Boyd Gaming’s Q1 EPS Misses While Revenue Tops $997M
Boyd Gaming reported Q1 net income of $105.5 million ($1.37 per share, $1.60 adjusted), missing the $1.76 consensus, while revenue rose to $997.4 million. The company opened a new Las Vegas locals property, approved an Illinois expansion, repurchased $155 million of stock and raised its dividend to $0.20.
1. Q1 Financial Results
Boyd Gaming reported Q1 2026 net income of $105.5 million, or $1.37 per share and $1.60 adjusted, missing analyst expectations of $1.76 while revenue increased to $997.4 million from $991.6 million a year earlier.
2. Capital Return Program
During the quarter, the company repurchased $155 million of its common stock and raised its quarterly dividend to $0.20 per share, with the board authorizing an additional $500 million for share buybacks, leaving approximately $707 million remaining under the program.
3. Development Projects
Boyd opened Cadence Crossing Casino in Las Vegas, continued development of a $750 million resort in Virginia and secured regulatory approval for an expansion and modernization of its Par-A-Dice property in Illinois, slated to begin construction next year.
4. Segment Performance
The Midwest & South segment delivered year-over-year revenue and Adjusted EBITDAR growth driven by core and retail customers, while Las Vegas Locals softened due to destination business disruptions and Online gaming continued its growth trajectory.