Boyd Gaming Beats Q3 Rev View As Net Loss Narrows

Boyd Gaming Corporation BYD beat third-quarter revenue expectations on a sharply narrower net loss, but its adjusted profits missed Street views.

The Las Vegas-based casino company gained nearly 8 percent in the extended session.

The company said that excluding the results of its Borgata Atlantic City joint venture, it expects $50 million to $600 million in 2014 adjusted earnings before interest, taxes, depreciation and amortization, compared with the $610.4 million in total EBITDA it posted for 2013.

Boyd exited the Atlantic City venture last month.

Boyd's recent third-quarter net loss narrowed to $15.1 million, or $0.14 cents a share, from a net loss of $37.3 million, or $0.37 a share, for the year-earlier period.

Adjusted earnings were break-even per share, while revenue was nearly flat at $738.8 million, compared with $738.6 million last year.

Wall Street expected adjusted profit of $0.02 cents a share, on revenue of $734.8 million.

 

 

 

 

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Posted In: EarningsNewsGuidanceAfter-Hours Center
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