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Boyd Gaming Corporation (BYD - Free Report) reported fourth-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The company’s top and bottom lines increased year over year.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
During the quarter, the company benefited from its diversified business model, operational efficiencies and contributions from Treasure Chest’s new land-based facility. Also, strong engagement from core customers and stable trends among retail customers added to the positives.
Following the results, the company’s shares gained 1.8% in the after-hours trading session yesterday.
BYD Q4 Earnings & Sales Discussion
In the reported quarter, adjusted earnings per share (EPS) were $1.96, surpassing the Zacks Consensus Estimate of $1.78 by 10.1%. In the year-ago quarter, it reported an adjusted EPS of $1.66.
Boyd Gaming Corporation Price, Consensus and EPS Surprise
Total revenues of $1.04 billion beat the consensus mark of $1 billion by 3.9%. The top line rose 9.1% on a year-over-year basis.
Total adjusted EBITDAR in the reported quarter amounted to $379.3 million compared with $355.5 million reported in the prior-year quarter.
Boyd Gaming's Segmental Details
Las Vegas Locals
In the fourth-quarter 2024, the segment’s revenues amounted to $232 million, down 1.3% from the prior-year quarter’s levels. The segment’s adjusted EBITDAR totaled $112.3 million compared with $120.4 million reported in the year-ago quarter.
Downtown Las Vegas
Revenues in the segment rose 3.5% year over year to $65.6 million. Adjusted EBITDAR was $27 million compared with $27.6 million reported in the year-ago quarter.
Midwest and South Segment
In the quarter, the segment’s revenues were $518.5 million compared with $497.9 million reported in the prior-year quarter. The segment’s adjusted EBITDAR totaled $192.4 million compared with $190.6 million reported in the year-ago quarter.
Online Segment
In the quarter, the segment’s revenues were $188.8 million, compared with $124.1 million reported in the prior-year quarter. The segment’s adjusted EBITDAR totaled $44.1 million compared with $17.3 million reported in the year-ago quarter.
BYD Operating Highlights
In the fourth-quarter 2024, the company’s total operating costs and expenses were $779.6 million, down 2.5% year over year. Selling, general and administrative expenses in the quarter were $111.5 million, compared with $90.6 million reported in the prior-year quarter.
Boyd Gaming 2024 Highlights
Total revenues in 2024 amounted to $3.93 billion compared with $3.74 billion in 2023.
Net income in 2024 came in at $578 million compared with $620 million reported in 2023.
In 2024, adjusted diluted EPS came in at $6.55 compared with $6.31 reported in the previous year.
BYD’s Balance Sheet
As of Dec. 31, 2024, the company had cash on hand of $316.7 million compared with $286.3 million as of Sept. 30, 2024. Total debt in the fourth quarter of 2024 amounted to $3.2 billion compared with $3.1 billion reported in the previous quarter.
In the quarter, the company repurchased shares of its common stock worth approximately $203 million. As of Dec. 31, 2024, the company stated the availability of approximately $640 million under its repurchase program.
Adtalem Global Education Inc. (ATGE - Free Report) posted better-than-expected results in second-quarter fiscal 2025. Earnings and revenues surpassed the respective Zacks Consensus Estimate and increased year over year, driven by strong enrollment growth and strategic initiatives.
Adtalem's operational excellence strategy, Growth with Purpose, has driven six consecutive quarters of enrollment growth while supporting its mission to develop skilled healthcare professionals. Furthermore, strong demand at Chamberlain University and Walden University drove results. ATGE now expects fiscal 2025 adjusted earnings to be in the band of $6.10-$6.30 per share compared with the earlier prediction of $5.75-$5.95.
Las Vegas Sands Corp. (LVS - Free Report) reported fourth-quarter 2024 results, with earnings missing the Zacks Consensus Estimate and net revenues beating the same. The metrics declined on a year-over-year basis.
The company reported solid financial and operational performance at Marina Bay Sands, Singapore and continued recovery in the Macao market. LVS continues to execute its strategic objectives and remains optimistic about achieving industry-leading growth in both Macao and Singapore through its ongoing capital investment initiatives. It is optimistic about the introduction of new suite offerings, enhanced service levels and increased tourism spending in Asia.
Royal Caribbean Cruises Ltd. (RCL - Free Report) posted mixed fourth-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate while revenues missed the same. Notably, the top and bottom lines increased on a year-over-year basis.
The company’s performance during the quarter was driven by stronger pricing on close-in demand and continued strength in onboard revenues. Its diversified fleet offerings, accompanied by its commercial and vacation experiences, are witnessing robust demand trends amid an improving global market backdrop. Thanks to these tailwinds, RCL could achieve its Trifecta goals before the schedule, pointing out the benefits it is realizing from the current improving scenario.
