Boyd Gaming
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Boyd Gaming missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Revenue details
Boyd Gaming logged revenue of $613.3 million. The 16 analysts polled by S&P Capital IQ expected revenue of $629.7 million on the same basis. GAAP reported sales were 3.9% higher than the prior-year quarter's $590.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at -$0.11. The 16 earnings estimates compiled by S&P Capital IQ averaged -$0.02 per share. GAAP EPS were -$0.18 for Q3 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.
Margin details
For the quarter, gross margin was 47.5%, 180 basis points worse than the prior-year quarter. Operating margin was 7.8%, 410 basis points worse than the prior-year quarter. Net margin was -2.6%, 310 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $588.7 million. On the bottom line, the average EPS estimate is -$0.13.
Next year's average estimate for revenue is $2.46 billion. The average EPS estimate is -$0.10.
Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 374 members out of 432 rating the stock outperform, and 58 members rating it underperform. Among 108 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 89 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 $5.99.
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