International Game Technology PLC (NYSE:IGT) Q2 2024 Earnings Conference Call July 30, 2024 8:00 AM ET

Company Participants

James Hurley - Senior Vice President, Investor Relations
Vince Sadusky - Chief Executive Officer
Max Chiara - Chief Financial Officer

Conference Call Participants

Jeffrey Stantial - Stifel
Barry Jonas - Truist Securities
Chad Beynon - Macquarie
David Katz - Jefferies
Joe Stauff - Susquehanna
David Hargreaves - Barclays

Operator

Thank you for standing by, and welcome to the International Game Technology Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I'd now like to turn the call over to James Hurley, Senior Vice President, Investor Relations. You may begin.

James Hurley

Thank you, Rob, and thank you all for joining us on IGT's second quarter 2024 conference call, which is hosted by Vince Sadusky, our Chief Executive Officer; and Max Chiara, our Chief Financial Officer. After some prepared remarks, Vince and Max will be available for your questions.

During today's call, we will be making some forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees, and our actual results may differ materially from those expressed or implied in the forward-looking statements. The principal risks and uncertainties that could cause our results to differ materially from our current expectations are detailed in our latest earnings release and in our SEC filings.

During this call, we will discuss certain non-GAAP financial measures. You'll find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP measures in our press release, slides accompanying this webcast and our filings with the SEC, each of which is posted on our Investor Relations website.

And now I'll turn the call over to Vince.

Vince Sadusky

Thank you, Jim, and welcome to everyone on the call. We are reporting strong first half results today with over $2 billion of revenue and an operating margin of 23%, in line with the upgraded outlook provided in May.

Net of separation divestiture costs, we achieved record operating income and adjusted EBITDA, reflecting strong performance from both the Global Lottery and Gaming and Digital segments. We are delivering these results, while maintaining a solid commitment to good corporate citizenship, including the publication of our 17th Annual Sustainability Report.

IGT has firmly established itself as a leader in global sustainability through environmental, social and governance initiatives. We look forward to continuing to build on our achievements.