Penn National Gaming Reports Record First Quarter Operating Income of $182.4 Million, Net Income of $41.0 Million, and Adjusted EBITDA, After Lease Payments of $183.5 Million

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Penn National Gaming (PENN) Misses Q1 EPS by 3c, Revenues Miss

May 2, 2019 7:14 AM EDT

Penn National Gaming (NASDAQ: PENN) reported Q1 EPS of $0.35, $0.03 worse than the analyst estimate of $0.38. Revenue for the quarter came in at $1.28 billion versus the consensus estimate of $1.3 billion.

2019 First Quarter Financial Highlights:

Revenues of $1.28 billion, an increase of $466.5 million year over year;Operating income of $182.4 million, an increase of $10.3 million year over year, with net income of $41.0 million;Adjusted EBITDAR of $391.4 million, an increase of $148.9 million year over year;Adjusted EBITDAR margins of 30.5% marking an 80-basis points year over year increase;Adjusted EBITDA, after Lease Payments of... More