The 10-second takeaway
For the quarter ended March 31 (Q1), Boyd Gaming beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share increased.
Gross margins dropped, operating margins increased, and net margins improved.
Boyd Gaming recorded revenue of $633.1 million. The 15 analysts polled by S&P Capital IQ expected sales of $626.7 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $564.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.10. The 17 earnings estimates compiled by S&P Capital IQ predicted $0.09 per share on the same basis. GAAP EPS were $0.07 for Q1 compared to -$0.04 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 39.7%, 950 basis points worse than the prior-year quarter. Operating margin was 12.1%, 280 basis points better than the prior-year quarter. Net margin was 0.9%, 150 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $624.6 million. On the bottom line, the average EPS estimate is $0.10.
Next year's average estimate for revenue is $2.49 billion. The average EPS estimate is $0.28.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 381 members out of 440 rating the stock outperform, and 59 members rating it underperform. Among 117 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 99 give Boyd Gaming a green thumbs-up, and 18 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boyd Gaming is hold, with an average price target of $7.86.
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