Boyd Gaming (BYD) Gears Up for Q3 Earnings: What's in Store?
Boyd Gaming Corporation BYD is scheduled to report its third-quarter 2022 results on Oct 25, after the closing bell. In the last reported quarter, the company reported an earnings surprise of 7.3%.
How Are Estimates Placed?
The Zacks Consensus Estimate for the third-quarter earnings per share is pegged at $1.28, indicating a decline of 1.5% from the $1.30 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at $853.3 million, suggesting growth of 1.2% from the prior-year quarter.
Let's take a look at how things have shaped up in the quarter.
Factors to Note
Boyd Gaming’s fiscal third-quarter top line is likely to have benefited from robust Midwest and South and Downtown Las Vegas segments’ revenues. The Zacks Consensus Estimate for Midwest and South, and Downtown Las Vegas segments’ revenues are pegged at $586 million and $46.8 million, up 2.8% and 11.1%, respectively, year over year.
Robust demand for sports betting, improvement in destination business and pent-up demand for non-gaming amenities are likely to have aided the top line. The company has been witnessing a solid performance by the interactive gaming platform. Thanks to the strategic partnership with FanDuel, BYD is optimistic regarding its future in the iGaming industry.
The consensus estimate for Food and Beverage revenues stands at $70 million, indicating an improvement of 14.8% year over year. The Zacks Consensus Estimate for Room revenues for the third quarter is pegged at $50 million compared with $44.3 million reported in the prior-year quarter. The consensus mark for Other revenues is pegged at $76 million compared with $63 million in the prior-year quarter.
However, a decline in gaming revenues might have negatively impacted the third-quarter 2022 top line. The Zacks Consensus Estimate for gaming revenues for third-quarter 2022 is pegged at $666 million, suggesting a decline of 1.2% year over year.
Boyd Gaming Corporation Price and EPS Surprise
Boyd Gaming Corporation price-eps-surprise | Boyd Gaming Corporation Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Boyd Gaming this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that's not the case here.
Earnings ESP: Boyd Gaming has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Boyd Gaming currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider as our model shows that these have the right combination of elements to post an earnings beat:
RCI Hospitality Holdings, Inc. RICK has an Earnings ESP of +4.15% and a Zacks Rank #2.
Shares of RCI Hospitality have improved 2.2% in the past year. RICK’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 39.4%.
JAKKS Pacific, Inc. JAKK has an Earnings ESP of +3.25% and a Zacks Rank #3.
Shares of JAKKS Pacific have jumped 47.5% in the past year. JAKK’s earnings surpassed the consensus mark in all of the trailing four quarters, the average surprise being 155%.
Cedar Fair, L.P. FUN has an Earnings ESP of +2.38% and a Zacks Rank #3.
Shares of Cedar Fair have declined 13.9% in the past year. FUN’s earnings surpassed the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 5.3%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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JAKKS Pacific, Inc. (JAKK) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
Cedar Fair, L.P. (FUN) : Free Stock Analysis Report
RCI Hospitality Holdings, Inc. (RICK) : Free Stock Analysis Report
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