Gaming and hospitality company Boyd Gaming (NYSE:BYD) will be reporting earnings this Thursday afternoon. Here’s what to expect.
Boyd Gaming met analysts’ revenue expectations last quarter, reporting revenues of $1.03 billion, flat year on year. It was a mixed quarter for the company, with 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 for active Edge members.
This quarter, the market is expecting Boyd Gaming’s revenue to be flat year on year, slowing from the 4.5% 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 rarely misses Wall Street’s revenue estimates.
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. Hasbro delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 7.9%, and Levi's reported revenues up 4.3%, in line with consensus estimates. Levi's traded down 2.4% following the results.
Read our full analysis of Hasbro’s results here and Levi’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Boyd Gaming is down 1.3% during the same time and is heading into earnings with an average analyst price target of $92.13 (compared to the current share price of $71.62).
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