Boyd Gaming Q4 2024 Earnings Report

Key Takeaways

Boyd Gaming delivered strong financial results in Q4 2024, with revenue reaching $1.04 billion and adjusted earnings per share increasing to $1.96. The company's net income surged to $170.5 million, driven by growth in its Online and Midwest & South segments. Despite competitive pressures in certain markets, Boyd Gaming maintained strong property-level operating margins.

Total Revenue

$1.04B

Previous year: $954M

+9.1%

EPS

$1.96

Previous year: $1.66

+18.1%

Adjusted EBITDAR

$379M

Previous year: $355M

+6.7%

Operating Margin

25.1%

Cash and Equivalents

$317M

Previous year: $304M

+4.1%

Boyd Gaming Revenue

Boyd Gaming EPS

Boyd Gaming Revenue by Segment

Forward Guidance

Boyd Gaming remains optimistic about long-term value creation, focusing on operational efficiencies and strategic investments while maintaining a strong balance sheet.

Positive Outlook

Continued revenue growth in Online and Midwest & South segments
Strong property-level operating margins above 40%
Investments in property enhancements contributing to performance
Shareholder returns through dividends and share repurchases
Resilient balance sheet with strong cash position

Challenges Ahead

Competitive pressures in Las Vegas Locals segment
Potential macroeconomic headwinds affecting consumer spending
Regulatory risks in the gaming industry
Rising operating costs impacting profitability
Dependence on market-access agreements for online gaming growth