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Boyd Gaming Earnings Calls
| Release date | Oct 23, 2025 |
| EPS estimate | $1.57 |
| EPS actual | $1.72 |
| EPS Surprise | 9.55% |
| Revenue estimate | 973.811M |
| Revenue actual | 1.004B |
| Revenue Surprise | 3.14% |
| Release date | Jul 24, 2025 |
| EPS estimate | $1.67 |
| EPS actual | $1.87 |
| EPS Surprise | 11.98% |
| Revenue estimate | 880.417M |
| Revenue actual | 1.034B |
| Revenue Surprise | 17.44% |
| Release date | Apr 24, 2025 |
| EPS estimate | $1.52 |
| EPS actual | $1.62 |
| EPS Surprise | 6.58% |
| Revenue estimate | 972.624M |
| Revenue actual | 991.565M |
| Revenue Surprise | 1.95% |
| Release date | Feb 06, 2025 |
| EPS estimate | $1.75 |
| EPS actual | $1.96 |
| EPS Surprise | 12.00% |
| Revenue estimate | 1.001B |
| Revenue actual | 1.041B |
| Revenue Surprise | 4.01% |
Last 4 Quarters for Boyd Gaming
Below you can see how BYD performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Feb 06, 2025 |
| Price on release | $78.57 |
| EPS estimate | $1.75 |
| EPS actual | $1.96 |
| EPS surprise | 12.00% |
| Date | Price |
|---|---|
| Jan 31, 2025 | $76.65 |
| Feb 03, 2025 | $76.82 |
| Feb 04, 2025 | $76.67 |
| Feb 05, 2025 | $76.49 |
| Feb 06, 2025 | $78.57 |
| Feb 07, 2025 | $77.22 |
| Feb 10, 2025 | $77.68 |
| Feb 11, 2025 | $77.71 |
| Feb 12, 2025 | $76.98 |
| 4 days before | 2.50% |
| 4 days after | -2.02% |
| On release day | -1.72% |
| Change in period | 0.431% |
| Release date | Apr 24, 2025 |
| Price on release | $66.04 |
| EPS estimate | $1.52 |
| EPS actual | $1.62 |
| EPS surprise | 6.58% |
| Date | Price |
|---|---|
| Apr 17, 2025 | $64.68 |
| Apr 21, 2025 | $63.74 |
| Apr 22, 2025 | $65.79 |
| Apr 23, 2025 | $66.41 |
| Apr 24, 2025 | $66.04 |
| Apr 25, 2025 | $68.87 |
| Apr 28, 2025 | $69.28 |
| Apr 29, 2025 | $69.23 |
| Apr 30, 2025 | $69.14 |
| 4 days before | 2.10% |
| 4 days after | 4.69% |
| On release day | 4.29% |
| Change in period | 6.90% |
| Release date | Jul 24, 2025 |
| Price on release | $82.32 |
| EPS estimate | $1.67 |
| EPS actual | $1.87 |
| EPS surprise | 11.98% |
| Date | Price |
|---|---|
| Jul 18, 2025 | $82.14 |
| Jul 21, 2025 | $82.56 |
| Jul 22, 2025 | $82.26 |
| Jul 23, 2025 | $83.48 |
| Jul 24, 2025 | $82.32 |
| Jul 25, 2025 | $85.94 |
| Jul 28, 2025 | $86.36 |
| Jul 29, 2025 | $85.74 |
| Jul 30, 2025 | $86.73 |
| 4 days before | 0.219% |
| 4 days after | 5.36% |
| On release day | 4.40% |
| Change in period | 5.59% |
| Release date | Oct 23, 2025 |
| Price on release | $84.98 |
| EPS estimate | $1.57 |
| EPS actual | $1.72 |
| EPS surprise | 9.55% |
| Date | Price |
|---|---|
| Oct 17, 2025 | $82.37 |
| Oct 20, 2025 | $82.71 |
| Oct 21, 2025 | $83.38 |
| Oct 22, 2025 | $82.99 |
| Oct 23, 2025 | $84.98 |
| Oct 24, 2025 | $78.77 |
| Oct 27, 2025 | $79.60 |
| Oct 28, 2025 | $79.00 |
| Oct 29, 2025 | $76.81 |
| 4 days before | 3.17% |
| 4 days after | -9.61% |
| On release day | -7.31% |
| Change in period | -6.75% |
Boyd Gaming Earnings Call Transcript Summary of Q3 2025
Boyd Gaming reported a solid third quarter of 2025 with revenue above $1 billion and EBITDAR of $322 million. Core customer play continued to grow and retail customer play showed further improvement, driving gaming revenue gains across most operating segments that offset softness in destination business (notably at the Orleans). Las Vegas Locals and Midwest & South segments delivered particularly strong results, while Downtown Las Vegas was broadly stable but impacted by lower pedestrian/visitor traffic. Boyd raised Online segment guidance to $60 million EBITDAR for 2025 (approximately $30 million for 2026). The company continues an active capital program (expecting ~ $600 million total capex in 2025) focused on property renovations and growth projects including Cadence Crossing (opening Q2 2026), Paradise (planning, potential late-2026 construction), and a $750 million Norfolk resort (permanent resort targeted Nov 2027). Boyd returned substantial capital in Q3: $160 million of share repurchases and $15 million of dividends, and reiterated a target pace of ~$150 million of repurchases per quarter plus the recurring dividend. Importantly, proceeds from the sale of Boyd’s 5% FanDuel stake were used to reduce debt, driving total leverage down from ~2.8x to ~1.5x (lease-adjusted 3.2x to 2.0x). Management emphasized disciplined marketing and operating efficiencies, attractive expected returns on growth capital (roughly 15–20% cash-on-cash), and a strong balance sheet and free cash flow supporting continued investment and shareholder returns.
