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What's in Store for PENN Entertainment (PENN) in Q4 Earnings?
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PENN Entertainment, Inc. (PENN - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 15, 2023 before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 266.7%.
Q4 Estimates
The Zacks Consensus Estimate is pegged at a loss of 57 cents per share. In the prior-year quarter, it reported adjusted earnings per share of 13 cents. The consensus mark for revenues is pegged at $1.54 billion, suggesting a decline of 2.6% from the year-ago quarter.
Factors to Note
PENN Entertainment’s fourth-quarter results are likely to be negatively impacted by dismal food, beverage, hotel and other revenues. However, robust gaming revenues are likely to aid the results. The company is expected to have benefited from omni-channel strength, technological investments and an improvement in marketing capabilities.
The Zacks Consensus Estimate for gaming revenues is pegged at $1.36 billion, indicating 7.5% growth from the year-ago levels. However, the consensus estimate for food, beverage, hotel and other revenues is pegged at $208 million, implying a 34.6% decline from the prior-year numbers.
The consensus estimate for Northeast, Midwest and South segments revenues projects a decline of 2.5%, 0.7% and 5.6% from the year-earlier actuals to $650 million, $281 million and $287 million, respectively.
An increase in operating expenses might have hurt profitability in the quarter.
Our proven model doesn’t conclusively predict an earnings beat for PENN Entertainment 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: PENN Entertainment has an Earnings ESP of -21.44%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PENN Entertainment has a Zacks Rank #3.
Stocks With the Favorable Combination
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to beat estimates this time around.
SIX’s earnings for the to-be-reported quarter are expected to decrease 15.6% from the prior-year levels. It reported better-than-expected earnings in one of the trailing four quarters and missed on the other three occasions, the negative surprise being 9.3%, on average.
Cedar Fair, L.P. (FUN - Free Report) currently has an Earnings ESP of +3.94% and a Zacks Rank of 3.
FUN’s earnings for the to-be-reported quarter are expected to plunge 35.1% from the year-earlier levels. It reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 67.3%.
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% from the prior-year levels. It reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 5.2%.
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What's in Store for PENN Entertainment (PENN) in Q4 Earnings?
PENN Entertainment, Inc. (PENN - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 15, 2023 before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 266.7%.
Q4 Estimates
The Zacks Consensus Estimate is pegged at a loss of 57 cents per share. In the prior-year quarter, it reported adjusted earnings per share of 13 cents. The consensus mark for revenues is pegged at $1.54 billion, suggesting a decline of 2.6% from the year-ago quarter.
Factors to Note
PENN Entertainment’s fourth-quarter results are likely to be negatively impacted by dismal food, beverage, hotel and other revenues. However, robust gaming revenues are likely to aid the results. The company is expected to have benefited from omni-channel strength, technological investments and an improvement in marketing capabilities.
The Zacks Consensus Estimate for gaming revenues is pegged at $1.36 billion, indicating 7.5% growth from the year-ago levels. However, the consensus estimate for food, beverage, hotel and other revenues is pegged at $208 million, implying a 34.6% decline from the prior-year numbers.
The consensus estimate for Northeast, Midwest and South segments revenues projects a decline of 2.5%, 0.7% and 5.6% from the year-earlier actuals to $650 million, $281 million and $287 million, respectively.
An increase in operating expenses might have hurt profitability in the quarter.
PENN Entertainment, Inc. Price and EPS Surprise
PENN Entertainment, Inc. price-eps-surprise | PENN Entertainment, Inc. Quote
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for PENN Entertainment 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: PENN Entertainment has an Earnings ESP of -21.44%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: PENN Entertainment has a Zacks Rank #3.
Stocks With the Favorable Combination
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider, as our model shows that these have the right combination of elements to beat estimates this time around.
Six Flags Entertainment Corporation (SIX - Free Report) has an Earnings ESP of +21.85% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
SIX’s earnings for the to-be-reported quarter are expected to decrease 15.6% from the prior-year levels. It reported better-than-expected earnings in one of the trailing four quarters and missed on the other three occasions, the negative surprise being 9.3%, on average.
Cedar Fair, L.P. (FUN - Free Report) currently has an Earnings ESP of +3.94% and a Zacks Rank of 3.
FUN’s earnings for the to-be-reported quarter are expected to plunge 35.1% from the year-earlier levels. It reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 67.3%.
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% from the prior-year levels. It reported better-than-expected earnings in three of the trailing four quarters and missed on one occasion, the average surprise being 5.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.