Shares of Flutter Entertainment PLC tumbled 6.64% in pre-market trading Wednesday after the company reported second-quarter earnings that fell short of analyst expectations and announced a leadership change.
The gaming giant posted adjusted earnings per share of $0.49, missing the consensus estimate of $0.61. Revenue came in at $4.326 billion, slightly above expectations of $4.262 billion, but the bottom-line miss weighed heavily on the stock. The company also issued guidance reflecting a net investment of approximately $270 million in EBITDA to strengthen FanDuel's sportsbook momentum, along with an estimated $50 million EBITDA impact from NFL schedule changes.
Adding to the uncertainty, Flutter announced that CEO Peter Jackson will step down from his role and the board on September 30, 2026, with Dan Taylor appointed as Group CEO effective October 1. Jackson will remain as an advisor through the end of the year.