BUZZ-Australia's Lottery Corporation falls; Citi expects 2H26 earnings to miss estimates
S&P Global SPGI | 0.00 |
Adds share moves in bullet 1, updated YTD figures in bullet 8
** Shares of Lottery Corporation TLC.AX down as much as 2.6% at A$5.28
** Citi says Visible Alpha (VA) consensus 2H26 EBIT estimate for Lottery Corp is optimistic, expects company to miss VA estimates by 10%
** Brokerage says actual lottery turnover weakened in May and fewer jackpot lots in June reduced lottery ticket buyers
** Says co's lottery game, Powerball like-for-like (LFL) sales were 7% as at May end, down from 8% in April and Oz Lotto's LFL sales are down 10% year-on-year over the last six months as at May end
** Expects the weakening consumer environment to place further pressure on company's LFL sales
** Sees company's FY27 Group EBIT estimates 5% below VA consensus, reflecting this weakness
** Citi maintains "neutral" stock rating, keeps A$5.1 PT
** YTD, Lottery Corporation up 2.8%, including the day's moves
($1 = 1.3949 Australian dollars)
