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Boyd Gaming shares have decreased 26% since the beginning of the year

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Posted at 10:46 AM, Jul 29, 2020
and last updated 2020-07-29 13:46:53-04

LAS VEGAS (AP) — Boyd Gaming Corp. (BYD) on Tuesday reported a second-quarter loss of $108.5 million, after reporting a profit in the same period a year earlier.

The Las Vegas-based company said it had a loss of 96 cents per share. Losses, adjusted for non-recurring gains, were 98 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.45 per share.

The casino operator posted revenue of $209.9 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $167.3 million.

Boyd shares have decreased 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.11, a decline of 18% in the last 12 months.