Boyd Gaming Q3 2022 Earnings Report

Boyd Gaming reported a solid performance driven by focus on core customers and sustained efficiencies, achieving third-quarter EBITDAR second only to last year's record.

Key Takeaways

Boyd Gaming's third-quarter 2022 revenues reached $877.3 million, up from $843.1 million in 2021. Net income was $157.0 million, or $1.46 per share, compared to $138.2 million, or $1.21 per share, in the previous year. Adjusted EBITDAR was $337.7 million, slightly lower than the $340.7 million in 2021. Adjusted earnings were $159.2 million, or $1.48 per share, compared to $149.0 million, or $1.30 per share, in 2021.

Third-quarter EBITDAR was second only to last year’s record quarterly performance.

Results were driven by a continued focus on core customers and sustained efficiencies throughout the business.

Strong operating performance is producing robust free cash flow, allowing the return of nearly $500 million in capital to shareholders so far this year.

Company remains confident in its strategy and its ability to deliver consistent results in the current economic environment.