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Sep 30, 2022
Penn National Q3 2022 Earnings Report
PENN Entertainment reported solid results, driven by database growth and the successful launch in Kansas.
Key Takeaways
PENN Entertainment reported a revenue increase of 7.5% year-over-year, reaching $1.6 billion. Net income also increased to $123.2 million, with a net income margin of 7.6%. The company is reiterating its full-year revenue and Adjusted EBITDAR guidance.
Revenues of $1.6 billion, an increase of 7.5% year-over-year.
Net income of $123.2 million and net income margin of 7.6%, as compared to net income of $86.1 million in the prior year.
Adjusted EBITDA of $440.4 million, an increase of 20.9% year-over-year.
Successful Kansas Launch Powered by Omnichannel Execution.
Penn National
Penn National
Forward Guidance
The company is reiterating its 2022 revenue and Adjusted EBITDAR guidance range of $6.15 billion to $6.55 billion and $1.875 billion to $2.00 billion, respectively.