We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Boyd Gaming (BYD) Gears Up for Q1 Earnings: What's in Store?
Read MoreHide Full Article
Boyd Gaming Corporation (BYD - Free Report) is scheduled to report first-quarter 2023 results on Apr 25. In the last reported quarter, the company delivered an earnings surprise of 18.6%.
How Are Estimates Placed?
The Zacks Consensus Estimate for first-quarter earnings per share (EPS) is pegged at $1.50, indicating a rise of 7.1% from $1.40 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $885.5 million. The metric suggests an increase of 2.9% from the year-ago quarter’s figure.
Let’s take a look at how things have shaped up in the quarter.
Factors at Play
Boyd Gaming’s first-quarter 2023 performance is likely to have benefited from strong Las Vegas operations, land-based growth investments and the FanDuel partnership. This and growing contributions from online gaming and management fees (from Sky River Casino) are likely to have aided the company’s performance in the to-be-reported quarter.
Improvement in destination business and pent-up demand for non-gaming amenities are likely to have aided the fourth-quarter top line. During the previous quarter, the company reported strong Hawaiian visitation and solid Fremont performance. Also, it reported solid demand throughout the Downtown Las Vegas market courtesy of a rise in pedestrian traffic and guest counts.
Given the visitation in recovery mode, the momentum is likely to have continued in the to-be-reported quarter. In first-quarter 2023, our model predicts revenues from room and food and beverage to rise 15.8% and 46% respectively, on a year-over-year basis
Elevated expenses on account of inflationary pressures are likely to have hurt the company’s performance in the first quarter. In first quarter 2023, our model predicts total operating costs and expenses to rise 5.9% year over year.
What Our Model Says
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.
Earnings ESP: Boyd Gaming has an Earnings ESP of +4.06%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Wynn Resorts, Limited (WYNN - Free Report) has an Earnings ESP of +111.38% and a Zacks Rank #2.
Shares of Wynn Resorts have surged 44.2% in the past year. WYNN’s earnings beat estimates in two of the trailing four quarters and missed twice, the average surprise being 0.6%.
Choice Hotels International, Inc. (CHH - Free Report) has an Earnings ESP of +7.21% and a Zacks Rank #3.
The stock has declined 13.3% in the past year. CHH’s earnings surpassed the consensus mark twice in the trailing four quarters and missed twice, the average surprise being 3.5%.
Civeo Corporation (CVEO - Free Report) has an Earnings ESP of +38.46% and a Zacks Rank #3.
Shares of Civeo have declined 22.2% in the past year. CVEO’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 26.1%.
Image: Bigstock
Boyd Gaming (BYD) Gears Up for Q1 Earnings: What's in Store?
Boyd Gaming Corporation (BYD - Free Report) is scheduled to report first-quarter 2023 results on Apr 25. In the last reported quarter, the company delivered an earnings surprise of 18.6%.
How Are Estimates Placed?
The Zacks Consensus Estimate for first-quarter earnings per share (EPS) is pegged at $1.50, indicating a rise of 7.1% from $1.40 reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $885.5 million. The metric suggests an increase of 2.9% from the year-ago quarter’s figure.
Boyd Gaming Corporation Price and EPS Surprise
Boyd Gaming Corporation price-eps-surprise | Boyd Gaming Corporation Quote
Let’s take a look at how things have shaped up in the quarter.
Factors at Play
Boyd Gaming’s first-quarter 2023 performance is likely to have benefited from strong Las Vegas operations, land-based growth investments and the FanDuel partnership. This and growing contributions from online gaming and management fees (from Sky River Casino) are likely to have aided the company’s performance in the to-be-reported quarter.
Improvement in destination business and pent-up demand for non-gaming amenities are likely to have aided the fourth-quarter top line. During the previous quarter, the company reported strong Hawaiian visitation and solid Fremont performance. Also, it reported solid demand throughout the Downtown Las Vegas market courtesy of a rise in pedestrian traffic and guest counts.
Given the visitation in recovery mode, the momentum is likely to have continued in the to-be-reported quarter. In first-quarter 2023, our model predicts revenues from room and food and beverage to rise 15.8% and 46% respectively, on a year-over-year basis
Elevated expenses on account of inflationary pressures are likely to have hurt the company’s performance in the first quarter. In first quarter 2023, our model predicts total operating costs and expenses to rise 5.9% year over year.
What Our Model Says
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.
Earnings ESP: Boyd Gaming has an Earnings ESP of +4.06%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
Wynn Resorts, Limited (WYNN - Free Report) has an Earnings ESP of +111.38% and a Zacks Rank #2.
Shares of Wynn Resorts have surged 44.2% in the past year. WYNN’s earnings beat estimates in two of the trailing four quarters and missed twice, the average surprise being 0.6%.
Choice Hotels International, Inc. (CHH - Free Report) has an Earnings ESP of +7.21% and a Zacks Rank #3.
The stock has declined 13.3% in the past year. CHH’s earnings surpassed the consensus mark twice in the trailing four quarters and missed twice, the average surprise being 3.5%.
Civeo Corporation (CVEO - Free Report) has an Earnings ESP of +38.46% and a Zacks Rank #3.
Shares of Civeo have declined 22.2% in the past year. CVEO’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 26.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.