Boyd Gaming reports lower third-quarter profit as Las Vegas demand softens
Boyd Gaming reported third-quarter 2026 revenue of $990.5 million and net income of $124.9 million, or $1.71 per share, for the period ended September 30, 2026. Adjusted EBITDAR was $319.6 million, compared with $321.8 million a year earlier, while adjusted earnings were $121.7 million, or $1.67 per share. The prior-year results included a $1.4 billion after-tax gain from the sale of Boyd's FanDuel equity interest. Midwest & South and Online operations grew, but softer Las Vegas destination demand affected results.
Why it matters
The revenue shortfall against the $1.0 billion forecast cited by several materials and weaker Las Vegas demand may weigh on near-term investor sentiment, although the company reported growth in Midwest & South and Online. Boyd Gaming returned nearly $180 million to shareholders through dividends and repurchases during the quarter, including $164 million of share buybacks.
Key facts
- 1Third-quarter revenue was $990.5 million, compared with $1.0 billion in the year-ago quarter. prnewswire.com
- 2Third-quarter net income was $124.9 million, or $1.71 per share, versus $1.4 billion, or $17.81 per share, in the prior-year period. prnewswire.com
- 3Adjusted EBITDAR was $319.6 million, compared with $321.8 million in the third quarter of 2025. prnewswire.com
- 4Adjusted earnings were $121.7 million, or $1.67 per share, versus $139.1 million, or $1.72 per share, a year earlier. prnewswire.com
- 5Boyd Gaming repurchased $164 million of common stock during the quarter and paid a quarterly dividend of $0.20 per share on October 15, 2026. prnewswire.com
- 6The company had $387 million remaining under its share repurchase authorization as of September 30, 2026. sec.gov
Open questions
- The materials disagree on whether adjusted EPS of $1.67 beat or missed estimates: one cites a $0.05 beat, while others cite misses of $0.03.
Summary written by AlphAI AI Desk from 10 of 10 sources. Not investment advice. Figures are as stated by the linked sources.