Casino, tavern, and slot machine operator Golden Entertainment (NASDAQ:GDEN) will be announcing earnings results tomorrow after market close. Here's what you need to know.
Golden Entertainment beat analysts' revenue expectations by 3.2% last quarter, reporting revenues of $174 million, down 37.4% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Golden Entertainment a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Golden Entertainment's revenue to decline 39.9% year on year to $172.4 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.27 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Golden Entertainment has missed Wall Street's revenue estimates twice over the last two years.
Looking at Golden Entertainment's peers in the casino operator segment, some have already reported their Q2 results, giving us a hint as to what we can expect. MGM Resorts delivered year-on-year revenue growth of 9.8%, beating analysts' expectations by 2.9%, and Wynn Resorts reported revenues up 8.6%, in line with consensus estimates. MGM Resorts traded down 13.3% following the results.
Read our full analysis of MGM Resorts's results here and Wynn Resorts's results here.
Investors in the casino operator segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Golden Entertainment is down 2.5% during the same time and is heading into earnings with an average analyst price target of $40 (compared to the current share price of $28.09).
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