Casino, sports betting and entertainment operator PENN Entertainment (NASDAQ:PENN) will be reporting earnings this Thursday morning. Here’s what to look for.
PENN Entertainment beat analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $1.77 billion, up 6.1% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates.
Is PENN Entertainment a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting PENN Entertainment’s revenue to grow 5.4% year on year to $1.73 billion, improving from the 1.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.03 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PENN Entertainment has only missed Wall Street’s revenue estimates once since going public and has exceeded top-line expectations by 0.1% on average.
Looking at PENN Entertainment’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 4.5%, beating analysts’ expectations by 15.7%, and Red Rock Resorts reported revenues up 1.6%, falling short of estimates by 0.8%. Boyd Gaming traded down 7.3% following the results while Red Rock Resorts was also down 11.8%.
Read our full analysis of Boyd Gaming’s results here and Red Rock Resorts’s results here.
The euphoria surrounding Trump’s November win lit a fire under major indices, but potential tariffs have caused the market to do a 180 in 2025. While some of the casino operator stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 7% on average over the last month. PENN Entertainment is down 12.5% during the same time and is heading into earnings with an average analyst price target of $22.14 (compared to the current share price of $16.17).
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