The 10-second takeaway
For the quarter ended June 30 (Q2), Boyd Gaming missed slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share increased.
Gross margins dropped, operating margins shrank, and net margins improved.
Boyd Gaming logged revenue of $615.2 million. The 12 analysts polled by S&P Capital IQ expected revenue of $627.1 million on the same basis. GAAP reported sales were 7.1% higher than the prior-year quarter's $574.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.04. The 15 earnings estimates compiled by S&P Capital IQ averaged $0.10 per share. GAAP EPS were $0.01 for Q2 versus -$0.03 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 48.8%, 120 basis points worse than the prior-year quarter. Operating margin was 9.1%, 210 basis points worse than the prior-year quarter. Net margin was 0.2%, 70 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $635.9 million. On the bottom line, the average EPS estimate is -$0.02.
Next year's average estimate for revenue is $2.48 billion. The average EPS estimate is $0.11.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 376 members out of 434 rating the stock outperform, and 58 members rating it underperform. Among 105 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 86 give Boyd Gaming a green thumbs-up, and 19 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 $7.99.
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