Boyd Gaming (BYD) Misses Q3 EPS by 4c

October 22, 2019 4:07 PM EDT

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Boyd Gaming (NYSE: BYD) reported Q3 EPS of $0.35, $0.04 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $819.6 million versus the consensus estimate of $828.91 million.

Total Adjusted EBITDAR(1) was $213.5 million in the third quarter of 2019, increasing from $148.8 million in the third quarter of 2018. Adjusted Earnings(1) for the third quarter of 2019 were $44.8 million, or $0.39 per share, compared to Adjusted Earnings of $26.7 million, or $0.23 per share, for the same period in 2018.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "In the third quarter, our diversified nationwide portfolio continued to deliver growth in same-store revenues, Adjusted EBITDAR and margins, led by another outstanding quarter by our Las Vegas Locals business. Our newly acquired properties produced strong results under our ownership, with Adjusted EBITDAR growth of nearly 6% and margin improvement of more than 200 basis points on a combined basis. And we substantially expanded our sports-betting partnership with FanDuel Group, opening sports books at four new locations in the Midwest while successfully launching a market-leading mobile betting app in Pennsylvania. Our Company continues to deliver strong operating results, and we remain focused on executing a disciplined, balanced approach to creating long-term shareholder value."

For earnings history and earnings-related data on Boyd Gaming (BYD) click here.

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