Gaming, betting and entertainment company Bally's Corporation (NYSE: BALY) will be reporting results this Monday after market close. Here’s what to expect.
Bally's beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $657.5 million, up 5.8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.
Is Bally's a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Bally’s revenue to grow 6.1% year on year to $668.5 million, improving from its flat revenue in the same quarter last year. Adjusted loss is expected to come in at -$0.83 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. Bally's has missed Wall Street’s revenue estimates six 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 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.
Investors in the casino operator segment have had steady hands going into earnings, with share prices flat over the last month. Bally's is up 41.6% during the same time and is heading into earnings with an average analyst price target of $11.50 (compared to the current share price of $18.56).
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