Casino and gaming enterprise, Boyd Gaming, experienced a robust fiscal third quarter, with revenue increasing by 4%.
The corporation witnessed its revenue ascend from $843 million in Q3 2021 to $877 million during the corresponding timeframe this year. Profits also received a healthy increase, hitting $157 million versus $138 million in the prior year.
Although their revenue is elevated, it’s important to recognize that their earnings before interest, taxes, depreciation, and amortization (EBITDAR) saw a minor decline to $3.37 billion from $3.4 billion.
Nevertheless, there’s positive news for stakeholders as earnings per share leaped to $1.46, a substantial rise from the $1.21 posted in the third quarter of 2021.
Boyd Gaming’s Chief Executive Officer, Keith Smith, expressed satisfaction with the outcomes. He highlighted that their concentration on their primary clientele and enhanced operational efficiency are yielding significant returns, particularly amidst the prevailing economic headwinds. He stressed that this solid performance is producing substantial cash flow, enabling them to distribute nearly half a billion dollars back to shareholders this year. He concluded by stating his confidence in their strategic direction and their capacity to sustain positive results.
Shares in Boyds have experienced a recent surge, appreciating nearly 4% over the previous five trading sessions. This upward trend implies that market participants hold an optimistic outlook on the firm’s forthcoming financial results, despite the absence of official figures at this time.
