Flutter Entertainment plc (FLUT) Earnings
Flutter Entertainment plc is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $0.50. FLUT has beaten EPS estimates in 6 of its last 9 reported quarters (average surprise +65.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $1.09 | $1.22 | +11.9% | $4.3B | +1.6% |
| Nov 12, 2025 | $0.61 | $1.64 | +169.7% | $3.8B | -0.8% |
| Aug 7, 2025 | $2.24 | $2.95 | +31.7% | $4.2B | +1.4% |
| Mar 4, 2025 | $1.96 | $2.94 | +50.0% | $3.8B | +1.2% |
| Aug 12, 2022 | $1.23 | $1.18 | -4.1% | $4.1B | +4.4% |
| Mar 1, 2022 | $1.38 | $1.08 | -21.7% | $4.0B | -2.2% |
| Aug 10, 2021 | $2.25 | $2.37 | +5.3% | $4.2B | +6.9% |
| Mar 2, 2021 | $2.24 | $2.56 | +14.3% | $4.0B | +12.7% |
| Aug 27, 2020 | $2.50 | $2.28 | -8.8% | $3.0B | +7.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Management changes: Amy Howe leaving, Dan Taylor in expanded role, Christian Janetsky's contributions. • US sportsbook: Encouraging signs in underlying growth, outlined sportsbook and generosity improvement plans, launched various promotions and products. • iGaming: FanDuel had strong growth, PokerStars customers migrated to Fangio platform. • Prediction markets: Limited cannibalization impact, viewed as incremental customer acquisition opportunity, launched Fangio One app. • International segment: Italy's strong performance, UK iGaming growth with some challenges, Brazil's encouraging performance, APAC's modest growth. • Capital allocation: Disciplined policy, prioritizing organic investment and strategic investment, returning $250 billion to shareholders, focus on deleveraging and cost efficiency.
Guidance
Group revenue is now expected to be $18.3 billion at midpoint, with adjusted EBITDA of $2.865 billion for the year, representing 12% 1% year-over-year growth, respectively. Full-year guidance unchanged on an underlying basis, adjusting only for unfavourable Q1 sports results in the US and international and launch costs in Arkansas not previously included. No change to full year 2026 capital expenditure guidance. Q2 trading in line with previous expectations with some phasing adjustments.
Segment performance
In the US, overall amps were 1% behind last year and revenue grew 6%. In iGaming, FanDuel had AMS at 10% with revenue growth of 19% year over year. Prediction markets had modest revenues. In Italy, performance was extremely strong with CSAO's MyCombat product driving parlay penetration and structural margin. In the UK, strong double-digit iGaming revenue growth was delivered across Paddy Power, Tombola, and Betfair, but Skybet's performance was behind. In Brazil, Amps were over 40% higher year-over-year. In APAC, sportsbook amps and handle had modest year-over-year growth, and racing was ahead of expectations.
Risks & headwinds
Fast-moving and complex regulatory environment for prediction markets making product delivery timescales challenging. Legal environment around traditional markets with uncertainty. Potential impact of prediction markets on sportsbook growth to monitor. Market competitiveness and tax changes impacting gross margin in the US.
Analyst Q&A
Q: Regarding management changes and Q2 expectations,
A: Management changes are to put in place new leadership, Q2 trading in line with previous expectations with some phasing adjustments.
Q: On prediction legal environment and investment spend,
A: Team made progress, launching market-making capabilities, continuing to invest, and focusing on core product.
Q: On market making and toggling net win margin vs players,
A: Market making showcases pricing capabilities, net win margin driven by bet mix and balance with generosity.
Q: On cadence in US and prediction market investment,
A: Sequential improvement in US, not upping prediction market investment but seeing opportunities.
Q: On prediction market product development bottleneck and revenue guidance,
A: Challenges around content access, not updating guidance at this stage.
Q: On second half ramp and NBA trends,
A: Seeing positive NBA trends, expecting structural margin expansion and loyalty program benefits.
Q: On US promotions and prediction market CAC inflation,
A: US promotions showing sequential improvement, no inflationary impact on prediction market CAC.
Q: On prediction market spend cadence and iGaming performance,
A: Anticipating spend in second half, iGaming performance strong with market penetration still low.
Q: On sportsbook diagnosis and market approach,
A: Focus on customer first, improving product features and loyalty program.
Q: On UK sports handle and improvements,
A: Skybet causing drag but seeing sequential improvements.
Q: On appetite for M&A and portfolio optimization,
A: Open to M&A if prices right, focusing on integrations and deleveraging.
Q: On FCM license and prediction market revenue contribution,
A: Focus on building great sports solution, no detail on prediction market revenue contribution yet.
Q: On cross-sell from Sportsbook to iCasino and market-making impact,
A: Cross-sell impacted by lower sports AMPs, market-making small scale now with plans to ramp up.
Q: On Polymarket partnerships impact,
A: One app allows dynamic access, leveraging national advertising and relationships.