Flutter’s H1 22 numbers were ahead of consensus but missed our profit estimates as the challenges in Europe were more than offset by the US positives (+50% top-line growth with the first positive quarter for the adjusted EBITDA).
The firm now expects FY22 ex-US EBITDA of £1,290m and £1,390m. US growth expectations (+72%) also surprised, sending the stock >9% higher following the announcement.
We will upgrade our estimates to reflect the strong US momentum, and re-iterate our positive stance on ....
12 Aug 2022
H1 22: US momentum steals the show
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H1 22: US momentum steals the show
Flutter Entertainment Plc (FLTR:LON) | 14,805 11103.8 0.5% | Mkt Cap: 26,271m
- Published:
12 Aug 2022 -
Author:
Virendra Chauhan -
Pages:
4
Flutter’s H1 22 numbers were ahead of consensus but missed our profit estimates as the challenges in Europe were more than offset by the US positives (+50% top-line growth with the first positive quarter for the adjusted EBITDA).
The firm now expects FY22 ex-US EBITDA of £1,290m and £1,390m. US growth expectations (+72%) also surprised, sending the stock >9% higher following the announcement.
We will upgrade our estimates to reflect the strong US momentum, and re-iterate our positive stance on ....