Flutter Entertainment plc: Miss — EPS -$0.18, Revenue $3.87B
Earnings MissQ3 2026 · Pre-market
Did Flutter Entertainment plc (FLUT) beat earnings today?
No, Flutter Entertainment plc (FLUT) missed Wall Street analyst expectations for Q3 2026, reporting lower-than-expected EPS and lower-than-expected revenue.
Earnings Per Share-185.71% surprise
-$0.18Actual
Expected: $0.21
vs. year ago -111.0%
Total Revenue-2.91% surprise
$3.87BActual
Expected: $3.99B
vs. year ago +2.0%
Released Nov 04 · 7:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | 3,874 | 3,794 | +2.0% |
| Revenue detail — reported lines | |||
| └─Sportsbook revenue | 1,780 | 1,765 | +1.0% |
| └─iGaming revenue | 1,951 | 1,899 | +3.0% |
| └─Other revenue | 143 | 130 | +10.0% |
| └─US revenue | 1,455 | 1,368 | +6.0% |
| └─International revenue | 2,419 | 2,426 | 0.0% |
| └─UK and Ireland | 889 | 853 | +4.0% |
| └─Southern Europe and Africa | 836 | 743 | +13.0% |
| └─Asia Pacific | 349 | 363 | -4.0% |
| └─Central and Eastern Europe | 166 | 151 | +10.0% |
| └─Brazil | 60 | 87 | -31.0% |
| └─Other regions | 119 | 229 | -48.0% |
| Net loss | -1,148 | -789 | +46.0% |
| Loss per share | -4.90 | -3.91 | +25.0% |
| Adjusted loss per share | -0.18 | 1.64 | -111.0% |
Financial Outlook / Guidance
| Metric | FY2026 Outlook | |
|---|---|---|
| Guidance | Expected | |
| Group revenue | $17.335bn-$17.885bn (+7% YoY, prev. $17.91bn | $17.81BMiss -2.67% |
| Group adjusted EBITDA | $2.345bn-$2.645bn (-12% YoY, prev. $2.655bn | — |
| US total revenue | $7.165bn-$7.515bn (+5% YoY, prev. $7.4bn | — |
| US total adjusted EBITDA | $0.615bn-$0.815bn (-22% YoY, prev. $0.76bn | — |
| International revenue | $10.17bn-$10.37bn (+9% YoY, prev. $10.51bn | — |
| International adjusted EBITDA | $2.04bn-$2.14bn (-5% YoY, prev. $2.205bn | — |
| Unallocated corporate overhead | Approximately $(310)m | — |
| Interest expense, net | Approximately $(640)m | — |
| Depreciation and amortization excl. acquired intangibles | Approximately $(730)m | — |
| Capital expenditure | Approximately $(815)m | — |
| Transaction, restructuring and integration costs | Approximately $(620)m (prev. $(500)m | — |
| Share repurchases | Approximately $(250)m (complete | — |
FY2026 Outlook
- Group revenue
- Guidance$17.335bn-$17.885bn(+7% YoY, prev. $17.91bnExpected$17.81BMiss -2.67%
- Group adjusted EBITDA
- Guidance$2.345bn-$2.645bn(-12% YoY, prev. $2.655bnExpected—
- US total revenue
- Guidance$7.165bn-$7.515bn(+5% YoY, prev. $7.4bnExpected—
- US total adjusted EBITDA
- Guidance$0.615bn-$0.815bn(-22% YoY, prev. $0.76bnExpected—
- International revenue
- Guidance$10.17bn-$10.37bn(+9% YoY, prev. $10.51bnExpected—
- International adjusted EBITDA
- Guidance$2.04bn-$2.14bn(-5% YoY, prev. $2.205bnExpected—
- Unallocated corporate overhead
- GuidanceApproximately $(310)mExpected—
- Interest expense, net
- GuidanceApproximately $(640)mExpected—
- Depreciation and amortization excl. acquired intangibles
- GuidanceApproximately $(730)mExpected—
- Capital expenditure
- GuidanceApproximately $(815)mExpected—
- Transaction, restructuring and integration costs
- GuidanceApproximately $(620)m(prev. $(500)mExpected—
- Share repurchases
- GuidanceApproximately $(250)m(completeExpected—
Business Highlights
- ➤Dan Taylor set four immediate operational priorities as new CEO.
- ➤Launched the nationwide FanDuel One App and transitioned sports contracts to Crypto.com.
- ➤Expanded FanDuel Rewards to all sportsbook customers and extended Betprotect+ to NFL.
- ➤Launched sportsbook features including bet-sharing, Re-Use+ and Bet it Again markets.
- ➤Launched exclusive casino content including Huff 'n Even More Puff Hard Hat.
- ➤Achieved a strong Alberta launch following July market entry.
- ➤Completed refinancing, extending Revolving Credit Facility and Term Loan A maturities to May 2032.
- ➤Integrated Snai, Sky Bet and PokerStars; expected cost benefits exceed the $300m target.
- ➤Completed the next phase of migrations to the shared CEE technology platform.
- ➤Closed Betfair Brazil operations and retained Betnacional as the sole Brazil brand.
- ➤Paused the share repurchase program while prioritizing organic investment and deleveraging.
- ➤Targeting additional $500 million in gross operating-cost and capital-expenditure savings by 2029.
Management Commentary
Dan Taylor, CEO
“It is a privilege to take on the role of Flutter CEO. I know this business and the industry well, and I have a clear view of our strengths, where we need to improve, and where the biggest opportunities lie. Online betting and gaming is still a relatively young industry, with significant room to grow as markets develop and customer behavior evolves. Flutter enters its next phase from a position of strength. We have leading businesses in many of the world’s most attractive markets, great brands and scale advantages that few others can match. Our job now is to make more of those advantages. Our Q3 performance gives me confidence that we are moving in the right direction. In the US, our sportsbook improvement plan is delivering early but tangible progress in customer engagement and performance. Our International business continues to benefit from strong underlying momentum and the impact of our cost transformation programs. Looking ahead, our priorities are clear: build on our US leadership, capture the prediction markets opportunity, unlock more value from our International portfolio and simplify the way we operate. Delivering against those priorities will require faster execution, tough decisions and disciplined investment. I am confident our actions will make Flutter a stronger business in the long-term.”