The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Boyd Gaming missed slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP loss per share expanded. GAAP loss per share expanded.
Margins dropped across the board.
Boyd Gaming logged revenue of $625.8 million. The 15 analysts polled by S&P Capital IQ predicted sales of $637.5 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 -$0.31. The 16 earnings estimates compiled by S&P Capital IQ predicted -$0.13 per share. Non-GAAP EPS were -$0.31 for Q4 against -$0.03 per share for the prior-year quarter. GAAP EPS were -$10.24 for Q4 compared to -$0.01 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 36.4%, much worse than the prior-year quarter. Operating margin was 2.5%, 730 basis points worse than the prior-year quarter. Net margin was -143.8%, much worse than the prior-year quarter.
Next quarter's average estimate for revenue is $760.6 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $2.99 billion. The average EPS estimate is $0.45.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 383 members out of 441 rating the stock outperform, and 58 members rating it underperform. Among 124 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 106 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 $6.08.
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