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
Packaged food producer ConAgra Brands Inc. reported Thursday higher net profit in its fourth quarter with margin strength. Net sales, meanwhile, declined from last year on weak volume. Looking ahead, for fiscal 2018, the company projects higher adjusted earnings and lower to flat sales. The company also reiterated its three-year fiscal 2020 financial algorithm. Best Buy announced Wednesday its plans to introduce Amazon Alexa and Google Home experiences to its 700 locations across the U.S. starting next month as part of its strategy of pushing smart home technology. A nationwide rollout will be complete by the end of the year. The electronics retailer will expand space at selected stores to better showcase how Amazon's Echo and Google Home interact.. So far this year, 23 novel drugs have already received FDA approval. Now let's take a look at the biotech stocks waiting to hear from the FDA in July.
comments powered by Disqus
Follow RTT