Atlantic Robin Farley - UBS James Wheatcroft - Jefferies Operator Good afternoon and welcome to the Flutter Q2 Results Call hosted by CEO, Peter Jackson; and CFO, Rob Coldrake. There will be a chance to ask questions later, but I will now hand the call over to Paul Tymms, Group Director of Investor Relations.

The FanDuel parent's recent move to New York reflects the growing importance of the U.S. market, CEO Peter Jackson said.

DUBLIN & TORONTO / ACCESSWIRE / August 13, 2024 / Flutter Entertainment (NYSE:FLUT)(LSE:FLTR), the world's leading online sports betting and iGaming operator, announces Q2 2024 results and raises fiscal year 2024 guidance following material Q2 outperformance relative to expectations. Key financial highlights: Three months ended June 30 In $ millions except percentages and average monthly players 2024 2023 YOY Average monthly players (AMPs) ('000s)1 14,344 12,222 +17 % Revenue 3,611 3,001 +20 % Net income 297 64 +364 % Net income margin 8.2 % 2.1 % +610bps Adjusted EBITDA2,3 738 633 +17 % Adjusted EBITDA margin2 20.4 % 21.1 % (70)bps Diluted earnings per share ($) 1.45 0.37 +290 % Adjusted earnings per share ($)2 2.61 1.67 +56 % Net cash provided by operating activities 323 41 +688 % Free Cash Flow2 171 (95 ) Leverage ratio (December 2023 3.1x)2,3 2.6 • Strong Q2 performance with AMPs1 +17% and revenue +20% underpin increases to US and Group Ex-US FY 2024 guidance with Group revenue +

Flutter raised its full-year guidance after a much better than expected second quarter and said it has no plans "at this stage" to follow rival Draftkings in adding a surcharge to customer's winnings in high-tax U.S. states.

Flutter Entertainment PLC (LSE:FLTR)'s full-year guidance will be in full focus when the betting firm publishes second-quarter results on Tuesday, August 13. According to UBS, “material uncertainty” remains over whether Flutter can stick to guidance for adjusted pre-tax earnings of US$635 million to US$785 million in the US.

Flutter Entertainment PLC (LSE:FLTR) is on course to post strong first-half numbers believe the analysts at US bank Citi. The Betfair, Paddy Power and FanDuel group should reveal strength across the portfolio, adds Citi, helped by favourable results outside of the US, especially the UK.

Flutter Entertainment to Report Second Quarter 2024 Financial Results and Host a Conference Call on August 13, 2024 DUBLIN, IRELAND / ACCESSWIRE / July 30, 2024 / Flutter Entertainment plc ("Flutter") (NYSE:FLUT)(LSE:FLTR), the leading online sports betting and iGaming operator, today announced that it will release its second quarter 2024 financial results after market close on Tuesday, August 13, 2024 at 16:05 ET (21:05 BST). The earnings release and supplementary materials will be available through the "Investors" section of the Flutter website at www.flutter.com.

NEW YORK--(BUSINESS WIRE)--Flutter Entertainment (“Flutter”) (NYSE: FLUT, LSE: FLTR), the world's leading online sports betting and iGaming operator of brands including FanDuel, announced the appointment of Christine M. McCarthy and Robert R. (“Dob”) Bennett to the Board of Directors, effective July 30, 2024. Ms. McCarthy will sit on the Audit Committee and Mr. Bennett will serve as a member of the Risk and Sustainability Committee. “Christine and Dob's extensive experience in the entertainment.

Jefferies has reiterated a 'buy' rating on Flutter Entertainment PLC (LSE:FLTR), setting a price target of 22,000p. Despite increased gaming taxes in Illinois potentially impacting earnings, the American investment bank is optimistic about the gaming group's prospects, especially its strong US market presence through FanDuel.