The EPS beat is modest and revenue slightly missed, with no guidance update. Watch for commentary on Las Vegas destination trends and Hawaiian visitation recovery in the next quarter; the Online segment's double-digit growth trajectory is a key positive to monitor.
Price Chart
Executive Summary
Boyd Gaming reported Q3 2026 adjusted EPS of $1.67, beating consensus of $1.62 by 2.8%, while revenue of $990.5M slightly missed the $1.00B consensus and declined 1.4% YoY. The beat was driven by continued strength in the Midwest & South segment and Online operations, partially offset by softness in Las Vegas destination business. The company returned nearly $180M to shareholders via buybacks and dividends, but provided no explicit forward guidance.
Key Financial Metrics
Key Facts
- Q3 2026 adjusted EPS of $1.67 vs consensus $1.62 (2.8% beat)
- Revenue of $990.5M vs $1.00B consensus, down 1.4% YoY from $1.004B
- Total Adjusted EBITDAR of $319.6M vs $321.8M in Q3 2025 (-0.7% YoY)
- Online segment Adjusted EBITDAR grew double-digits YoY to $10.9M
- Midwest & South segment revenue increased ~3% adjusting for closures and sale
- Las Vegas Locals revenue declined 1.6% YoY due to softness at Orleans and construction disruption at Suncoast
- Downtown Las Vegas revenue fell 10.9% YoY, impacted by lower Hawaiian visitation and higher airfares
- Company repurchased $164M in shares during Q3 and paid $0.20/share dividend
- $387M remaining under share repurchase authorization as of Sep 30, 2026
- Cash on hand $297.2M, total debt $2.7B
Financial Impact
Adjusted EPS beat consensus by $0.05 (2.8%), but revenue missed by ~$9.5M (0.95%). No guidance provided.
Risk Factors
- Continued softness in Las Vegas destination business, particularly at the Orleans property
- Declines in Hawaiian visitation due to storms and higher airfares impacting Downtown Las Vegas
- No forward guidance provided, limiting visibility into Q4 trends
- Revenue decline YoY despite EPS beat, signaling top-line pressure
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302917374 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $71.69 $72.46 | ▼ −1.07% | ▼ −0.36% | $72.11 (−0.59%) |
Oct 22, 2026 4d ago | Press Release | $71.69 $72.46 | ▲ +1.07% | ▲ +0.36% | $72.11 (+0.59%) |
Oct 1, 2026 26d ago | Press Release | $66.07 $67.25 | ▲ +1.79% | ▲ +1.05% | $72.11 (+9.14%) |
Aug 15, 2026 10w ago | Institutional Cluster | $82.77 $82.48 | ▼ −0.35% | ▲ +0.33% | $72.11 (−12.88%) |
Jul 23, 2026 13w ago | Press Release | $87.04 $89.29 | ▲ +2.58% | ▲ +2.56% | $72.11 (−17.15%) |
Jun 25, 2026 17w ago | 8-K | $89.70 $89.57 | ▼ −0.14% | ▼ −1.79% | $72.11 (−19.61%) |
Jun 9, 2026 19w ago | Insider Cluster | $86.82 $86.55 | ▲ +0.31% | ▲ +2.01% | $72.11 (+16.94%) |
May 7, 2026 24w ago | 8-K | $85.64 $82.75 | ▼ −3.37% | ▼ −3.61% | $72.11 (−15.80%) |
Apr 29, 2026 25w ago | 144 | $86.29 $86.95 | ▲ +0.76% | ▼ −0.26% | $72.11 (−16.43%) |
Apr 23, 2026 26w ago | 8-K | $83.88 $87.53 | ▼ −4.35% | ▼ −4.19% | $72.11 (+14.03%) |
US Market Status
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