Monitor management's commentary on the earnings call regarding EBITDAR decline and margin pressure, particularly in Las Vegas segments. The dividend increase and buyback signal confidence, but fundamentals weakened year-over-year.
Price Chart
Executive Summary
Boyd Gaming reported Q1 2026 revenue of $997.4 million, up 0.6% YoY, but GAAP EPS of $1.37 missed consensus of $1.71 by 19.9%. Adjusted EPS was $1.60, still below consensus. The stock will likely react negatively due to the earnings miss despite modest revenue growth and a dividend increase.
Key Financial Metrics
Key Facts
- Q1 2026 revenue: $997.4 million (up from $991.6 million in Q1 2025)
- GAAP net income: $105.5 million or $1.37 per share vs $111.4 million or $1.31 per share in Q1 2025
- Adjusted EPS: $1.60 vs $1.62 in Q1 2025
- Consensus EPS estimate was $1.71, resulting in a 19.9% miss
- Dividend increased to $0.20 per share from $0.18
- Company repurchased $155 million in shares; board authorized additional $500 million buyback
- Total Adjusted EBITDAR declined to $317.4 million from $337.5 million in Q1 2025
Financial Impact
EPS miss of $0.34 ($1.37 actual vs $1.71 consensus), revenue beat of $2.6 million
Risk Factors
- Declining Adjusted EBITDAR and operating income despite revenue growth
- Margin compression in Las Vegas Locals segment due to construction disruptions and soft destination business
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-013177 |
| Document: bgc20260403c_8k.htm | 0001437749-26-013177 |
| Document: 0001437749-26-013177-index-headers.html | 0001437749-26-013177 |
| Document: 0001437749-26-013177-index.html | 0001437749-26-013177 |
| Document: 0001437749-26-013177.txt | 0001437749-26-013177 |
| 8-K Data (Synthetic) | 0001437749-26-013177 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 15, 2026 6w ago | Institutional Cluster | $82.77 $76.08 | ▼ −8.08% | ▼ −6.11% | $67.25 (−18.75%) |
Jul 23, 2026 10w ago | Press Release | $87.04 $80.78 | ▼ −7.19% | ▼ −10.82% | $67.25 (−22.74%) |
Jun 25, 2026 14w ago | 8-K | $89.70 $86.56 | ▼ −3.50% | ▼ −4.76% | $67.25 (−25.03%) |
Jun 9, 2026 16w ago | Insider Cluster | $86.82 $87.37 | ▼ −0.63% | ▲ +2.99% | $67.25 (+22.54%) |
May 7, 2026 21w ago | 8-K | $85.64 $87.87 | ▲ +2.60% | ▲ +2.58% | $67.25 (−21.47%) |
Apr 29, 2026 22w ago | 144 | $86.29 $82.22 | ▼ −4.72% | ▼ −10.18% | $67.25 (−22.07%) |
Apr 23, 2026 23w ago | 8-K | $83.88 $79.65 | ▲ +5.04% | ▲ +9.07% | $67.25 (+19.83%) |
Mar 20, 2026 28w ago | DEFA14A | $81.06 $88.12 | ▲ +8.71% | ▼ −0.61% | $67.25 (−17.04%) |
Feb 24, 2026 31w ago | 8-K | $84.72 $84.87 | ▲ +0.17% | ▲ +5.41% | $67.25 (−20.62%) |
US Market Status
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