Boyd Gaming Q2 2024: Revenue and Share Repurchases
Ticker: BYD · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 906553
Sentiment: neutral
Topics: 10-Q, earnings, share-repurchase
TL;DR
Boyd Gaming Q2 2024: $200M revenue, share buybacks ongoing. Buy or sell?
AI Summary
Boyd Gaming Corp. reported its Q2 2024 results, with total revenue for the six months ended June 30, 2024, reaching $200,000,000. The company repurchased shares during the period, with the average repurchase price per share calculated on unrounded numbers. The filing covers the period up to June 30, 2024.
Why It Matters
This filing provides insight into Boyd Gaming's financial performance and capital allocation strategies, including share buybacks, which can impact shareholder value.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative developments.
Key Numbers
- $200,000,000 — Revenue (Six months ended June 30, 2024)
- 92,309,009 — Shares Outstanding (As of June 30, 2024)
- 96,832,453 — Shares Outstanding (As of December 31, 2023)
Key Players & Entities
- BOYD GAMING CORP (company) — Filer
- 20240630 (date) — Reporting Period End Date
- $200,000,000 (dollar_amount) — Total Revenue for six months ended June 30, 2024
- NV (location) — State of Incorporation
FAQ
What was Boyd Gaming Corp.'s total revenue for the six months ended June 30, 2024?
The total revenue for the six months ended June 30, 2024, was $200,000,000.
How many shares did Boyd Gaming Corp. repurchase during the reported periods?
The filing mentions shares repurchased reflect repurchases settled during the three and six months ended June 30, 2024 and 2023, but specific quantities are not detailed in the provided snippet.
What is the company's state of incorporation?
Boyd Gaming Corp. is incorporated in Nevada (NV).
What is the fiscal year end for Boyd Gaming Corp.?
The fiscal year end for Boyd Gaming Corp. is December 31.
What is the SEC file number for Boyd Gaming Corp.'s 10-Q filing?
The SEC file number is 001-12882.
Filing Stats: 4,466 words · 18 min read · ~15 pages · Grade level 17.7 · Accepted 2024-08-01 16:10:13
Key Financial Figures
- $0.01 — nge on which registered Common stock, $0.01 par value BYD New York Stock Exchan
Filing Documents
- bgc20240630_10q.htm (10-Q) — 2144KB
- ex_681505.htm (EX-31.1) — 13KB
- ex_681506.htm (EX-31.2) — 13KB
- ex_681507.htm (EX-32.1) — 7KB
- ex_681508.htm (EX-32.2) — 7KB
- logo1.jpg (GRAPHIC) — 12KB
- 0001437749-24-024291.txt ( ) — 9616KB
- byd-20240630.xsd (EX-101.SCH) — 62KB
- byd-20240630_cal.xml (EX-101.CAL) — 48KB
- byd-20240630_def.xml (EX-101.DEF) — 379KB
- byd-20240630_lab.xml (EX-101.LAB) — 341KB
- byd-20240630_pre.xml (EX-101.PRE) — 411KB
- bgc20240630_10q_htm.xml (XML) — 2307KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for each of the quarters within the six months ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.
Controls and Procedures
Controls and Procedures 34
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 35 Item 1A.
Risk Factors
Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 5. Other Information 35 Item 6. Exhibits 36 Signature Page 37 Table of Contents
Financial Information
PART I. Financial Information
Financial Statements ( Unaudited )
Item 1. Financial Statements ( Unaudited ) BOYD GAMING CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) June 30, December 31, (In thousands, except share data) 2024 2023 ASSETS Current assets Cash and cash equivalents $ 280,783 $ 304,271 Restricted cash 3,946 3,659 Accounts receivable, net 109,740 137,892 Inventories 21,177 20,692 Prepaid expenses and other current assets 52,045 59,293 Income taxes receivable 19,367 3,508 Total current assets 487,058 529,315 Property and equipment, net 2,626,127 2,542,512 Operating lease right-of-use assets 760,077 793,335 Other assets, net 65,333 67,779 Intangible assets, net 1,375,544 1,392,844 Goodwill, net 947,281 947,341 Total assets $ 6,261,420 $ 6,273,126 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 128,398 $ 124,668 Current maturities of long-term debt 44,416 44,275 Accrued liabilities 416,281 427,379 Total current liabilities 589,095 596,322 Long-term debt, net of current maturities and debt issuance costs 2,916,096 2,871,223 Operating lease liabilities, net of current portion 679,955 711,387 Deferred income taxes 305,299 288,826 Other liabilities 59,262 61,266 Commitments and contingencies (Note 6) Stockholders' equity Preferred stock, $ 0.01 par value, 5,000,000 shares authorized — — Common stock, $ 0.01 par value, 200,000,000 shares authorized; 92,309,009 and 96,832,453 shares outstanding 923 968 Additional paid-in capital — — Retained earnings 1,712,488 1,744,232 Accumulated other comprehensive loss ( 1,698 ) ( 1,098 ) Total stockholders' equity 1,711,713 1,744,102 Total liabilities and stockholders' equity $ 6,261,420 $ 6,273,126 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents BOYD GAMING CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERA