Boyd Gaming (BYD) Misses Q1 EPS, Revs; Withdraws Outlook
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Boyd Gaming (NYSE: BYD) reported Q1 EPS of ($0.16), $0.42 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $680.5 million versus the consensus estimate of $775.17 million.
We are fully supportive of the actions taken by state and local officials to help slow the spread of COVID-19, including the closure of our properties nationwide. We look forward to re-opening our properties ‒ following strict safety protocols that will meet or exceed the requirements set forth by health officials ‒ when state authorities determine it is appropriate to do so."
Smith continued: "Prior to the closure of all of our properties in mid-March, our Company began the first quarter with a strong performance, posting two consecutive months of solid year-over-year growth across our nationwide operations. And while our first-quarter results were significantly impacted by property closures, we have taken broad-based actions to reduce expenses and preserve liquidity. As a result of these actions, and the progress we have made in recent years to strengthen our balance sheet, we believe our Company is well-positioned to sustain itself through the closure period. We intend to emerge from these challenging times as a more efficient and operationally focused Company."
Boyd Gaming has withdrawn all previously provided financial guidance, including full-year 2020 Adjusted EBITDAR guidance, due to the continued impact of the COVID-19 pandemic on the Company's operations
For earnings history and earnings-related data on Boyd Gaming (BYD) click here.
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