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In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 5.6% and declined 8.1% year over year. However, revenues surpassed the Zacks Consensus Estimate by 3.4% and increased 3% on a year-over-year basis.
BYD’s earnings outshined the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 6.9%.
The Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share (EPS) remained unchanged at $1.43 in the past seven days. The estimated figure indicates a 16.9% fall from the year-ago quarter’s earnings of $1.72.
The consensus mark for revenues is pegged at $922.9 million, in line with the prior-year quarter’s reported figure.
Factors to Note
Boyd Gaming’s fourth-quarter performance is likely to be dented by the opening of a new competitor. Also, higher wages, utilities and property insurance expenses are a concern as well. The Zacks Consensus Estimates for revenues from Food and Beverage and Room are pegged at $67 million and $48.5 million, down 9.5% and 3% year over year, respectively.
Also, ongoing cost pressures on its business are likely to hurt its local results. For the mentioned quarter, the consensus estimates for revenues from Las Vegas Locals are pegged at $234 million, indicating a decline of 2.9% year over year.
However, robust demand for sports betting, an improvement in destination business and pent-up demand for non-gaming amenities are expected to have aided the company’s results. For the fourth quarter, the consensus estimates for consolidated revenues under the gaming segment are pegged at $657 million, suggesting a rise of 0.5% year over year.
The company has been experiencing consistent customer trends in the Midwest and South segments in recent quarters. BYD anticipated these trends would persist in the fourth quarter. For the quarter to be reported, the consensus estimates for revenues from the Midwest and South region are pegged at $492 million, down 20.6% year over year.
Elevated expenses on account of inflationary pressures are likely to have hurt the company’s margins in the fourth quarter. However, the emphasis on core customers and streamlining of cost structures are expected to have partially offset the adverse effects of these headwinds.
What Our Model Indicates
Our proven model predicts 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.
Earnings ESP: Boyd Gaming has an Earnings ESP of +3.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other companies in the Zacks Consumer Discretionary sector, which, according to our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
Hyatt Hotels Corporation (H - Free Report) currently has an Earnings ESP of +2.67% and a Zacks Rank of 3.
H’s earnings for the to-be-reported quarter are expected to plunge 85.1%. The company reported better-than-expected earnings in two of the trailing four quarters and missed on other two occasions, the average surprise being 174.9%.
Marriott International, Inc. (MAR - Free Report) has an Earnings ESP of +1.72% and a Zacks Rank of 3.
MAR is expected to register an 8.2% increase in earnings for the to-be-reported quarter. The company reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 5.6%.
Choice Hotels International, Inc. (CHH - Free Report) currently has an Earnings ESP of +1.48% and a Zacks Rank of 3.
CHH’s earnings for the to-be-reported quarter are expected to increase 7.1%. The company reported better-than-expected earnings in three of the trailing four quarters and missed on the remaining occasion, the average surprise being 5.2%.
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Boyd Gaming (BYD) Gears Up for Q4 Earnings: What's in Store?
Boyd Gaming Corporation (BYD - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 8, 2024, after market close.
In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 5.6% and declined 8.1% year over year. However, revenues surpassed the Zacks Consensus Estimate by 3.4% and increased 3% on a year-over-year basis.
BYD’s earnings outshined the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 6.9%.
The Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share (EPS) remained unchanged at $1.43 in the past seven days. The estimated figure indicates a 16.9% fall from the year-ago quarter’s earnings of $1.72.
Boyd Gaming Corporation Price and EPS Surprise
Boyd Gaming Corporation price-eps-surprise | Boyd Gaming Corporation Quote
The consensus mark for revenues is pegged at $922.9 million, in line with the prior-year quarter’s reported figure.
Factors to Note
Boyd Gaming’s fourth-quarter performance is likely to be dented by the opening of a new competitor. Also, higher wages, utilities and property insurance expenses are a concern as well. The Zacks Consensus Estimates for revenues from Food and Beverage and Room are pegged at $67 million and $48.5 million, down 9.5% and 3% year over year, respectively.
Also, ongoing cost pressures on its business are likely to hurt its local results. For the mentioned quarter, the consensus estimates for revenues from Las Vegas Locals are pegged at $234 million, indicating a decline of 2.9% year over year.
However, robust demand for sports betting, an improvement in destination business and pent-up demand for non-gaming amenities are expected to have aided the company’s results. For the fourth quarter, the consensus estimates for consolidated revenues under the gaming segment are pegged at $657 million, suggesting a rise of 0.5% year over year.
The company has been experiencing consistent customer trends in the Midwest and South segments in recent quarters. BYD anticipated these trends would persist in the fourth quarter. For the quarter to be reported, the consensus estimates for revenues from the Midwest and South region are pegged at $492 million, down 20.6% year over year.
Elevated expenses on account of inflationary pressures are likely to have hurt the company’s margins in the fourth quarter. However, the emphasis on core customers and streamlining of cost structures are expected to have partially offset the adverse effects of these headwinds.
What Our Model Indicates
Our proven model predicts 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.
Earnings ESP: Boyd Gaming has an Earnings ESP of +3.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Boyd Gaming currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat on Earnings
Here are some other companies in the Zacks Consumer Discretionary sector, which, according to our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
Hyatt Hotels Corporation (H - Free Report) currently has an Earnings ESP of +2.67% and a Zacks Rank of 3.
H’s earnings for the to-be-reported quarter are expected to plunge 85.1%. The company reported better-than-expected earnings in two of the trailing four quarters and missed on other two occasions, the average surprise being 174.9%.
Marriott International, Inc. (MAR - Free Report) has an Earnings ESP of +1.72% and a Zacks Rank of 3.
MAR is expected to register an 8.2% increase in earnings for the to-be-reported quarter. The company reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 5.6%.
Choice Hotels International, Inc. (CHH - Free Report) currently has an Earnings ESP of +1.48% and a Zacks Rank of 3.
CHH’s earnings for the to-be-reported quarter are expected to increase 7.1%. The company reported better-than-expected earnings in three of the trailing four quarters and missed on the remaining occasion, the average surprise being 5.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.