Boyd Gaming (NYSE:BYD) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Boyd Gaming (NYSE:BYD) announced its earnings results on Thursday. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04, FiscalAI reports. Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $1.87 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year.

Here are the key takeaways from Boyd Gaming’s conference call:

• Boyd Gaming reported a solid second quarter, with revenue up 3% and EBITDA up 2% on a comparable basis, driven by growth in the Midwest & South segment, Boyd Interactive, and Sky River management fees.
• The Midwest & South business was a standout, with revenue up 3%, EBITDA up 4%, and margins reaching nearly 38%, the best level in almost two years.
• Las Vegas Locals remained mixed: softness at the Orleans and construction disruption at Suncoast weighed on results, but the rest of the portfolio grew revenue and EBITDA and continued to post 50%+ margins.
• Management raised full-year guidance for online EBITDA by $5 million to $35 million-$40 million and for the managed business by $3 million to $113 million-$117 million, citing strength at Boyd Interactive and Sky River.
• The company reiterated an active capital return program, including about $150 million of share repurchases per quarter, while maintaining a strong balance sheet with leverage at 2.2x and ample liquidity.

Boyd Gaming Trading Down 0.0%

Shares of NYSE BYD opened at $86.63 on Friday. The stock’s 50 day moving average price is $85.66 and its two-hundred day moving average price is $84.85. Boyd Gaming has a 52-week low of $76.33 and a 52-week high of $91.00. The stock has a market capitalization of $6.44 billion, a P/E ratio of 3.80, a PEG ratio of 2.05 and a beta of 1.07. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.90.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, June 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 15th. Boyd Gaming’s payout ratio is currently 3.51%.

Key Boyd Gaming News

Here are the key news stories impacting Boyd Gaming this week:

• Positive Sentiment: Boyd Gaming reported Q2 EPS of $1.93, topping analyst estimates and improving from $1.87 a year ago, which suggests continued profitability strength. Boyd Gaming Reports Second-Quarter 2026 Results
• Positive Sentiment: Management said the quarter benefited from strong performance in the Midwest & South operations, the Online segment, and the Managed business, highlighting the value of Boyd’s diversified model. Boyd Gaming Reports Second-Quarter 2026 Results
• Positive Sentiment: Analyst coverage and earnings call summaries emphasized strong revenue growth and a beat on earnings expectations, which can reinforce confidence in near-term fundamentals. Boyd Gaming Corp (BYD) Q2 2026 Earnings Call Highlights
• Neutral Sentiment: Revenue was about $1.03 billion, roughly matching expectations, so the quarter was not a broad top-line surprise. Boyd: Q2 Earnings Snapshot
• Neutral Sentiment: Recent transcript and metrics-focused coverage suggests investors are still parsing the details of the quarter rather than reacting to one major new catalyst. Boyd Gaming Corporation (BYD) Q2 2026 Earnings Call Transcript
• Negative Sentiment: Revenue came in slightly below consensus estimates, which may limit upside if investors were looking for a stronger sales beat. Boyd Gaming’s (NYSE:BYD) Q2 CY2026 earnings results

Boyd Gaming announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 23rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Boyd Gaming news, CEO Keith Smith sold 100,000 shares of Boyd Gaming stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $85.90, for a total value of $8,590,000.00. Following the completion of the transaction, the chief executive officer owned 996,981 shares of the company’s stock, valued at $85,640,667.90. The trade was a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Marianne Boyd Johnson sold 62,914 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the sale, the chairman owned 1,609,808 shares of the company’s stock, valued at approximately $135,272,166.24. The trade was a 3.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 200,000 shares of company stock worth $17,038,987. 22.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Atlas Capital Advisors Inc. bought a new position in shares of Boyd Gaming during the fourth quarter worth about $199,000. FORA Capital LLC acquired a new position in Boyd Gaming during the 4th quarter valued at about $114,000. Aristides Capital LLC bought a new position in Boyd Gaming in the 4th quarter worth about $204,000. Parallel Advisors LLC grew its position in Boyd Gaming by 76.0% in the 4th quarter. Parallel Advisors LLC now owns 1,276 shares of the company’s stock worth $109,000 after purchasing an additional 551 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Boyd Gaming in the third quarter valued at approximately $94,000. 76.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BYD. Susquehanna reduced their price target on Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Benchmark assumed coverage on Boyd Gaming in a report on Monday, June 22nd. They set a “buy” rating and a $100.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Boyd Gaming in a research report on Friday, June 26th. They issued a “neutral” rating and a $91.00 target price on the stock. Barclays set a $87.00 target price on Boyd Gaming in a research note on Friday. Finally, Texas Capital raised shares of Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Boyd Gaming presently has a consensus rating of “Hold” and an average target price of $94.46.

About Boyd Gaming

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.