Pinnacle Entertainment Reports 2018 Second Quarter Financial Results
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Pinnacle Entertainment (PNK) Tops Q2 EPS by 1c, Revenues Miss
August 2, 2018 8:08 AM EDTPinnacle Entertainment (NASDAQ: PNK) reported Q2 EPS of $0.35, $0.01 better than the analyst estimate of $0.34. Revenue for the quarter came in at $647.6 million versus the consensus estimate of $655.45 million.
2018 Second Quarter Highlights:
Net revenues decreased by $6.0 million or 0.9% year over year to $647.6 million. The adoption of ASC 606 resulted in a reduction of 2018 second quarter net revenues of approximately $3.6 million or 0.6%, relative to the Company's prior accounting methodology.Net income increased by $13.4 million to $21.8 million from $8.4 million in the prior year period, while the related margin increased to 3.4% from 1.3% in the prior... More