Boyd Gaming Earnings Cheat Sheet: Expected Growth for Remainder of 2011

Boyd Gaming Corporation (NASDAQ:BYD) swung to a loss in the first quarter, missing analysts’ forecast. Boyd Gaming Corporation owns and operates casino entertainment facilities located in Nevada, Mississippi, Illinois, Louisiana and Indiana.

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Boyd Gaming Earnings Cheat Sheet for the First Quarter

Results: Swung to a loss of $3.5 million (4 cents/diluted share) in the quarter. The Boyd Gaming Corporation had a net income of $8.4 million or 10 cents per share in the year earlier quarter.

Revenue: Rose 36.1% to $564.9 million YoY.

Actual vs. Wall St. Expectations: BYD reported an adjusted net loss of of one cent/share. By that measure, the company fell short of mean estimate of a profit of one cent/share. Estimates ranged from a loss of 5 cents per share to a profit of 5 cents per share.

Quoting Management: Commenting on the quarter, Keith Smith, President and Chief Executive Officer of Boyd Gaming, said, “We continued to see improvement in our business during the quarter. Our wholly-owned operations achieved quarterly EBITDA growth for the first time since the recession began, giving us confidence that we have reached a turning point for our Company. We expect to see further growth through the remainder of this year.”

Competitors to Watch: MGM Resorts International. (NYSE:MGM), Wynn Resorts, Limited (NASDAQ:WYNN), Las Vegas Sands Corp. (NYSE:LVS), Pinnacle Entertainment, Inc (NYSE:PNK), Century Casinos, Inc. (NASDAQ:CNTY), Ameristar Casinos, Inc. (NASDAQ:ASCA), Trans World Corporation (TWOC), Monarch Casino & Resort, Inc. (NASDAQ:MCRI), Asia Entertainment & Resources Ltd. (NASDAQ:AERL), and Archon Corporation (ARHND)

Stock Performance: Shares of BYD are up 8 cents to $9 per share in pre-market trading.


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