Boyd Gaming (NYSE:BYD) Posts Quarterly Earnings Results, Meets Expectations

Boyd Gaming (NYSE:BYD) posted its quarterly earnings data on Thursday. The company reported $1.67 EPS for the quarter, hitting analysts’ consensus estimates of $1.67, FiscalAI reports. The firm had revenue of $990.46 million during the quarter, compared to analyst estimates of $1 billion. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.72 EPS.

Here are the key takeaways from Boyd Gaming’s conference call:

• Adjusted third-quarter performance improved: excluding the Sam’s Town closures/sale, higher Kansas Star property taxes and lower tax pass-throughs, revenue rose approximately 2% and EBITDA increased 1% year over year, versus reported declines of about 1%.
• The Midwest and South segment continued to perform well, with adjusted revenue up nearly 3% and EBITDA up approximately 2.5%, supported by core and retail customer demand and returns from property investments.
• Las Vegas results were pressured by intensified softness in destination business, particularly at the Orleans, as well as Suncoast construction disruption and elevated Hawaiian airfares and storms affecting downtown Las Vegas. Management expects only modest Las Vegas Locals EBITDA growth next year and remains cautious on destination trends.
• Boyd Interactive and the Managed & Other segment continued to deliver double-digit growth, with management directing investors toward the high end of previously issued guidance; Sky River’s expansion is also generating higher management fees.
• The company returned approximately $180 million to shareholders in the quarter and plans to continue targeting roughly $150 million in quarterly repurchases plus dividends, while maintaining 2.2x traditional leverage and funding growth projects including the Virginia resort, Par-A-Dice and Amelia Belle.

Boyd Gaming Stock Performance

Shares of NYSE BYD traded down $1.13 during trading hours on Friday, hitting $71.14. 64,465 shares of the stock were exchanged, compared to its average volume of 978,625. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.77 and a quick ratio of 0.74. The company’s 50 day moving average is $74.45 and its 200 day moving average is $81.66. The firm has a market capitalization of $5.17 billion, a P/E ratio of 3.12, a P/E/G ratio of 1.25 and a beta of 1.12. Boyd Gaming has a one year low of $65.00 and a one year high of $91.41.

Boyd Gaming Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, September 15th. Boyd Gaming’s payout ratio is presently 3.52%.

Trending Headlines about Boyd Gaming

Here are the key news stories impacting Boyd Gaming this week:

• Positive Sentiment: Boyd reported third-quarter adjusted earnings of $1.67 per share, matching the company’s reported consensus estimate and exceeding the $1.65 Zacks estimate. The company also repurchased $164 million of stock during the quarter, with $387 million remaining under its authorization. Boyd Gaming Reports Third-Quarter 2026 Results
• Positive Sentiment: The company’s diversified portfolio continued to provide support: Midwest and South revenue reached $540.5 million, while online revenue totaled $154.5 million. Management said ongoing property investments and strength among core customers helped offset softer destination activity in Las Vegas. Boyd Gaming Leans on Growth in the Midwest and South
• Neutral Sentiment: Boyd maintained its quarterly cash dividend at $0.20 per share. However, total debt was $2.7 billion against $297.2 million in cash, leaving investors focused on leverage and the sustainability of capital returns. Boyd Gaming Third-Quarter Results
• Negative Sentiment: Third-quarter revenue was $990.5 million, below the roughly $1 billion analyst expectation and down 1.3% year over year. Adjusted EBITDAR also slipped to $319.6 million from $321.8 million, reflecting pressure from weaker Las Vegas tourism. Boyd Gaming Misses Q3 Revenue Estimates
• Negative Sentiment: Stifel Nicolaus lowered its price target from $92 to $80 and assigned a “hold” rating. The target cut signals reduced expectations despite implied upside from recent trading levels. Stifel Nicolaus Boyd Gaming Rating

Insider Buying and Selling

In other news, CFO Josh Hirsberg sold 12,777 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the sale, the chief financial officer directly owned 422,969 shares of the company’s stock, valued at approximately $37,965,697.44. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on BYD. Citigroup restated a “market perform” rating on shares of Boyd Gaming in a report on Tuesday, October 13th. Truist Financial decreased their target price on shares of Boyd Gaming from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $89.00 to $83.00 in a research report on Monday. Wells Fargo & Company reduced their price target on Boyd Gaming from $87.00 to $86.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and raised their price objective for the company from $98.00 to $99.00 in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $90.00.

Boyd Gaming Company Profile

Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam’s Town, The Orleans, Gold Coast, Suncoast and Fremont.

Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences.

The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.