Boyd Gaming (BYD) to Report Q2 Earnings: What to Expect?
Boyd Gaming Corporation BYD is scheduled to report second-quarter 2023 results on Jul 27, 2023, after market close.
In the last reported quarter, the company’s earnings and revenues surpassed the Zacks Consensus Estimate by 13.3% and 8.9%, respectively. Earnings and revenues increased 22.1% and 12% from the year-ago quarter’s figures, respectively.
The Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share (EPS) dropped 0.6% to $1.56 in the past seven days. The estimated figure indicates a 5.4% increase from the year-ago quarter’s earnings of $1.48 per share. The consensus mark for revenues is pegged at $890.7 million, suggesting a decline of 0.4% from the prior-year quarter’s reported figure.
Boyd Gaming Corporation Price and EPS Surprise
Boyd Gaming Corporation price-eps-surprise | Boyd Gaming Corporation Quote
Factors to Note
Boyd Gaming’s second-quarter’s top line is likely to have benefited from strong year-over-year growth from online and management fees obtained from Sky River along with continued returns from nationwide property investments and robust nongaming revenue growth. This and the emphasis on core customers and streamlining of cost structures are likely to add to the positives.
However, the top line in the quarter is likely to have been hurt by the dismal Midwest and South region and Las Vegas Locals segments performance. For the mentioned quarter, the Zacks Consensus Estimates for revenues from Midwest and South region and Las Vegas Locals are pegged at $520 million and $231 million, down 13.9% and 2.1% year over year, respectively.
For the second quarter, the consensus estimate for consolidated revenues under the Gaming segment is pegged at $686 million, calling for a 0.2% growth from the prior year reported figure.
What the Zacks Model Unveils
Our proven model predicts 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.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Boyd Gaming has an Earnings ESP of +2.92% and carries a Zacks Rank #3.
Stocks With Favorable Combinations
Here are some other companies in the Zacks Consumer Discretionary sector that too have the right combination of elements to post an earnings beat on their respective quarters to be reported.
Carter's, Inc. CRI has an Earnings ESP of +7.85% and a Zacks Rank #1.
CRI’s earnings missed the consensus mark once but beat the same on three other occasions, the average surprise being 25.3%. Earnings for the to-be-reported quarter are expected to decline 60.8% year over year.
Electronic Arts Inc. EA has an Earnings ESP of +2.54% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
EA’s earnings topped the consensus mark in two of the last four quarters and missed on other two occasions, the average being 7.3%. Earnings for the to-be-reported quarter are expected to grow 215.6% year over year.
MGM Resorts International MGM has an Earnings ESP of +19.43% and a Zacks Rank #2.
MGM’s earnings topped the consensus mark in two of the last four quarters and missed on other two occasions, the average being 81%. Earnings for the to-be-reported quarter are expected to grow 1666.7% year over year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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MGM Resorts International (MGM) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
Electronic Arts Inc. (EA) : Free Stock Analysis Report
Carter's, Inc. (CRI) : Free Stock Analysis Report
