Boyd Gaming (BYD) Reports Earnings Tomorrow: What To Expect

Gaming and hospitality company Boyd Gaming (NYSE:BYD) will be reporting earnings this Thursday afternoon. Here’s what to look for.

Boyd Gaming met analysts’ revenue expectations last quarter, reporting revenues of $997.4 million, flat year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and EBITDA in line with analysts’ estimates.

Is Boyd Gaming a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Boyd Gaming’s revenue to be flat year on year, slowing from the 6.9% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Boyd Gaming has a history of exceeding Wall Street’s expectations.

Looking at Boyd Gaming’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 4.2%, missing analysts’ expectations by 0.7%, and AMC Entertainment reported revenues up 14.2%, topping estimates by 8.7%. Monarch traded down 5.7% following the results while AMC Entertainment was up 14.6%.

Read our full analysis of Monarch’s results here and AMC Entertainment’s results here.

Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Boyd Gaming’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $94.88 (compared to the current share price of $87.18).

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