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Boyd Gaming reports 4% annual growth in Q3 revenue

Boyd Gaming has posted its Q3 financial report, which showed a total revenue increase of 4%.

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The results look solid for Boyd, which highlighted that its revenue had grown from $843m for Q3 2021 to $877m for Q3 2022.

Meanwhile, its quarterly net income reached $157m – bettering the $138m it achieved in the same period last year.

Boyd further reported its EBITDAR for the quarter as finishing at $337m, compared to $340m in the previous year's quarter. 

Meanwhile, results show that the company’s share price for Q3 sat at $1.46 per share – up from $1.21 following 2021’s Q3 report.

Keith Smith, President and CEO of Boyd Gaming, said after releasing the report: “This quarter was another solid performance by our company, as we achieved third quarter EBITDAR that was second only to last year’s record quarterly performance.

"These results were driven by our continued focus on core customers and sustained efficiencies throughout our business, as our operating model is successfully meeting today’s challenges and delivering consistent results.

“Our strong operating performance is producing robust free cash flow, allowing us to return nearly $500m in capital to our shareholders so far this year. Overall, we are encouraged by the resiliency of our business and remain confident in our strategy and our ability to deliver consistent results in the current economic environment.”

In anticipation of the quarterly report, the share price has been slowly growing over the past five days – rising by a total of just under 4% – showing the confidence traders have in Boyd’s fiscal position.


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