Boyd Gaming Q1 Earnings & Revenues Beat Estimates, Increase Y/Y

Boyd Gaming Corporation BYD reported first-quarter 2025 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The company’s top and bottom lines increased year over year.

In the quarter, the company benefited from strong engagement from core customers and stable trends in retail play. Also, steady business trends through the first three weeks of April and the backing of a strong balance sheet added to the positives.

BYD Q1 Earnings & Sales Discussion

In the reported quarter, adjusted earnings per share (EPS) were $1.62, surpassing the Zacks Consensus Estimate of $1.52 by 6.6%. In the year-ago quarter, it reported an adjusted EPS of $1.51. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)

Total revenues of $991.6 million beat the consensus mark of $970 million by 2.2%. The top line rose 3.2% on a year-over-year basis.

Boyd Gaming Corporation Price, Consensus and EPS Surprise

 

Boyd Gaming Corporation price-consensus-eps-surprise-chart | Boyd Gaming Corporation Quote

Total adjusted EBITDAR in the reported quarter amounted to $337.5 million compared with $330.5 million in the prior-year quarter.

Boyd Gaming's Segmental Details

Las Vegas Locals

In first-quarter 2025, the segment’s revenues amounted to $222.8 million, down 1.3% from the prior-year quarter’s levels. The segment’s adjusted EBITDAR totaled $106.6 million compared with $110.4 million reported in the year-ago quarter.

Downtown Las Vegas

Revenues in the segment rose 7% year over year to $57.3 million. Adjusted EBITDAR was $20.9 million compared with $17.8 million reported in the year-ago quarter.

Midwest and South Segment

In the quarter, the segment’s revenues were $504.6 million compared with $500.8 million reported in the prior-year quarter. The segment’s adjusted EBITDAR totaled $183.2 million compared with $181 million reported in the year-ago quarter.

Online Segment

In the quarter, the segment’s revenues were $169.6 million, compared with $146.2 million reported in the prior-year quarter. The segment’s adjusted EBITDAR totaled $23.3 million compared with $20.5 million reported in the year-ago quarter.

BYD Operating Highlights

In first-quarter 2025, the company’s total operating costs and expenses were $791.7 million, up 6.8% year over year. Selling, general and administrative expenses in the quarter were $107.8 million, compared with $108.2 million reported in the prior-year quarter.

Boyd Gaming's Balance Sheet

As of March 31, 2025, the company had cash on hand of $311.5 million compared with $316.7 million as of Dec. 31, 2024. Total debt in the first quarter of 2025 amounted to $3.5 billion compared with $3.2 billion reported in the previous quarter.

In the quarter, the company repurchased shares of its common stock worth approximately $328 million. As of March 31, 2025, the company stated the availability of approximately $312 million under its repurchase program.

BYD’s Zacks Rank & Stocks to Consider

Boyd Gaming currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the Zacks Consumer Discretionary sector are TEGNA Inc. TGNA, Life Time Group Holdings, Inc. LTH and American Outdoor Brands, Inc. AOUT.
 
TEGNA presently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The company delivered a trailing four-quarter earnings surprise of 6.3%, on average. The stock has gained 18.6% in the past year. The consensus estimate for TGNA 2026 sales and EPS implies growth of 11.3% and 93.8%, respectively, from the year-ago levels.

Life Time Group carries a Zacks Rank #2 (Buy) at present. The company delivered a trailing four-quarter earnings surprise of 21.6%, on average. The stock has surged 117.3% in the past year.

The consensus estimate for Life Time Group’s 2025 sales and EPS implies growth of 12.9% and 37.9%, respectively, from the year-ago levels.

American Outdoor carries a Zacks Rank #2 at present. The company delivered a trailing four-quarter earnings surprise of 79.6%, on average. The stock has gained 40.1% in the past year.

The Zacks Consensus Estimate for American Outdoor’s fiscal 2025 sales and EPS indicates growth of 3.7% and 93.8%, respectively, from the year-ago levels.

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

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