Penn Entertainment (PENN) Q2 2026 Earnings
Adjusted EPS excludes $0.17/share pre-opening expenses, $0.14/share transaction costs and other (primarily restructuring charges), ($0.03)/share gain on disposal of assets, ($0.02)/share legal matters inclusive of litigation settlements, $0.01/share loss on early extinguishment of debt, and ($0.07)/share income tax impact on adjustments
How Did PENN Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: −0.34%.
Did PENN Beat Earnings? Q2 2026 Results
Yes. Penn Entertainment reported Q2 2026 earnings of $0.44 a share on Aug 6, 2026, beating the $0.26 consensus estimate by 66.9%. Revenue was $1.9B against a $1.9B estimate.
PENN Entertainment delivered a standout second quarter, posting adjusted EPS of $0.44 against a consensus estimate of $0.26, a beat of 66.86%, as the company swung to GAAP net income of $32.60 million from a net loss of $18.30 million a year ago. Revenue of $1.86 billion grew 5.2% year-over-year and landed essentially in line with expectations, but the real story was the dramatic improvement in profitability, with consolidated Adjusted EBITDA expanding to $312.60 million from $236.10 million, driven by record quarterly revenues in the Retail segment and a sharp narrowing of losses in Interactive, where Adjusted EBITDA improved by $52.50 million to a loss of just $9.50 million. Analysts had been focused on whether newly opened properties like Hollywood Casino Aurora could gain traction, and early VIP trends appear encouraging. Corporate overhead also contracted meaningfully, to $29.50 million from $38.70 million. Management noted that positive momentum in both Retail and Interactive has continued into July, and the Interactive segment remains on track toward its previously stated profitability goals.
- Record quarterly Retail segment revenues with nine properties setting Q2 records
- Year-over-year growth in theoretical revenue supported by mid- and high-worth customer segments
- Growth in unrated revenue indicating broad-based consumer demand
- Interactive segment Adjusted EBITDA improvement of $52.5 million year-over-year
- Segment Adjusted EBITDAR margins of 34.4% improved quarter-over-quarter and year-over-year
- Corporate overhead reduction from $38.7 million to $29.5 million year-over-year
- Strong World Cup engagement driving OSB revenue growth in Ontario
- Hollywood iCasino standalone achieved record quarterly revenues
“We continued to execute against our 2026 strategic priorities this quarter: delivering Segment Adjusted EBITDAR growth, optimizing corporate overhead, growing cash flow, and deleveraging the balance sheet. PENN achieved record quarterly Retail segment revenues, supported by strong performance across our portfolio including our four recently completed development projects. Our Interactive segment remains on track to deliver upon our previously stated goals, supported by growth in U.S. iCasino and Canada. Adjusted EBITDA improved by $52.5 million year-over-year, reflecting disciplined execution of our strategy to drive profitability. The encouraging trends in our Retail and Interactive operating segments have continued through July.”
Penn Entertainment CEO, on the earnings call
What Is Penn Entertainment's Outlook?
Management stated that the Interactive segment remains on track to deliver upon previously stated goals, supported by growth in U.S. iCasino and Canada. Encouraging trends in both Retail and Interactive operating segments have continued through July 2026. The company's 2026 strategic priorities focus on delivering Segment Adjusted EBITDAR growth, optimizing corporate overhead, growing cash flow, and deleveraging the balance sheet.
PENN YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.9B | $1.8B | +5.2% |
| Net Income | $32.6M | $8.4M | +287.4% |
| Operating Income | $131.7M | $92.5M | +42.4% |
PENN Revenue by Segment
When Does Penn Entertainment Report Next?
Figures from SEC filings and company reports. Not investment advice.