Boyd Gaming Set to Report Q4 Earnings: Can Gaming Momentum Persist?

Boyd Gaming Corporation BYD is scheduled to report fourth-quarter 2025 results on Feb. 5, after the closing bell.

BYD’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise being 9.6%.

Trend in the Estimate Revision of BYD

The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) is pegged at $1.88, indicating a decline of 4.1% from $1.96 reported in the year-ago quarter.

For revenues, the consensus mark is pegged at nearly $1.01 billion. The metric implies a decline of 3.3% from the year-ago quarter’s figure.

Let’s take a look at how things have shaped up in the quarter.

Factors Likely to Shape Boyd Gaming’s Q4 Quarterly Results

Boyd Gaming’s fourth-quarter 2025 revenues are likely to have been supported by continued strength in its core customer base and improving trends among retail players, which management noted carried over from the third quarter into October. Gaming volumes are likely to have benefited from steady visitation across Las Vegas Locals and Midwest & South properties, where disciplined marketing and efficient operations helped convert demand into revenues. 

Ongoing gains from recently completed and maturing investments, such as the land-based Treasure Chest casino, expanded meeting and convention space at Ameristar St. Charles, and growth in online and managed businesses, are also likely to have contributed to the performance of the to-be-reported quarter.

Despite underlying strength in gaming play, Boyd’s revenues are likely to have declined year over year primarily due to weakness in destination business, especially tied to lower hotel, banquet and related non-gaming activity. Management repeatedly highlighted softness in destination visitation, which reduced hotel occupancy and ancillary spend, with the Orleans property being a notable drag. 

Earnings pressure in the quarter has been caused by margin headwinds from the same destination-related weakness, as hotel and convention business tends to be higher-margin for Boyd. Ongoing renovation and construction activity at properties like Suncoast and the Orleans is likely to have created operational inefficiencies and limited capacity, constraining profitability even as management worked to control costs. In addition, elevated capital spending on maintenance, renovations and growth projects has increased depreciation and expense burdens, while competitive promotional activity in certain regional markets required careful but still impactful marketing investments, collectively weighing on bottom-line performance.

What Our Model Says About BYD Stock

Our proven model doesn’t predict an earnings beat for Boyd Gaming this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.

Boyd Gaming’s Earnings ESP: Boyd Gaming has an Earnings ESP of -1.57%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

BYD’s Zacks Rank: The company has a Zacks Rank #3 at present.

Stocks Poised to Beat on Earnings

Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat.
 
Choice Hotels International, Inc. CHH has an Earnings ESP of +1.42% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

For the to-be-reported quarter, Choice Hotels’ earnings are expected to remain flat year over year. Choice Hotels reported better-than-expected earnings in two of the trailing four quarters and missed on two occasions, the average miss being 0.6%. 
 
Hilton Worldwide, Inc. HLT currently has an Earnings ESP of +3.08% and a Zacks Rank of 3. 

For the to-be-reported quarter, Hilton Worldwide’s earnings are expected to increase 17.6%. Hilton Worldwide reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 5.8%. 

Marriott International, Inc. MAR currently has an Earnings ESP of +4.21% and a Zacks Rank of 3. 

For the to-be-reported quarter, Marriott International’s earnings are expected to increase 11.4%. Marriott International reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 2%.

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This article originally published on Zacks Investment Research (zacks.com).

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