Casino giant, Boyd Gaming, announced a revenue surge of 4% in its most recent quarterly financial report. This positive trajectory underscores their sustained period of robust fiscal health.
The corporation’s earnings climbed to $877 million in the third quarter of 2022, a notable increase from the $843 million recorded during the corresponding period in 2021. Their profits also witnessed a substantial leap to $157 million, contrasting with the $138 million from the prior year.
Although their revenue is on the rise, Boyd did disclose a minor decrease in EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs). This metric reached $3.37 billion for the quarter, a slight reduction from the $3.4 billion reported in the same timeframe last year.
Notwithstanding this dip, the company declared earnings per share of $1.46 for the third quarter, exceeding the $1.21 reported in the third quarter of 2021.
Boyd Gaming’s President and Chief Executive Officer, Keith Smith, conveyed his contentment with the company’s achievements. He underscored their dedication to their primary customer demographic and operational effectiveness as pivotal factors contributing to their accomplishments. Furthermore, he emphasized the company’s strong cash flow production, which has empowered them to distribute almost $500 million in capital back to shareholders since the beginning of the year. Looking towards the future, Smith expressed optimism in the company’s adaptability and capacity to manage the prevailing economic climate.
Market participants are optimistic about Boyd Corp. despite the absence of its latest quarterly financial report. The company’s shares have risen nearly four percent over the previous week.
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