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Boyd Gaming (BYD)
NYSE:BYD
Earnings Data
Report Date
Apr 28, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.73Last Year’s EPS
1.62Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operating performance, record revenues, solid margins (40% property-level; >50% on Las Vegas locals excluding Orleans), substantial shareholder returns ( $836M in 2025 and an 11% reduction in share count), and meaningful monetization of FanDuel proceeds (~ $1.8B) that materially strengthened the balance sheet. Management outlined a robust capital program with several growth projects (Cadence Crossing, Suncoast, Norfolk resort, Ameristar expansion) and reiterated confidence in core customer strength. Offsetting items include destination demand softness (notably at the Orleans and Downtown/LV destination traffic), weather-related and asset-closure impacts (~$4–$5M), changes to the online revenue profile translating into a sizeable reduction in online EBITDAR guidance for 2026, and an expected rise in leverage after a near-term tax payment and continued capex/repurchases. Overall, positive operational momentum, strong cash returns, and a fortified balance sheet outweigh the transitory and identifiable headwinds.Company Guidance
Record Company-Wide Revenues and Stable EBITDAR
Recorded company-wide revenues (record level) for FY2025 and delivered EBITDAR of approximately $1.4 billion for the year, consistent with the prior year and the last five years; property-level margins remained at 40%.
Strong Q4 Results
Fourth-quarter revenues of $1.1 billion and EBITDAR of $337 million; after adjusting for ~ $40 million of items (online changes and severe winter weather), company-wide EBITDAR was even with the prior year, reflecting operational discipline.
Las Vegas Locals Strength
Las Vegas locals (excluding the Orleans) achieved EBITDAR growth of nearly 2.5% in the quarter with margins once again exceeding 50%, driven by strong play from Southern Nevada residents and core customers.
Material Balance Sheet and Liquidity Actions from FanDuel Transaction
Monetized FanDuel ownership interest for nearly $1.8 billion in cash proceeds, used to reduce leverage below 2.0x at year-end (total leverage 1.7x, lease-adjusted 2.2x) and strengthen the balance sheet.
Significant Capital Returned to Shareholders
Returned $836 million to shareholders in 2025 ( $778 million share repurchases and $58 million dividends); repurchased 10.1 million shares at an average price of $76.91; total share count reduced 11% year-over-year to 76.4 million shares and 32% since Oct 2021.
Active, Targeted Capital Investment Program
Invested $148 million in Q4 and $588 million in FY2025; 2026 capex guidance of $650–$700 million (including ~$250M recurring maintenance, $75M Cadence/Paradise growth, $250–300M Virginia project, $75M hotel renovations).
Progress on Growth Projects and Property Enhancements
Cadence Crossing opening late March 2026; Suncoast modernization expected complete end of Q3 2026; Ameristar St. Charles meeting space driving forward bookings; Norfolk $750M resort construction vertical with transitional casino open; Sky River expansion first phase online in February.
Online and Managed Business Contributions
Boyd Interactive and market access agreements drove full-year online EBITDAR of $63 million; managed & other (Sky River) expected to generate $110–$114 million EBITDAR in 2026, and online segment projected at $30–$35 million in 2026 given changed revenue-share dynamics.
BYD Earnings History
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 |
|---|---|---|---|
Feb 05, 2026 | $83.64 | $83.24 | -0.48% |
Oct 23, 2025 | $84.80 | $78.60 | -7.31% |
Jul 24, 2025 | $81.97 | $85.58 | +4.40% |
Apr 24, 2025 | $65.60 | $68.41 | +4.29% |
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 Apr 28, 2026, After Close (Confirmed).
What is Boyd Gaming (BYD) earnings time?
Boyd Gaming (BYD) earnings time is at Apr 28, 2026, 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 2026 (Q1) is 1.73.