NASDAQ$PENN
Penn National Gaming Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
PENN Entertainment's Q3 2024 financial results were reported, showing stable consumer demand offset by unfavorable hold in the Northeast segment and volume declines in the South segment.
PENN Entertainment reported third-quarter results consistent with preliminary estimates. Stable consumer demand in the retail business was offset by unfavorable hold in the Northeast segment and volume declines in the South segment. The Interactive segment benefited from better-than-expected hold and lower promotional expenses.
- Revenues of $1.64 billion.
- Net loss of $(37.5) million.
- Adjusted EBITDA of $193.5 million.
- Adjusted EBITDAR of $348.4 million.
Headline financials
Revenue & EPS history
Penn National · Revenue · Quarterly
$1.64B
Revenue by segment
Penn National · $1.34B total across 5 segments · Q4 2019
- Northeast$621M—46.3%
- Midwest$279M—20.8%
- South$268M—20.0%
- West$158M—11.8%
- Other$15.6M—1.2%
Forward guidance
The fourth quarter is off to a stronger start, led by several markets including Michigan, Ohio, and St. Louis. Product enhancements and ESPN integrations to our ESPN BET offering helped contribute to a higher parlay mix and sportsbook hold during the third quarter.
Tailwinds
- Stable consumer demand in retail business.
- Better-than-expected hold in the Interactive segment.
- Lower promotional expenses in the Interactive segment.
- Launch of account linking between ESPN BET and ESPN.
- Stronger start to the fourth quarter in several markets.
Headwinds
- Unfavorable hold in the Northeast segment.
- Volume declines in the South segment due to severe weather and hotel remodeling.
- Ongoing pressures from new supply in Nebraska, Louisiana, and Chicagoland.
- Adjusted EBITDA loss of $90.9 million for Interactive segment.
- Net loss of $(37.5) million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.1%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+3.4%
Avg return
30 days after
41%
28 / 69 earnings
Positive
+27.6%
Q2 2020
Best reaction
-17.3%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | -6.8% | +4.4% | |
| Q4 2025 | +17.0% | +19.1% | +9.8% | |
| Q3 2025 | -10.5% | -5.3% | -15.5% | |
| Q2 2025 | +1.0% | +4.0% | +10.2% | |
| Q1 2025 | -2.8% | +2.9% | -0.8% | |
| Q4 2024 | -0.1% | -3.2% | -17.1% | |
| Q3 2024 | +6.6% | +12.0% | +7.9% | |
| Q2 2024 | +5.7% | +9.0% | +4.7% | |
| Q1 2024 | -8.0% | -3.2% | +6.4% | |
| Q4 2023 | -17.3% | -23.2% | -21.6% | |
| Q3 2023 | +15.9% | +20.4% | +30.5% | |
| Q2 2023 | +1.2% | +0.4% | -10.8% | |
| Q1 2023 | -12.2% | -12.4% | -12.3% | |
| Q4 2022 | -4.2% | -4.1% | -13.1% | |
| Q3 2022 | -0.4% | +1.7% | +6.7% | |
| Q2 2022 | -6.7% | -6.8% | -14.5% | |
| Q1 2022 | -11.4% | -20.9% | -15.0% | |
| Q4 2021 | -1.5% | +5.3% | +1.5% | |
| Q3 2021 | -15.1% | -18.9% | -34.0% | |
| Q2 2021 | +8.5% | +5.9% | +23.3% | |
| Q1 2021 | -5.2% | -9.1% | -11.9% | |
| Q4 2020 | +18.2% | +7.1% | -0.8% | |
| Q3 2020 | -4.6% | -0.9% | +29.5% | |
| Q2 2020 | +27.6% | +21.4% | +41.1% | |
| Q1 2020 | +16.9% | +12.6% | +128.7% | |
| Q4 2019 | +6.4% | +14.1% | -25.9% | |
| Q3 2019 | -1.8% | +0.9% | +5.4% | |
| Q2 2019 | -3.0% | -5.8% | -1.8% | |
| Q1 2019 | -4.9% | -10.9% | -10.4% | |
| Q4 2018 | -3.1% | -3.6% | -11.9% | |
| Q3 2018 | -4.4% | -8.4% | -8.9% | |
| Q2 2018 | -8.5% | -6.2% | +1.1% | |
| Q1 2018 | +14.1% | +16.5% | +31.2% | |
| Q4 2017 | -6.4% | -5.4% | -7.5% | |
| Q3 2017 | +0.5% | +2.8% | +8.4% | |
| Q2 2017 | -5.5% | -4.5% | -1.6% | |
| Q1 2017 | -2.5% | -2.4% | +5.1% | |
| Q4 2016 | +3.7% | +2.9% | +7.9% | |
| Q3 2016 | -1.1% | -2.6% | +5.9% | |
| Q2 2016 | +5.1% | +2.9% | +0.8% | |
| Q1 2016 | -2.3% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | +3.9% | — | — | |
| Q2 2015 | -1.9% | — | — | |
| Q1 2015 | +3.1% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | +4.3% | — | — | |
| Q2 2014 | -3.6% | — | — | |
| Q1 2014 | -12.6% | — | — | |
| Q4 2013 | +8.0% | — | — | |
| Q3 2013 | +3.6% | — | — | |
| Q2 2013 | -8.2% | — | — | |
| Q1 2013 | +3.6% | — | — | |
| Q4 2012 | +5.0% | — | — | |
| Q3 2012 | -0.9% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q1 2012 | -0.5% | — | — | |
| Q4 2011 | +1.6% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q2 2011 | -5.6% | — | — | |
| Q1 2010 | -0.5% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q4 2008 | +4.5% | — | — | |
| Q4 2010 | +4.5% | — | — | |
| Q3 2010 | +1.4% | — | — | |
| Q3 2009 | +1.4% | — | — | |
| Q2 2010 | -0.9% | — | — | |
| Q2 2009 | -0.9% | — | — | |
| Q4 2009 | -0.9% | — | — |
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