Flutter Entertainment reduced its 2026 revenue and earnings outlook after Brazil-related charges and unfavourable sports results weighed on its third quarter. Revenue still increased modestly, but adjusted profitability fell sharply.
The group reported revenue of $3.874 billion for the three months to September 30, up 2% year on year. Flutter's earnings release showed adjusted EBITDA of $360 million, down 25%, and a net loss of $1.148 billion.
Flutter recorded $873 million in non-cash impairment charges related to Brazil, including $537 million attributable to its 56% interest in Flutter Brazil. iGaming Business reported that the company closed its local operations following the provisional measure restricting online betting and paused discretionary spending.
The company lowered the midpoint of full-year revenue guidance by $300 million to $17.61 billion. It also cut the adjusted EBITDA midpoint by $160 million to $2.495 billion. NEXT.io said the revision reflected both Brazil and adverse sports outcomes across the US and international businesses.
US revenue rose 6% to $1.455 billion, while international revenue was flat at $2.419 billion. Flutter said it would focus on cost savings, disciplined investment and faster execution as it responds to the changed regulatory and trading environment.
