Boyd Gaming (BYD) Reports Q3: Everything You Need To Know Ahead Of Earnings

Gaming and hospitality company Boyd Gaming (NYSE:BYD) will be announcing earnings results tomorrow after market hours. Here’s what to look for.

Boyd Gaming beat analysts’ revenue expectations by 6.4% last quarter, reporting revenues of $967.5 million, up 5.5% year on year. It was a strong quarter for the company, with a solid beat of analysts’ Non-Gaming revenue estimates and a decent beat of analysts’ EBITDA estimates.

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

This quarter, analysts are expecting Boyd Gaming’s revenue to grow 1.5% year on year to $916.6 million, slowing from the 3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.40 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boyd Gaming has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 3.6% on average.

Looking at Boyd Gaming’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Nike’s revenues decreased 10.4% year on year, meeting analysts’ expectations, and Scholastic reported revenues up 3.8%, topping estimates by 1.6%. Nike traded down 6.8% following the results while Scholastic was up 6%.

Read our full analysis of Nike’s results here and Scholastic’s results here.

Investors in the consumer discretionary segment have had fairly steady hands going into earnings, with share prices down 1.1% 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 $71.21 (compared to the current share price of $64.40).

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