Boyd Gaming Corp

Boyd Gaming delivered a mixed second quarter for fiscal 2026, clearing the earnings bar while falling just short on revenue. The Las Vegas-based casino operator posted adjusted EPS of $1.93, beating the $1.89 consensus estimate by 2.04%, even as total revenues of $1.03 billion came in fractionally below the $1.04 billion analyst forecast, a 0.33% miss, and were essentially flat compared to the year-ago period. The profitability beat was partly overshadowed by a sharp rise in project development, preopening, and writedown costs, which climbed to $15.36 million from just $2.76 million a year ago, weighing on GAAP net income, which fell to $131.23 million, or $1.75 per diluted share, from $151.46 million, or $1.84 per share, in Q2 2025. Segment results were uneven, with the Midwest and South division providing a lift to $556.89 million in revenues while Las Vegas Locals and Downtown Las Vegas both softened. Boyd also returned $156 million to shareholders through buybacks during the quarter, a capital return program that <a href="https://247wallst.com/investing/2026/07/15/boyd-gaming-has-17-2-upside-heres-why-you-should-buy-it-before-july-23/">analysts had flagged</a> as a key pillar of the bull case heading into earnings.