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Gaming and hospitality company Boyd Gaming (NYSE:BYD) will be announcing earnings results tomorrow after market close. Here’s what to expect.
Boyd Gaming beat analysts’ revenue expectations by 4.8% last quarter, reporting revenues of $961.2 million, up 6.4% year on year. It was a strong quarter for the company, with a decent beat of analysts’ Non-Gaming revenue and 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 4.8% year on year to $1.00 billion, improving from the 3.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.80 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boyd Gaming has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Boyd Gaming’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. VF Corp delivered year-on-year revenue growth of 1.9%, beating analysts’ expectations by 1.2%, and FOX reported revenues up 19.9%, topping estimates by 5%. VF Corp traded up 1.4% following the results.
Read our full analysis of VF Corp’s results here and FOX’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 2.5% on average over the last month. Boyd Gaming is up 5.3% during the same time and is heading into earnings with an average analyst price target of $79.77 (compared to the current share price of $76.19).
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