The earnings call reflected a generally positive outlook with significant highlights such as the successful FanDuel transaction, strong revenue and EBITDAR growth, and a strategic capital return program. However, there were challenges including softness in certain segments and external impacts like flood-related closures.

Company Guidance -

Q3 2025

During Boyd Gaming's second quarter 2025 earnings call, the company provided optimistic guidance backed by strong performance metrics. Revenue grew by 4%, with EBITDAR also up 4% to $358 million, marking the strongest year-over-year growth in more than three years. The Las Vegas Locals segment saw its first year-over-year revenue and EBITDAR growth in over two years, maintaining margins close to 50%. Meanwhile, the Midwest and South segment achieved its highest quarterly revenue and EBITDAR in nearly three years, with 3% gains despite challenges from flood-related closures and the shift of Easter into April. Additionally, the online segment showed revenue and EBITDAR growth driven by Boyd Interactive and market access agreements, while the managed business continued to perform well, bolstered by ongoing growth in management fees from Sky River Casino. The company also announced a significant transaction involving the sale of its 5% stake in FanDuel to Flutter Entertainment for $1.755 billion, which will be used to reduce leverage below 2x and increase quarterly share repurchases to $150 million, demonstrating Boyd's commitment to maintaining a strong financial position and creating long-term shareholder value.

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 will enhance financial flexibility.

Revenue and EBITDAR Growth

Revenues grew 4% and EBITDAR increased by 4% to $358 million year-over-year, driven by broad-based growth across operating segments.

Las Vegas Locals Segment Performance

The Las Vegas Locals segment achieved its first year-over-year revenue and EBITDAR growth in more than 2 years, with segment margins near 50%.

Midwest and South Segment Performance

The Midwest and South segment delivered revenue and EBITDAR gains of more than 3%, marking the segment's highest quarterly revenue and EBITDAR in nearly 3 years.

Strong Balance Sheet

Pro forma for the FanDuel transaction, leverage is expected to be reduced by approximately 1 turn, with estimated interest expense savings of approximately $85 million on an annualized basis.

Increased Share Repurchase Program

Boyd Gaming plans to increase its target for share repurchases from $100 million to $150 million per quarter, starting with the third quarter.

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)	1.55 / -	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 Corp (BYD) report earnings?

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

What is Boyd Gaming Corp (BYD) earnings time?

Boyd Gaming Corp (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 1.55.

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