Flutter CEO Exits as U.S. Sportsbook Slump Triggers $296M Loss, Guidance Cut
FLUT is trading near its 52-week low of $91.52 (8.7% above the low).
Summary
Flutter Entertainment announced Q2 2026 results, reporting a $296M loss compared to a $37M profit a year ago, and cut full-year revenue guidance to $17.91B from $18.31B. CEO Peter Jackson is stepping down, with President Dan Taylor taking over on October 1. The U.S. business drove the weakness, with sales down 6% and sportsbook revenue plunging 15% due to unfavorable sports results and customer churn, while average monthly players fell 11%. Adjusted EPS of 49 cents missed the 54-cent consensus. The leadership change follows the May departure of FanDuel CEO Amy Howe and a pause in share buybacks. Shares dropped 5.5% premarket on the news.
At the time of this announcement, FLUT was trading at $99.50 on NYSE in the Trade & Services sector, with a market capitalization of approximately $18.3B. The 52-week trading range was $91.52 to $313.69. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.