Flutter (LON:FLTRF) Entertainment plc (NYSE:FLUT), a leader in computer programming and data processing services, announced today that it will release its financial results for the third quarter of 2024 on November 12, 2024. The company, formerly known as Stars Group Inc. and Amaya Inc., will also host a webcast and conference call on the same day to discuss the quarterly performance.
The announcement, made via the Regulatory News Service in London, is aimed at meeting the disclosure requirements as mandated by the United Kingdom Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The information was also furnished to the SEC and incorporated by reference into this Form 8-K.
Flutter Entertainment, headquartered in New York with its state of incorporation in Ireland, is set to provide investors and analysts with insights into its recent financial developments and operational progress. The company's ordinary shares are traded on the New York Stock Exchange under the ticker symbol FLUT.
This disclosure comes as part of a regulatory filing with the SEC, ensuring transparency and providing stakeholders with timely information ahead of the detailed earnings release. The announcement is based on a press release statement and does not include any additional commentary or forward-looking assessments.
Investors and interested parties are encouraged to tune into the webcast and conference call, where Flutter Entertainment's management team will present the financial results and answer questions. The specific details regarding the time and access to the webcast will be made available closer to the event date.
In other recent news, Flutter Entertainment reported a 20% increase in Q2 revenue to $3,611 million and a 17% rise in adjusted EBITDA to £738 million. The company also confirmed its acquisition of Italian gaming operator Snaitech S.p.A. for approximately €2.3 billion ($2.53 billion), expected to finalize in Q2 2025. Flutter Entertainment has also disclosed a regulatory filing for a block listing application for its ordinary shares and an update on its total voting rights.
Benchmark has reiterated its Buy rating on Flutter's shares, seeing the recent pullback as an opportunity. Barclays (LON:BARC) has maintained an Overweight rating on Flutter Entertainment with a price target of $275. Susquehanna increased its price target for Flutter Entertainment, highlighting the company's growth potential and pending acquisitions in Italy and Brazil.
These are recent developments that investors should keep in mind. While the company's future performance will depend on a number of factors, the recent news suggests that Flutter Entertainment is positioning itself for continued growth and expansion.
InvestingPro Insights
As Flutter Entertainment prepares to release its Q3 2024 financial results, InvestingPro data and tips offer valuable context for investors. The company's market capitalization stands at $40.15 billion, reflecting its significant presence in the computer programming and data processing services sector.
Flutter's revenue growth has been robust, with a 16.28% increase over the last twelve months and a notable 20.33% growth in the most recent quarter. This aligns with an InvestingPro Tip suggesting that net income is expected to grow this year, potentially indicating improving financial health.
The company's EBITDA growth of 44.15% over the last twelve months is particularly impressive, showcasing strong operational performance. However, it's worth noting that Flutter is currently trading at high EBIT and EBITDA valuation multiples, which investors should consider when evaluating the stock.
Despite not being profitable over the last twelve months, an InvestingPro Tip reveals that analysts predict the company will be profitable this year. This optimism is further supported by the fact that two analysts have revised their earnings upwards for the upcoming period.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Flutter Entertainment, providing a deeper understanding of the company's financial position and market performance.
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