Boyd Gaming Corporation (BYD) is benefiting from its focus on expansion initiatives and consideration of Las Vegas’ local market for driving its portfolio accompanied by encouraging online betting prospects.This multi-jurisdictional gaming company showcases a VGM Score of A, backed by a Value Score of A and a Growth Score of B. This positive trend signifies bullish analysts’ sentiments and robust fundamentals in the near term.However, shares of this Zacks Rank #3 (Hold) company have lost 17.3% in the year-t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________________________________ FORM 10-Q ____________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-12882 ...

Boyd Gaming Corporation (BYD) reported mixed first-quarter 2024 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. The top and the bottom line declined on a year-over-year basis.During the quarter, the company’s performance was impacted by January's severe winter weather in the Midwest and South and a softer Las Vegas locals market. The combined effect of these challenges fell within the anticipated range, aligning with earlier projections of $20-$25 million in EBITDA ...

Boyd Gaming Corporation (NYSE:BYD) Q1 2024 Earnings Conference Call April 25, 2024 5:00 PM ET Company Participants David Strow - Vice President, Corporate Communications Keith Smith - President and Chief Executive Officer Josh Hirsberg - Executive Vice President and Chief Financial Officer Conference Call Participants Steve Wieczynski - Stifel Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Barry Jonas - Truist Securities Dan Politzer - Wells Fargo Shaun Kelley - Bank of America Chad Beynon - Macquari ...

For the quarter ended March 2024, Boyd Gaming (BYD) reported revenue of $960.52 million, down 0.4% over the same period last year. EPS came in at $1.51, compared to $1.71 in the year-ago quarter.The reported revenue represents a surprise of +1.40% over the Zacks Consensus Estimate of $947.26 million. With the consensus EPS estimate being $1.57, the EPS surprise was -3.82%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Boyd Gaming (BYD) came out with quarterly earnings of $1.51 per share, missing the Zacks Consensus Estimate of $1.57 per share. This compares to earnings of $1.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.82%. A quarter ago, it was expected that this casino operator would post earnings of $1.43 per share when it actually produced earnings of $1.66, delivering a surprise of 16.08%.Over the last four quarters, the compa ...

(1) See footnotes at the end of the release for additional information relative to non-GAAP financial measures. 1 Operations Review Exhibit 99.1 During the quarter, our Las Vegas Locals segment faced comparisons to record results in the prior year as well as competitive pressures in the Las Vegas Locals market. The Downtown Las Vegas segment also had challenging year-over-year comparisons as well as reduced pedestrian traffic in downtown Las Vegas. Results in the Midwest & South segment were impacted by sev ...

Analysts on Wall Street project that Boyd Gaming (BYD) will announce quarterly earnings of $1.57 per share in its forthcoming report, representing a decline of 8.2% year over year. Revenues are projected to reach $947.24 million, declining 1.7% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period ...

Boyd Gaming Corporation (BYD) is scheduled to report first-quarter 2024 results on Apr 25. In the last reported quarter, the company delivered an earnings surprise of 16.1%.How Are Estimates Placed?The Zacks Consensus Estimate for first-quarter earnings per share (EPS) is pegged at $1.57, indicating a fall of 8.2% from $1.71 reported in the year-ago quarter.For revenues, the consensus mark is at nearly $0.9 billion. The metric suggests a decline of 1.7% from the year-ago quarter’s figure. Let's take a look ...

Core Viewpoint - Boyd Gaming Corporation (BYD) is experiencing growth driven by strong visitation, new property openings, and refurbishments, alongside solid contributions from its Online segment, although high costs remain a concern [1][4]. Growth Drivers - The local market in Las Vegas is a significant growth driver for BYD, with a reported 5% increase in Nevada tourism and a 20% growth in the convention business in 2023 [2] - Average daily room rates in Southern Nevada improved by over 12% in 2023, supported by upcoming events like the Super Bowl and a busy convention calendar [2] - Boyd Gaming is expanding its portfolio through capital investments and acquisitions, with ongoing expansion plans for the Wilton Rancheria Tribe property and interest in further expansions at Gold Coast, Blue Chip, Ameristar St. Charles, and Valley Forge in 2024 [3] Online Segment Performance - The Online segment reported an adjusted EBITDAR of $62.3 million in 2023, reflecting a 56.5% year-over-year growth, with expectations for 2024 EBITDAR in the range of $60-$65 million [4] - The introduction of sports betting in Ohio and the relaunch of Starts branded online casinos in Pennsylvania and New Jersey are expected to contribute positively to the Online segment [4] Concerns - Boyd Gaming faces challenges from rising costs, including wages, utilities, and property insurance, with total operating costs increasing to $2.84 billion in 2023 from $2.58 billion the previous year [6] - Specific expense increases include food and beverage (4.1%), room (7.5%), online (67.8%), and selling, general and administrative expenses (4.3%) [6] - The company plans to monitor economic conditions to assess the impacts of interest rate hikes and inflation, indicating that cost pressures may persist into 2024 [6]