logo
Share SHARE
FONT-SIZE Plus   Neg

Boyd Gaming Turns To Profit In Q1, Tops Estimates - Quick Facts

Boyd Gaming Corp. (BYD: Quote) on Tuesday reported that it turned to profit in first quarter benefited by higher revenues partly due to the acquisition of IP Casino Resort Spa. Quarterly earnings per share and top line beat analysts' estimates.

President and Chief Executive Officer Keith Smith said, "Our first quarter results were led by strong performances at our operations outside of Nevada, with double-digit EBITDA growth at a majority of these properties."

For its first quarter, net income attributable to the company was $5.85 million or $0.07 per share, compared to a net loss of $3.52 million or $0.04 per share last year.

Adjusted earnings, which excluded certain items, were $8.4 million or $0.10 per share, compared to a loss of $1.2 million or $0.01 per share a year ago. On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.09 per share. Such estimates typically exclude special items.

Net revenues increased 12.1 percent to $633.08 million from last year's $564.95 million. Analysts projected revenues of $625.85 million.

Total Adjusted EBITDA rose 19.7 percent to $133.8 million.

Smith added, "We were particularly pleased that the IP was accretive to EPS during the first full quarter since we acquired it, generating significant EBITDA growth even before most synergies have been fully realized. These results were only a preview of the IP's full potential, and show the tremendous value of this acquisition."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Tinder has launched a premium version of its popular dating app called Tinder Plus, which will cost users $9.99 each month, and double if they are over 30. In the US, Tinder Plus costs users $9.99 a month for users under 30 years, and $19.99 if users are over 30. Meanwhile, users under the age... European soft drinks and fruit juices bottler Refresco Gerber is pursuing initial public offering in Amsterdam to support its future growth. The firm which has been owned by private equity plans to list on Euronext. A new study shows that teens are able to easily buy e-cigarettes Online despite age restrictions. Teens could successfully have the nicotine-free e-cigarettes delivered to their doorsteps 94 percent of the time. Meanwhile, the sales of e-cigarettes, or vaping smokes, to young people under age 18 are already banned in a total of 41 states in the U.S.
comments powered by Disqus
RELATED NEWS
Trade BYD now with 
Follow RTT