Financial News
Bally's (BALY) Q3 Earnings: What To Expect
Gaming, betting and entertainment company Bally's Corporation (NYSE:BALY) will be reporting earnings tomorrow afternoon. Here’s what to look for.
Bally's missed analysts’ revenue expectations by 3.1% last quarter, reporting revenues of $621.7 million, up 2.5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ operating margin estimates but a miss of analysts’ earnings estimates.
Is Bally's a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Bally’s revenue to grow 3.6% year on year to $655.1 million, slowing from the 9.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at $0 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bally's has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Bally’s peers in the casino operator segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Boyd Gaming delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 4.8%, and Monarch reported revenues up 3.7%, topping estimates by 2.9%. Boyd Gaming’s stock price was unchanged after the results, and Monarch’s price followed a similar reaction.
Read our full analysis of Boyd Gaming’s results here and Monarch’s results here.
Investors in the casino operator segment have had steady hands going into earnings, with share prices up 2% on average over the last month. Bally’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $18 (compared to the current share price of $17.47).
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