2024-03-12 12:08:06 ET
International Game Technology PLC (IGT)
Q4 2023 Earnings Conference Call
March 12, 2024, 08:00 AM ET
Company Participants
James Hurley - SVP, IR
Vincent Sadusky - CEO
Massimiliano Chiara - CFO
Conference Call Participants
Barry Jonas - Truist Securities
Chad Beynon - Macquarie
Jeff Stantial - Stifel
Domenico Ghilotti - EQUITA
David Katz - Jefferies
Presentation
Operator
Hello, and welcome to the International Game Technology PLC Q4 '23 and Fiscal Year 2023 Earnings Call. [Operator Instructions]
I will now turn the call over to Jim Hurley, Senior Vice President, Investor Relations. Please go ahead.
James Hurley
Thank you, Sara, and thank you all for joining us on IGT's Q4 and full year 2023 conference call, which is hosted by Vince Sadusky, 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 to our Investor Relations website.
And now, I'll turn the call over to Vince Sadusky.
Vincent Sadusky
Thank you, Jim, and hello to everyone, joining us today.
We delivered a strong finish to 2023, with Q4 operating income growing 11%, yielding 160 basis points of operating margin expansion and strong free cash flow generation. This enabled us to meet our fiscal year 2023 financial goals, which were raised 2 times during the year.
In fact, the growth across our Global Lottery, Global Gaming and PlayDigital segments contributed to record breaking achievements of $1 billion in operating income, $1.8 billion of EBITDA, and a 41.3% EBITDA margin....
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International Game Technology PLC (IGT) Q4 2023 Earnings Call Transcript