Light & Wonder Q3 revenue falls 2%
LNW•Light & Wonder’s third-quarter revenue fell 2% year over year, while net income and adjusted EPS each rose 17%. The company expects fiscal 2026 Consolidated AEBITDA growth toward the lower end of the mid-to-high single digits.
1. Quarterly results
Light & Wonder reported a 2% year-over-year decline in third-quarter revenue. Net income and adjusted EPS each rose 17%, driven by margin strength and operational efficiencies; adjusted EBITDA was $383 million.
2. Fiscal 2026 outlook
The company expects fiscal 2026 Consolidated AEBITDA growth toward the lower end of the mid-to-high single digits. It anticipates Adjusted NPATA will grow faster than Consolidated AEBITDA, and EPSa faster than Adjusted NPATA.
3. Gaming operations
Recurring revenue from Gaming operations and iGaming was a primary growth driver, supported by installed-base expansion and content strength. North American Gaming operations’ premium installed base grew for the 25th consecutive quarter, adding 2,657 units year over year, while Grover units also increased.