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Boyd Gaming's Q4 Earnings & Revenues Beat Estimates, Increase Y/Y
Boyd Gaming Corporation (BYD - Free Report) reported fourth-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The company’s top and bottom lines increased year over year.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
During the quarter, the company benefited from its diversified business model, operational efficiencies and contributions from Treasure Chest’s new land-based facility. Also, strong engagement from core customers and stable trends among retail customers added to the positives.
Following the results, the company’s shares gained 1.8% in the after-hours trading session yesterday.
BYD Q4 Earnings & Sales Discussion
In the reported quarter, adjusted earnings per share (EPS) were $1.96, surpassing the Zacks Consensus Estimate of $1.78 by 10.1%. In the year-ago quarter, it reported an adjusted EPS of $1.66.
Boyd Gaming Corporation Price, Consensus and EPS Surprise
Boyd Gaming Corporation price-consensus-eps-surprise-chart | Boyd Gaming Corporation Quote
Total revenues of $1.04 billion beat the consensus mark of $1 billion by 3.9%. The top line rose 9.1% on a year-over-year basis.
Total adjusted EBITDAR in the reported quarter amounted to $379.3 million compared with $355.5 million reported in the prior-year quarter.
Boyd Gaming's Segmental Details
Las Vegas Locals
In the fourth-quarter 2024, the segment’s revenues amounted to $232 million, down 1.3% from the prior-year quarter’s levels. The segment’s adjusted EBITDAR totaled $112.3 million compared with $120.4 million reported in the year-ago quarter.
Downtown Las Vegas
Revenues in the segment rose 3.5% year over year to $65.6 million. Adjusted EBITDAR was $27 million compared with $27.6 million reported in the year-ago quarter.
Midwest and South Segment
In the quarter, the segment’s revenues were $518.5 million compared with $497.9 million reported in the prior-year quarter. The segment’s adjusted EBITDAR totaled $192.4 million compared with $190.6 million reported in the year-ago quarter.
Online Segment
In the quarter, the segment’s revenues were $188.8 million, compared with $124.1 million reported in the prior-year quarter. The segment’s adjusted EBITDAR totaled $44.1 million compared with $17.3 million reported in the year-ago quarter.
BYD Operating Highlights
In the fourth-quarter 2024, the company’s total operating costs and expenses were $779.6 million, down 2.5% year over year. Selling, general and administrative expenses in the quarter were $111.5 million, compared with $90.6 million reported in the prior-year quarter.
Boyd Gaming 2024 Highlights
Total revenues in 2024 amounted to $3.93 billion compared with $3.74 billion in 2023.
Net income in 2024 came in at $578 million compared with $620 million reported in 2023.
In 2024, adjusted diluted EPS came in at $6.55 compared with $6.31 reported in the previous year.
BYD’s Balance Sheet
As of Dec. 31, 2024, the company had cash on hand of $316.7 million compared with $286.3 million as of Sept. 30, 2024. Total debt in the fourth quarter of 2024 amounted to $3.2 billion compared with $3.1 billion reported in the previous quarter.
In the quarter, the company repurchased shares of its common stock worth approximately $203 million. As of Dec. 31, 2024, the company stated the availability of approximately $640 million under its repurchase program.
BYD’s Zacks Rank
Boyd Gaming currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Consumer Discretionary Releases
Adtalem Global Education Inc. (ATGE - Free Report) posted better-than-expected results in second-quarter fiscal 2025. Earnings and revenues surpassed the respective Zacks Consensus Estimate and increased year over year, driven by strong enrollment growth and strategic initiatives.
Adtalem's operational excellence strategy, Growth with Purpose, has driven six consecutive quarters of enrollment growth while supporting its mission to develop skilled healthcare professionals. Furthermore, strong demand at Chamberlain University and Walden University drove results. ATGE now expects fiscal 2025 adjusted earnings to be in the band of $6.10-$6.30 per share compared with the earlier prediction of $5.75-$5.95.
Las Vegas Sands Corp. (LVS - Free Report) reported fourth-quarter 2024 results, with earnings missing the Zacks Consensus Estimate and net revenues beating the same. The metrics declined on a year-over-year basis.
The company reported solid financial and operational performance at Marina Bay Sands, Singapore and continued recovery in the Macao market. LVS continues to execute its strategic objectives and remains optimistic about achieving industry-leading growth in both Macao and Singapore through its ongoing capital investment initiatives. It is optimistic about the introduction of new suite offerings, enhanced service levels and increased tourism spending in Asia.
Royal Caribbean Cruises Ltd. (RCL - Free Report) posted mixed fourth-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate while revenues missed the same. Notably, the top and bottom lines increased on a year-over-year basis.
The company’s performance during the quarter was driven by stronger pricing on close-in demand and continued strength in onboard revenues. Its diversified fleet offerings, accompanied by its commercial and vacation experiences, are witnessing robust demand trends amid an improving global market backdrop. Thanks to these tailwinds, RCL could achieve its Trifecta goals before the schedule, pointing out the benefits it is realizing from the current improving scenario.