NYSE$BYD

Boyd Gaming · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Boyd Gaming demonstrated a strong start to 2023, showcasing business model strength and diversified portfolio resilience.

Boyd Gaming reported a strong first quarter in 2023, with revenue increasing by 12.0% to $964.0 million and net income reaching $199.7 million, or $1.93 per share. Adjusted EBITDAR rose by 8.4% to $367.1 million, and adjusted earnings were $177.4 million, or $1.71 per share. The company saw increased play from core customers and growth in non-gaming operations, with particularly strong performances in its Nevada segments and online operations.

  • Revenue increased by 12.0% to $964.0 million compared to the first quarter of 2022.
  • Net income was reported at $199.7 million, or $1.93 per share.
  • Adjusted EBITDAR increased by 8.4% to $367.1 million.
  • Adjusted earnings reached $177.4 million, or $1.71 per share.

Headline financials

Total Revenue

$964M

Previous: $861M+12.0%
EPS (adj)

$1.71

Previous: $1.40+22.1%
Adjusted EBITDAR

$367M

Previous: $339M+8.4%
Capital Expenditures

-$96.1M

Previous: -$46.6M-106.1%
Free Cash Flow

$104M

Previous: $116M-10.9%
Net Income

$200M

Previous: $163M+22.6%
Operating Income

$285M

Previous: $251M+13.5%
Gross Profit

-$34.4M

Previous: $484M-107.1%
Cash & Equivalents

$263M

Previous: $403M-34.6%
Total Assets

$6.32B

Previous: $6.25B+1.2%
Stock-Based Comp

$7.82M

Previous: $8.73M-10.5%

Revenue & EPS history

Boyd Gaming · Revenue · Quarterly

$964M

Q1 2023+12%vs Q1 2022
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

The company is confident in its continued ability to successfully navigate the current economic environment.

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 Q1 2023

Historical avgQ1 2023

-1.0%

Avg return

Earnings day

-0.9%

Avg return

5 days after

-0.2%

Avg return

30 days after

45%

30 / 67 earnings

Positive

+28.4%

Q1 2013

Best reaction

-20.5%

Q3 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-6.0%-3.2%-11.0%
Q4 2025-0.5%-0.3%-4.2%
Q3 2025-7.2%-9.6%-5.0%
Q2 2025-1.5%-0.5%+0.9%
Q1 2025+4.3%+4.7%+10.6%
Q4 2024-1.7%-2.0%-12.2%
Q3 2024+8.4%+11.9%+13.0%
Q2 2024+5.7%+5.6%+3.9%
Q1 2024-16.4%-15.9%-18.6%
Q4 2023+4.3%+1.4%-1.3%
Q3 2023-10.8%-9.7%-1.9%
Q2 2023-6.4%-5.6%-9.6%
Q1 2023-0.2%+3.0%-3.5%
Q4 2022+6.6%+6.6%+5.6%
Q3 2022+4.1%+7.2%+11.1%
Q2 2022+0.8%+0.6%+3.7%
Q1 2022-6.3%-5.6%-7.3%
Q4 2021+5.3%+8.7%+11.4%
Q3 2021+1.3%-3.9%-6.7%
Q2 2021+1.6%-1.0%+5.9%
Q1 2021+1.7%-1.7%-2.8%
Q4 2020-2.5%-2.2%+12.6%
Q3 2020-6.8%-8.6%+13.5%
Q2 2020+13.5%+9.4%+24.3%
Q1 2020+6.9%-1.3%+32.6%
Q4 2019-0.5%-13.5%-66.0%
Q3 2019+3.5%+4.2%+16.0%
Q2 2019-1.4%-2.9%-10.3%
Q1 2019-1.3%-7.0%-16.3%
Q4 2018+9.2%+9.6%-3.7%
Q3 2018-6.0%-9.4%-16.6%
Q2 2018-6.2%-1.0%-2.2%
Q1 2018-1.9%+0.9%+10.1%
Q4 2017-6.2%-5.5%-13.8%
Q3 2017+5.1%+5.5%+9.7%
Q2 2017-3.9%-3.2%+0.9%
Q1 2017+6.5%+6.8%+13.0%
Q4 2016+2.1%-2.6%-3.3%
Q3 2016-4.8%-3.1%+4.7%
Q2 2016-3.5%-1.2%+3.1%
Q1 2016-2.9%
Q4 2015+7.9%
Q3 2015+7.2%
Q2 2015+0.7%
Q1 2015+3.0%
Q4 2014+2.7%
Q3 2014+8.3%
Q2 2014-13.5%
Q1 2014-3.4%
Q4 2013+5.4%
Q3 2013-20.5%
Q2 2013+22.6%
Q1 2013+28.4%
Q4 2012+7.7%
Q3 2012-10.5%
Q2 2012-20.4%
Q1 2011-4.4%
Q1 2012-3.9%
Q4 2011+5.3%
Q3 2011-9.3%
Q3 2010-9.3%
Q4 2008-7.7%
Q4 2009-7.7%
Q2 2010-13.4%
Q2 2011-13.4%
Q4 2010-13.4%
Q1 2010+0.7%

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