Boyd Gaming Earnings: Here’s Why Investors are Happy Now

Boyd Gaming Corp. (NYSE:BYD) had a loss and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 8.38%.

Boyd Gaming Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $0.0 in the quarter versus EPS of $0.04 in the year-earlier quarter.

Revenue: Rose 20.07% to $738.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Boyd Gaming Corp. reported adjusted EPS loss of $0 per share. By that measure, the company missed the mean analyst estimate of $0. It missed the average revenue estimate of $740.33 million.

Quoting Management: “We are making significant progress toward our strategic goals of strengthening our balance sheet and positioning ourselves for continued growth,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “Operating efficiencies and effective marketing programs drove solid growth across our Las Vegas properties. And Borgata posted year-over-year gains as well, after factoring out the impact of a tax charge. Our Company is moving in the right direction, and I am optimistic about the outlook for our business.”

Key Stats (on next page)…

Revenue increased 0.23% from $736.98 million in the previous quarter. EPS decreased to $0.0 in the quarter versus EPS of $0.01 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.05 to a loss $0.04. For the current year, the average estimate is a loss of $0.13, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)