NYSE$BYD
Boyd Gaming · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Boyd Gaming reported strong third-quarter results driven by revenue growth and margin expansion, with record Adjusted EBITDAR performances across all operating segments.
Boyd Gaming reported a strong third quarter with record revenue, EBITDAR, and operating margins. The company's focus on core customers and efficient operations drove significant growth compared to the previous year. A new $300 million share repurchase program was authorized, reflecting confidence in the company's long-term prospects.
- Company-wide revenue reached a record high for the third quarter.
- Adjusted EBITDAR increased by more than 42% year-over-year.
- Operating margins improved by nearly 400 basis points.
- Board of Directors authorized a $300 million share repurchase program.
Headline financials
Revenue & EPS history
Boyd Gaming · Revenue · Quarterly
$843M
Revenue by segment
Boyd Gaming · $843M total across 3 segments · Q3 2021
- Midwest & South$477M+2.8%56.5%
- Las Vegas Locals$295M+72.5%35.0%
- Downtown Las Vegas$71.2M+306.9%8.4%
Forward guidance
Boyd Gaming is confident in its ability to drive continued revenue and EBITDAR growth as the pandemic recedes, restrictions are lifted and additional guests return to properties.
Tailwinds
- Continued growth in visitation and spending among core customers.
- More efficient operating model.
- Easing of pandemic restrictions.
- Potential return of additional guests.
- Robust free cash flow and strong balance sheet.
Headwinds
- Ongoing uncertainty about COVID-19, its duration and impact.
- Possibility of future closures and length of closures of the Company’s properties.
- Negative perceptions of visiting properties that have large groups of people.
- The cost to comply with any mandated health requirements associated with the virus.
- The extent of consumer demand.
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 2021
-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
| Quarter | Report date | Reaction (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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