Boyd Gaming (BYD)
NYSE:BYD
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Earnings Data
Report Date
Jul 23, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.9Last Year’s EPS
1.87Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted solid company-wide results driven by a diversified portfolio, strong property-level margins (>39%), and notable segment-level growth (Midwest & South revenues +4%, EBITDAR +5%). Management reinforced growth initiatives (major Virginia resort, Paradise modernization, Cadence Crossing) and a shareholder-friendly capital return program (nearly $170M returned in Q1 and ongoing $150M quarterly buybacks). Headwinds are concentrated and identifiable—primarily softness in Las Vegas destination demand (impacting ~ $5M–$6M of EBITDAR per quarter), temporary Suncoast construction disruption (material in Q2–Q3), and a near-term ~$290M tax-credit cash payment—each described as temporary or manageable within a strong balance sheet and robust cash generation. Overall, the positives across diversified operating performance, margin strength, growth pipeline, and heavy shareholder returns outweigh the near-term, localized challenges.Company Guidance
Company Revenue and EBITDAR
Company-wide revenues approached $1.0 billion in Q1 2026 with EBITDAR of $317 million, demonstrating strong top-line scale and operating profitability.
Strong Property-Level Margins
Property-level margins exceeded 39% company-wide (property-level margins of more than 39%), reflecting effective cost control and operating efficiencies.
Midwest & South Segment Growth
Midwest & South revenues grew 4% year-over-year and EBITDAR grew 5%, with margins improving to nearly 37% and broad-based market share gains across demographics and ADT segments.
High Margins Excluding Impacted Vegas Properties
Excluding the Orleans and Suncoast, the Las Vegas Locals segment's remaining properties produced revenues and EBITDAR in line with prior year and operating margins exceeding 50%.
Online and Managed Segment Performance & Guidance
Boyd Interactive continued to grow; online segment EBITDAR guidance reiterated at $30 million to $35 million for 2026. Managed & Other segment expected to generate $110 million to $114 million in EBITDAR for the full year.
Capital Investment Pipeline
Investments underway include a $750 million Virginia resort on track for late 2027 (65,000 sq ft casino, 200-room hotel), Paradise Casino modernization (approved, targeted late 2028), and ongoing property remodels and new openings (e.g., Cadence Crossing, hotel remodels).
Material Shareholder Returns and Repurchase Program
Returned nearly $170 million to shareholders in Q1 (approximately $155 million in share repurchases and $14 million in dividends). Plan to repurchase $150 million per quarter; 1.8 million shares repurchased in Q1 at an average price of $83.94; ~74.8 million shares outstanding; ~$700 million remaining repurchase authorization.
Strong Balance Sheet and Leverage Profile
Finished Q1 with traditional leverage of 1.8x and lease-adjusted leverage of 2.4x, ample capacity under credit facility, and the company describes the strongest balance sheet in its history.
Q1 CapEx and FY Plan
Invested $155 million in Q1; full-year capital expenditure guidance of $650 million to $700 million, including ~$250 million maintenance capex and ~$300 million for the Virginia project.
Operational Wins & New Openings
Cadence Crossing Casino opened March 25 with enthusiastic early guest response; Treasure Chest continues year-over-year growth; Sky River expansion progressing and first phase complete with hotel and F&B development planned through early 2028.
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 |
|---|---|---|---|
Apr 23, 2026 | $89.15 | $83.88 | -5.91% |
Feb 05, 2026 | $83.44 | $83.04 | -0.48% |
Oct 23, 2025 | $84.59 | $78.41 | -7.31% |
Jul 24, 2025 | $81.77 | $85.37 | +4.40% |
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 Jul 23, 2026, After Close (Confirmed).
What is Boyd Gaming (BYD) earnings time?
Boyd Gaming (BYD) earnings time is at Jul 23, 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 (Q2) is 1.9.