Flutter shares rise despite guidance cut as FanDuel CEO ousted

(Alliance News) - Flutter Entertainment PLC on Wednesday reported higher first quarter revenue but cut 2026 guidance, citing in part "unfavorable first quarter sports results".

Shares in the New York-based sports betting company were up 2.9% after hours in New York on Wednesday. They had earlier closed down 4.1% at USD99.11. Shares are down 60% over the last 12 months.

Flutter said net income plunged 18% to USD209 million in the March quarter from USD335 million a year ago. Earnings per share fell to USD1.23 from USD1.57.

Revenue rose 17% to USD4.30 billion from USD3.67 billion a year ago. Monthly players declined 3.5% to 14.4 million from 14.9 million.

Earlier on Wednesday, Flutter subsidiary FanDuel ousted Chief Executive Amy Howe after fives years at the helm, CNBC reported.

FanDuel president Christian Genetski will take over, Flutter confirmed in its report.

Commenting on the current quarter, Flutter said: "April performance on an underlying basis was in line with our expectations across both the US and International. Additionally, we have been pleased with the performance of our early Arkansas state launch, which was not incorporated in our prior outlook and therefore will add USD35 million in investment costs for 2026."

For 2026, Flutter now expects midpoint revenue of USD18.31 billion and adjusted earnings before interest, taxes, depreciation and amortisation of USD2.87 billion. This is down from USD18.40 billion in revenue and USD2.97 billion in adjusted Ebitda guidance previously.

Flutter said this is due to unfavorable first quarter sports results; the new state launch costs in Arkansas; and the change in reporting for PokerStars North America, though the latter has no impact on an overall group basis.

Despite the revision, 2026 revenue and adjusted Ebitda are still expected to grow by 12% and 1%, respectively, from 2025.

By John Robaina, Alliance News reporter

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