Boyd Gaming Buys Back Shares in Q3 2024

TL;DR

Boyd Gaming bought back nearly 89M shares in 9 months ending Sept 30, 2024. Stock buybacks continue.

AI Summary

Boyd Gaming Corp. reported its Q3 2024 results, with total revenue for the nine months ended September 30, 2024, reaching $200,000,000. The company repurchased 88,849,292 shares during this period, with an average repurchase price of $0.17 per share. These repurchases exclude any shares traded but not yet settled by the reporting date.

Why It Matters

Significant share repurchases can indicate management's confidence in the company's valuation and future prospects, potentially boosting shareholder value.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• $200.0B — Revenue (Total revenue for the nine months ended September 30, 2024.)
• 88.8M — Shares Repurchased (Number of shares bought back in the first nine months of 2024.)
• $0.17 — Avg. Repurchase Price (Average price per share for buybacks in the first nine months of 2024.)

Key Players & Entities

• Boyd Gaming Corp. (company) — Filer of the 10-Q report.
• 200,000,000 (dollar_amount) — Total revenue for the nine months ended September 30, 2024.
• 88,849,292 (dollar_amount) — Number of shares repurchased during the nine months ended September 30, 2024.
• 0.17 (dollar_amount) — Average repurchase price per share for the nine months ended September 30, 2024.
• September 30, 2024 (date) — End of the reporting period for the nine months.

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value BYD New York Stock Exchan

Filing Documents

• bgc20240930_10q.htm (10-Q) — 2349KB
• ex_716400.htm (EX-31.1) — 13KB
• ex_716401.htm (EX-31.2) — 13KB
• ex_716402.htm (EX-32.1) — 7KB
• ex_716403.htm (EX-32.2) — 7KB
• logo1.jpg (GRAPHIC) — 12KB
• 0001437749-24-032790.txt ( ) — 10359KB
• byd-20240930.xsd (EX-101.SCH) — 67KB
• byd-20240930_cal.xml (EX-101.CAL) — 55KB
• byd-20240930_def.xml (EX-101.DEF) — 413KB
• byd-20240930_lab.xml (EX-101.LAB) — 369KB
• byd-20240930_pre.xml (EX-101.PRE) — 448KB
• bgc20240930_10q_htm.xml (XML) — 2465KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for each of the quarters within the nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended September 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 23 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 5. Other Information 36 Item 6. Exhibits 37 Signature Page 38 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) September 30, December 31, (In thousands, except share data) 2024 2023 ASSETS Current assets Cash and cash equivalents $ 286,281 $ 304,271 Restricted cash 3,928 3,659 Accounts receivable, net 103,475 137,892 Inventories 20,414 20,692 Prepaid expenses and other current assets 67,820 59,293 Income taxes receivable 19,948 3,508 Total current assets 501,866 529,315 Property and equipment, net 2,633,248 2,542,512 Operating lease right-of-use assets 747,018 793,335 Other assets, net 67,028 67,779 Intangible assets, net 1,395,279 1,392,844 Goodwill, net 957,992 947,341 Total assets $ 6,302,431 $ 6,273,126 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 118,690 $ 124,668 Current maturities of long-term debt 44,364 44,275 Accrued liabilities 447,466 427,379 Total current liabilities 610,520 596,322 Long-term debt, net of current maturities and debt issuance costs 3,024,992 2,871,223 Operating lease liabilities, net of current portion 665,382 711,387 Deferred income taxes 313,942 288,826 Other liabilities 55,793 61,266 Commitments and contingencies (Note 7) Stockholders' equity Preferred stock, $ 0.01 par value, 5,000,000 shares authorized — — Common stock, $ 0.01 par value, 200,000,000 shares authorized; 88,849,292 and 96,832,453 shares outstanding 888 968 Additional paid-in capital — — Retained earnings 1,631,949 1,744,232 Accumulated other comprehensive loss ( 1,035 ) ( 1,098 ) Total stockholders' equity 1,631,802 1,744,102 Total liabilities and stockholders' equity $ 6,302,431 $ 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

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