Pinnacle Entertainment Earnings: Everything You Must Know Now

Pinnacle Entertainment Inc. (NYSE:PNK) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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Pinnacle Entertainment Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 24.24% to $0.25 in the quarter versus EPS of $0.33 in the year-earlier quarter.

Revenue: Rose 6.71% to $312.64 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Pinnacle Entertainment Inc. reported adjusted EPS income of $0.25 per share. By that measure, the company beat the mean analyst estimate of $0.20. It missed the average revenue estimate of $315.97 million.

Quoting Management: Anthony Sanfilippo, President and Chief Executive Officer of Pinnacle Entertainment, commented, “The operating environment was challenging in the 2013 first quarter, with economic pressure from the payroll tax increase and the delay in tax refund checks dampening business volumes at our casinos. We worked diligently to control costs and increase marketing and operating efficiency across the system during the first quarter, which helped reduce the impact of soft demand trends on the cash flow our assets produce.”

Key Stats (on next page)…

Revenue increased 3.65% from $301.62 million in the previous quarter. EPS increased 733.33% from $0.03 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.25 to a profit $0.23. For the current year, the average estimate has moved down from a profit of $1.01 to a profit of $0.83 over the last ninety days.

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

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