logo
Share SHARE
FONT-SIZE Plus   Neg

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

Boyd Gaming Corp. (BYD) 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

Quick Facts

Editors Pick
Facebook Inc. (FB), Wednesday reported a jump in profit for the second quarter, as the social networking giant's bottom line continues to be driven by soaring ad revenues. Both earnings and revenues trumped Wall Street expectations, sending shares up by 6 percent in the extended hours. Menlo Park,... Boeing Co.(BA) reported a loss for the second-quarter 2016 compared to profit in the prior year, reflecting 787 cost reclassification and charges on the 747 program and the KC-46 Tanker program, partially offset by solid execution and higher volume. It cut its profit outlook for fiscal year 2016, while it reaffirmed annual revenue guidance. Automaker Fiat Chrysler Automobiles NV on Wednesday reported a 25 percent increase in profit for the second quarter from last year. However, quarterly net revenues and worldwide shipments declined from last year.
comments powered by Disqus
Follow RTT