Earnings Releases·Nov 4, 2026, 6:55 AM ET

Flutter Entertainment plc — Q3 2026 Earnings Summary

**Financial Results:** Group revenue rose 2% YoY to $3,874 million, but net loss widened 46% to $1,148 million (including an $873 million non-cash Brazil impairment and $105 million legal contingencies), while adjusted EBITDA fell 25% YoY to $360 million and leverage increased to 4.6x.
**Guidance Reduction:** Full-year 2026 revenue and adjusted EBITDA midpoints were cut by $300 million and $160 million respectively to $17.61 billion and $2.495 billion, driven by Brazil operations closure, higher restructuring costs ($620 million), and adverse sports results.
**Strategic Shifts:** The share repurchase program is paused indefinitely to prioritize deleveraging toward a 2.0–2.5x target, while management focuses on simplifying operations, exiting Brazil, and capturing prediction market opportunities.
**Segment Performance:** US revenue grew 6% with FanDuel maintaining market leadership, whereas International revenue was flat due to a 31% revenue decline in Brazil and regulatory exits in India, despite growth in UKI and Southern Europe.