Boyd Gaming (BYD) Misses Q2 EPS by 1c; Reaffirms
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Boyd Gaming (NYSE: BYD) reported Q2 EPS of $0.46, $0.01 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $846.1 million versus the consensus estimate of $840.21 million.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "During the second quarter, our Company made continued progress executing against our strategic growth initiatives. Despite a few isolated challenges, we delivered revenue, Adjusted EBITDAR and operating margin growth in every segment of our business, as our operating teams identified and drove profitable revenue growth and enhanced efficiencies. We achieved strong growth at our newly acquired properties, significantly improving upon their solid standalone performances last year. And through ongoing marketing and operational initiatives, we are successfully growing visitation and expanding our customer base across the country. In all we are pleased with our progress, and remain confident we are well-positioned to capitalize on future growth opportunities."
Total Adjusted EBITDAR(1) was $232.6 million in the second quarter of 2019, rising 42.3% from $163.4 million in the second quarter of 2018. Adjusted Earnings(1) for the second quarter of 2019 were $52.5 million, or $0.46 per share, compared to Adjusted Earnings of $44.0 million, or $0.38 per share, for the same period in 2018.
For the full year 2019, Boyd Gaming reaffirms its previously provided guidance of total Adjusted EBITDAR of $885 million to $910 million.
For earnings history and earnings-related data on Boyd Gaming (BYD) click here.
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