Boyd Gaming’s Q1 EPS Misses Estimates and Announces $500 Million Buyback
Boyd Gaming reported Q1 EPS of $1.60 versus $1.73 consensus and revenue of $997.4 million short of $1.00 billion estimates, prompting a 6.1% share drop. The company still delivered year-over-year revenue growth, over 39% margins and unveiled a $500 million share buyback plan.
1. Q1 Earnings and Revenue Miss
Boyd Gaming reported first-quarter earnings of $1.60 per share, missing the $1.73 analyst consensus, while revenue fell to $997.4 million against a $1.00 billion estimate.
2. Stock Reaction and Price Target
Shares declined 6.1% following the quarterly miss, and an analyst set a $100 price target implying roughly 20% upside from pre-announcement levels.
3. Margin Strength and Growth
Despite the shortfall, the company posted year-over-year revenue growth and sustained property-level margins above 39%, highlighting operational resilience.
4. $500 Million Share Buyback Plan
Management unveiled a $500 million share repurchase program to return capital to shareholders and support the stock during market volatility.