Brightstar Lottery (BRSL) Q2 2026 Earnings Call Transcript
Brightstar Lottery PLC (BRSL) reported Q2 2026 revenue of $584 million (+1.5% global same-store sales) and adjusted EBITDA of $286 million (+4%). Net income from continuing operations was $33 million versus a $96 million loss prior year. FY2026 guidance: revenue $2.50-$2.55B, adjusted EBITDA $1.16-$1.19B, CapEx $450-$475M. Net debt was $3.8B (3.24x).
How this was made
The 30-second read
Why it matters
The most tradable elements are the explicit FY2026 guidance ranges (revenue, adjusted EBITDA, capex), the stated Q3 organic revenue growth target, and management’s highlighted risks around Mega Millions weekly sales and multistate jackpot comps.
Market read
Traders can update models for FY2026 revenue, EBITDA, and capex, and assess near-term risk from jackpot-related comps and slower-than-hoped Mega Millions weekly sales.
What to watch
Net debt is still elevated (3.24x leverage), and service revenue amortization impacts adjusted EPS, so traders should separate cash generation from accounting effects.
Background
The article is a transcript-style summary of Brightstar Lottery PLC’s Q2 2026 earnings call, including financial results, FY2026 guidance, and operational updates across the U.S., Italy, and Brazil.
Ticker impact
Brightstar Lottery reported Q2 results and issued FY2026 guidance for revenue, adjusted EBITDA, and capex, plus Q3 organic growth expectations.
Near-term bias positive as traders reprice FY2026 EBITDA and FCF trajectory, but watch Q3 risk tied to multistate jackpot comps.
The article provides concrete Q2 figures and explicit FY2026 guidance ranges, plus a stated Q3 organic revenue growth target and a specific risk about Mega Millions weekly sales and jackpot comparison effects.
Market effects
Reinforces the lottery operator narrative that digital/iLottery penetration and retail tech upgrades can drive margin expansion and FCF conversion.
Highlights Italy and Brazil as key growth and investment theaters, with digital rollouts and concession payments affecting cash flow timing.
Provides a data point on how jackpot model changes and iLottery growth are translating into reported same-store sales and EBITDA.
Counterpoint
Despite positive guidance, the company flags that Mega Millions weekly sales are below historical run rate and that Q3 will face a difficult multistate jackpot comparison.
Key entities
- companyBrightstar Lottery PLC
Subject of the earnings call, providing Q2 results, FY2026 guidance, and operational milestones in iLottery, retail tech, and Brazil concession plans.
- executiveVincent Sadusky
CEO who discussed Mega Millions weekly sales risk and described the Sao Paulo opportunity and digital experience strategy.
- executiveMassimiliano Chiara
CFO who addressed Q3 comparison risk tied to multistate jackpot impacts and Powerball jackpot comps.
