Boyd Gaming's earnings call showcased strong financial performance and strategic moves like the FanDuel transaction, which significantly improved the company's financial position and capital return strategy. However, challenges such as softer demand on the Las Vegas Strip and natural events like flooding in the Midwest and South were noted.

Company Guidance

During Boyd Gaming's second-quarter 2025 earnings call, significant financial metrics and strategic updates were provided. The company announced a 4% increase in both revenue and EBITDAR, reaching $358 million, driven by growth across its operational segments. Boyd Gaming's market access agreement with FanDuel was extended through 2038, following the sale of its 5% equity interest in FanDuel to Flutter Entertainment for $1.755 billion. The proceeds are earmarked for debt reduction, targeting leverage below 2x, which will lower annual interest expenses by $85 million. The Las Vegas Locals segment achieved nearly 50% margins, while the Midwest and South segment reported revenue and EBITDAR growth of over 3%, marking its best quarterly performance in nearly three years. Boyd's managed business and online segments also showed robust growth, with the latter expected to generate $50-$55 million in EBITDAR for 2025. Capital investments continue with a projected annual expenditure of $600-$650 million, including ongoing renovations and new developments. The company increased its share repurchase target to $150 million per quarter, highlighting its commitment to returning capital to shareholders while maintaining a strong balance sheet.

FanDuel Transaction

Boyd Gaming reached an agreement to sell its 5% equity interest in FanDuel to Flutter Entertainment for $1.755 billion in cash. The proceeds will be used to pay down debt, reducing leverage below 2x and positioning the company for future growth opportunities.

Strong Financial Performance

Second quarter revenues grew 4%, and EBITDAR increased by 4% to $358 million. Property level EBITDAR growth was the strongest in over 3 years, with margins exceeding 40%.

Las Vegas Locals Segment Growth

The Las Vegas Locals segment delivered its first year-over-year revenue and EBITDAR growth in more than 2 years, maintaining margins of nearly 50%.

Capital Return Program

Boyd Gaming repurchased $105 million in stock and paid $15 million in dividends in Q2. The company plans to increase its target for share repurchases from $100 million to $150 million per quarter.

Midwest and South Segment Performance

Despite flood-related closures, the Midwest and South segment achieved revenue and EBITDAR gains of over 3%, marking its highest quarterly revenue and EBITDAR in nearly 3 years.

Boyd Gaming (BYD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

BYD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	1.56 / -	1.52	―	―	―
Jul 24, 2025	2025 (Q2)	1.66 / 1.87	1.58	18.35% (+0.29)	―
Apr 24, 2025	2025 (Q1)	1.51 / 1.62	1.51	7.28% (+0.11)	―
Feb 06, 2025	2024 (Q4)	1.79 / 1.96	1.66	18.07% (+0.30)	―
Oct 24, 2024	2024 (Q3)	1.40 / 1.52	1.36	11.76% (+0.16)	―
Jul 25, 2024	2024 (Q2)	1.49 / 1.58	1.58	0.00% (0.00)	―
Apr 25, 2024	2024 (Q1)	1.58 / 1.51	1.71	-11.70% (-0.20)	―
Feb 08, 2024	2023 (Q4)	1.47 / 1.66	1.72	-3.49% (-0.06)	―
Oct 24, 2023	2023 (Q3)	1.45 / 1.36	1.48	-8.11% (-0.12)	―
Jul 27, 2023	2023 (Q2)	1.67 / 1.58	1.48	6.76% (+0.10)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BYD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$82.32	$85.94	+4.40%
Apr 24, 2025	$65.88	$68.70	+4.28%
Feb 06, 2025	$78.17	$76.83	-1.71%
Oct 24, 2024	$63.84	$68.85	+7.85%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Boyd Gaming (BYD) report earnings?

Boyd Gaming (BYD) is schdueled to report earning on Oct 28, 2025, After Close (Confirmed).

What is Boyd Gaming (BYD) earnings time?

Boyd Gaming (BYD) earnings time is at Oct 28, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is BYD EPS forecast?

BYD EPS forecast for the fiscal quarter 2025 (Q3) is 1.56.

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