Gaming corporation, Boyd Gaming, has announced a robust 4% revenue surge in its recent quarterly financial report.
The firm’s financials appear promising. Boyd’s income ascended to $877 million in the third quarter of 2022, a rise from $843 million during the corresponding period in 2021.
Quarterly net earnings also experienced a healthy increase, reaching $157 million, contrasting with $138 million the previous year.
Furthermore, Boyd declared earnings before interest, taxes, depreciation, amortization, and restructuring or rent expenses (EBITDAR) of $3.37 billion for the quarter. This signifies a minor decrease from $3.4 billion year-over-year.
The figures also revealed that the company attained earnings per share of $1.46 for the third quarter, exceeding the $1.21 reported in the third quarter of 2021.
Boyd Gaming’s President and Chief Executive Officer, Keith Smith, remarked on the outcomes: “Our organization produced another quarter of impressive financial results, with third-quarter EBITDAR trailing only last year’s record-breaking third quarter.
These favorable outcomes demonstrate our unwavering dedication to our primary customer base and sustained efficiencies across our operations. Our operational framework is effectively navigating the present climate and continuing to yield positive results.
“Our strong operational performance is generating substantial free cash flow, enabling us to return almost half a billion dollars of capital to shareholders year-to-date. In summary, we are optimistic about the resilience of our business and remain confident in our strategic direction and our capacity to consistently deliver results in the current economic landscape.”
As Boyd Corp. approaches its quarterly earnings release, its stock has experienced a surge. Recent days have witnessed a positive uptick in share value, approximately 4%, indicating that market participants are optimistic about the forthcoming financial results.
