Boyd Gaming (BYD) Tops Q1 EPS by 4c
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Boyd Gaming (NYSE: BYD) reported Q1 EPS of $0.39, $0.04 better than the analyst estimate of $0.35. Revenue for the quarter came in at $606.1 million versus the consensus estimate of $608.68 million.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "During the first quarter, we continued to deliver strong results through the execution of a well-balanced strategy to create shareholder value. We improved margins throughout our operations, further enhancing our robust free cash flow; reduced debt by an additional $85 million, putting us on the threshold of our long-term leverage target; and returned more than $25 million in capital to shareholders through share repurchases and dividend payments. We also began preparations to expand and diversify our portfolio later this year through the pending acquisitions of five new assets in Missouri, Ohio, Indiana and Pennsylvania. With our increasingly efficient operations, growing free cash flow, solid balance sheet and robust growth pipeline, we are in excellent position to continue delivering strong results for our shareholders."
Full-Year 2018 Guidance
For the full year 2018, Boyd Gaming reaffirms its previously provided guidance of total Adjusted EBITDA of $600 million to $620 million. This guidance does not include any contributions from the Company's pending acquisitions.
For earnings history and earnings-related data on Boyd Gaming (BYD) click here.
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