Twin River Worldwide Holdings, Inc (TRWH) Misses Q3 EPS by 5c

Twin River Worldwide Holdings, Inc (NYSE: TRWH) reported Q3 EPS of $0.27, $0.05 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $129.31 million versus the consensus estimate of $130.83 million.

• Revenue increased 17.0% to $129.3 million
• Dover Downs exceeded expectations with $25.9 million of revenue
• Gross gaming revenue increased 13.6% to $206.1 million(1)
• Net income of $7.0 million and adjusted EBITDA of $35.6 million(1) both represented decreases year-over-year

"I am very pleased that our proven corporate strategy of accretive growth, continued diversification of our portfolio and a meaningful return of capital to shareholders, continues to generate value for our stakeholders," said George Papanier, President and Chief Executive Officer. "While we experienced the anticipated short-term impacts of new competition at our Twin River Casino Hotel in the quarter, we continued to reap the benefits of our disciplined M&A strategy, with Dover Downs and Tiverton both performing extremely well this quarter. Our overall plan is on-track and the long-term value proposition we have laid out for our investors remains intact."

For earnings history and earnings-related data on Twin River Worldwide Holdings, Inc (TRWH) click here.

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