Light & Wonder, Inc. (ASX: $LNW) reports record full year 2023 results

Light & Wonder, Inc. (ASX: $LNW) reported record full year results for the fiscal year ended December 31, 2023. The company achieved 11 consecutive quarters of consolidated revenue growth and a 16% increase for the full year. The healthy balance sheet and strong financial profile allowed the company to return $170 million of capital to shareholders through share repurchases during 2023.

Executive Commentary on Full Year 2023 Results

Matt Wilson, President and Chief Executive Officer of Light & Wonder, stated, '2023 was a banner year for Light & Wonder. Our businesses delivered double-digit growth across the board throughout the year, enabled by strategic investments and strong execution. We consistently leverage a differentiated product strategy and plan to capitalize on the significant growth opportunities ahead of us. I am thrilled with the momentum we continue to see in the business, and with our winning mentality, experience, and talent in place, we are well-positioned to continue our growth trajectory. I want to congratulate our team on a successful year and know the best is yet to come.' Oliver Chow, Chief Financial Officer of Light & Wonder, added, 'We continue to see healthy trends in the business and were able to capitalize on many of the opportunities presented to us in 2023 to deliver strong top- and bottom-line growth, both in the quarter and for the full year. Our teams continued to deliver quality earnings with improved metrics over the course of 2023. Moving forward, we will focus on driving sustainable growth and executing against our balanced and opportunistic capital allocation strategy with discipline, driving value for all stakeholders.'

Summary of Full Year 2023 Results and Outlook

Light & Wonder, Inc. (ASX: $LNW) achieved record full year results for the fiscal year ended December 31, 2023, with 11 consecutive quarters of consolidated revenue growth and a 16% increase for the full year. The company's healthy balance sheet and strong financial profile allowed it to return $170 million of capital to shareholders through share repurchases during 2023. The company's President and CEO, Matt Wilson, expressed confidence in the business's growth trajectory and its ability to capitalize on significant opportunities. The Chief Financial Officer, Oliver Chow, emphasized the focus on driving sustainable growth and executing against a balanced and opportunistic capital allocation strategy. Looking ahead, the company aims to continue its growth trajectory and drive value for all stakeholders.