NASDAQ$LNWO
Light & Wonder Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Light & Wonder reported strong Q1 2022 results with revenue up 26% year-over-year and significant debt reduction following the sale of the Lottery business.
Light & Wonder reported a strong first quarter with a 26% increase in revenue to $572 million. The company closed the sale of its Lottery Business for $5.6 billion, significantly reducing its debt. They also returned $140 million to shareholders through share repurchases.
- Consolidated revenue from continuing operations increased by 26% year-over-year to $572 million.
- The sale of the Lottery Business generated $5.6 billion in gross cash proceeds.
- The company reduced the principal amount of outstanding debt from $8.9 billion to $4.0 billion.
- Returned $140 million to shareholders through the repurchase of 2.4 million shares.
Headline financials
Revenue & EPS history
Light & Wonder · Revenue · Quarterly
$572M
Revenue by segment
Light & Wonder · $572M total across 3 segments · Q1 2022
- Gaming$355M+45.5%62.1%
- SciPlay$158M+4.6%27.6%
- iGaming$59M—10.3%
Forward guidance
Light & Wonder anticipates achieving a net debt leverage ratio within its target range of 2.5x to 3.5x following the completion of the sale of its Sports Betting Business, which is expected to occur in the third quarter of 2022.
Tailwinds
- Expected to achieve a net debt leverage ratio within the target range of 2.5x to 3.5x.
- Sale of Sports Betting Business expected to be completed in Q3 2022.
- Significant debt reduction and refinancing completed in April 2022.
- Annualized cash interest savings of approximately $225 million expected.
- Focus on operations and growth strategy to drive operational excellence.
Headwinds
- Sale of the Sports Betting Business is subject to regulatory approvals and other customary closing conditions.
- The COVID-19 pandemic continues to impact the industry.
- Risks related to the intended sale of the Austria Business.
- Inability to successfully execute the new strategy and rebranding initiative.
- Slow growth of new gaming jurisdictions and declines in the replacement cycle of gaming machines.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.1%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+0.0%
Avg return
30 days after
51%
35 / 68 earnings
Positive
+41.5%
Q2 2017
Best reaction
-19.5%
Q1 2014
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | +1.0% | -1.2% | |
| Q4 2025 | -2.7% | -7.6% | -14.6% | |
| Q3 2025 | +8.7% | +22.0% | +33.2% | |
| Q1 2025 | -14.0% | -5.3% | -7.1% | |
| Q4 2024 | +6.9% | +7.9% | -12.3% | |
| Q3 2024 | -10.9% | -10.0% | -9.8% | |
| Q2 2024 | +1.6% | -0.4% | +4.3% | |
| Q1 2024 | -6.4% | -5.9% | -0.2% | |
| Q4 2023 | +2.5% | +7.8% | +7.4% | |
| Q3 2023 | +8.9% | +8.9% | +5.4% | |
| Q2 2023 | +2.4% | +3.9% | +4.3% | |
| Q1 2023 | +2.5% | +4.4% | +13.2% | |
| Q4 2022 | +0.9% | -0.2% | -4.1% | |
| Q3 2022 | +3.0% | +9.2% | +13.8% | |
| Q2 2022 | +3.1% | +8.2% | -10.8% | |
| Q1 2022 | +0.3% | +9.2% | +12.1% | |
| Q4 2021 | -1.4% | -5.6% | -6.6% | |
| Q3 2021 | -2.3% | -8.8% | -20.1% | |
| Q2 2021 | +5.1% | +9.1% | +10.8% | |
| Q1 2021 | -0.1% | +4.3% | +34.4% | |
| Q4 2020 | +6.8% | -1.2% | -17.7% | |
| Q3 2020 | -0.2% | -1.2% | +7.6% | |
| Q2 2020 | +5.0% | +5.8% | +21.7% | |
| Q1 2020 | -11.4% | -10.6% | +27.4% | |
| Q4 2019 | -16.4% | -17.6% | -83.7% | |
| Q3 2019 | +20.6% | +16.6% | +5.5% | |
| Q2 2019 | +0.5% | -1.7% | -9.6% | |
| Q1 2019 | +8.6% | +6.6% | -3.5% | |
| Q4 2018 | +9.8% | +11.5% | -19.9% | |
| Q3 2018 | +4.0% | -4.9% | -20.9% | |
| Q2 2018 | -17.7% | -27.6% | -36.9% | |
| Q1 2018 | -3.4% | -3.1% | +11.1% | |
| Q4 2017 | -12.1% | -12.5% | -9.6% | |
| Q3 2017 | +1.7% | +1.4% | +11.7% | |
| Q2 2017 | +41.5% | +44.1% | +29.4% | |
| Q1 2017 | +3.7% | -0.4% | +4.1% | |
| Q4 2016 | +7.4% | +3.1% | +12.9% | |
| Q3 2016 | +0.9% | +7.0% | +31.3% | |
| Q2 2016 | -11.8% | -13.1% | -12.6% | |
| Q1 2016 | -6.7% | — | — | |
| Q4 2015 | +38.7% | — | — | |
| Q3 2015 | -18.8% | — | — | |
| Q2 2015 | -15.9% | — | — | |
| Q1 2015 | -4.8% | — | — | |
| Q4 2014 | -10.6% | — | — | |
| Q3 2014 | +22.9% | — | — | |
| Q2 2014 | -2.7% | — | — | |
| Q1 2014 | -19.5% | — | — | |
| Q4 2013 | +18.0% | — | — | |
| Q3 2013 | +4.1% | — | — | |
| Q2 2013 | +7.8% | — | — | |
| Q1 2013 | -6.2% | — | — | |
| Q4 2012 | -6.9% | — | — | |
| Q3 2012 | -16.2% | — | — | |
| Q2 2012 | -19.4% | — | — | |
| Q1 2012 | +2.4% | — | — | |
| Q4 2011 | -15.8% | — | — | |
| Q2 2011 | -15.8% | — | — | |
| Q3 2011 | +6.3% | — | — | |
| Q1 2010 | -0.4% | — | — | |
| Q1 2011 | +3.4% | — | — | |
| Q4 2010 | +5.5% | — | — | |
| Q4 2008 | +5.5% | — | — | |
| Q2 2010 | +5.5% | — | — | |
| Q3 2010 | -1.1% | — | — | |
| Q3 2009 | -1.1% | — | — | |
| Q2 2009 | -4.7% | — | — | |
| Q4 2009 | -4.7% | — | — |
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