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
A federal judge has dismissed a lawsuit that accused Starbucks (SBUX) of cheating customers by "under-filling" its cold beverages. The lawsuit alleged that Starbucks is deceiving its customers by serving iced drinks with too much ice cubes and less coffee "than advertised." "If children have figured... Apparel retailer Guess? Inc. (GES) on Wednesday reported an increase in profit for the second quarter, despite lower-than-expected revenues reflecting a one-time gain. Earnings for the quarter easily trumped Wall Street estimates, sending the company's stock up over 14 percent in extended hours. Guess'... HP Inc. (HPQ) on Wednesday reported a drop in profit for the third quarter hurt largely by a 4 percent drop in revenues as the company continues to struggle with weak demand for printers. Shares of the computer and printer maker slipped 5 percent in extended session after it detailed a weak fourth quarter...
comments powered by Disqus
Follow RTT