International Game Technology Q4 Recap: Registered 8% Revenue Growth Aided By Global Lottery, Global Gaming, And PlayDigital - Intl Game Tech (NYSE:IGT)

International Game Technology IGT reported fourth-quarter FY22 revenue growth of 8% year-on-year to $1.093 billion (at constant currency) Tuesday, beating the consensus of $1.030 billion.
Revenue grew by 4% Y/Y on a reported basis.
Revenue from Global Lottery declined by 3% Y/Y to $639 million (CC), Global Gaming rose 24% Y/Y to $389 million (CC), and Digital & Betting increased 63% Y/Y to $65 million (CC).
The operating margin expanded by 300 bps to 21% as operating income grew by 24% Y/Y.
Adjusted EPS of $0.40 beat the consensus of $0.29.
IGT held $590 million in cash and equivalents. It generated $278 million in operating cash flow, down 30% Y/Y.
"We achieved all our financial goals last year while strengthening product leadership positions across our Global Lottery, Global Gaming, and PlayDigital activities," said Vince Sadusky, CEO of IGT.
Dividend: The board declared a quarterly cash dividend of $0.20 per share.
Outlook: IGT expects Q1 revenue of $1.00 billion (consensus $1.02 billion) and FY23 revenue of $4.10 billion - $4.30 billion (consensus $4.13 billion).
IGT completed make-whole redemption of €188 million of 3.50% Notes due 2024 and $200 million of 6.50% Notes due 2025.
Price Action: IGT shares traded higher by 4.65% at $27.01 premarket on the last check Tuesday.