A Jefferies analyst has become more confident in Light & Wonder's product outlook after the Global Gaming Expo, although his third-quarter forecasts remain close to market expectations. Kai Erman projected quarterly cash flow of AU$382 million, slightly below the AU$386 million consensus, and earnings per share of AU$1.97, above the AU$1.92 consensus.
Erman raised his expectations for US and international machine sales after reviewing demand for the Lightwave Solar cabinet. He also cited the performance of Cosmic Dual products in Australia, while trimming estimates for the SciPlay division, according to CDC Gaming.
The analyst expects stronger product momentum to be more visible in the fourth quarter and during 2027. His outlook includes roughly 500 premium-machine installations per quarter next year and the possibility of improved US slot sell-through, but those figures are forecasts rather than company guidance.
Light & Wonder is due to publish its third-quarter results on November 4 in the United States, according to its investor-relations calendar. Erman also said debt reduction appears to remain the near-term priority and that limited visibility around share repurchases persists until leverage moves lower.
