PENN Entertainment (PENN) Q4 Earnings: What To Expect

Jabin Bastian /
2024/02/14 2:00 am EST

Casino, sports betting and entertainment operator PENN Entertainment (NASDAQ:PENN) will be reporting results tomorrow before market hours. Here's what investors should know.

Last quarter PENN Entertainment reported revenues of $1.62 billion, down 0.3% year on year, in line with analyst expectations. It was a weak quarter for the company, with a miss of analysts' earnings estimates.

Is PENN Entertainment buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting PENN Entertainment's revenue to decline 2.6% year on year to $1.54 billion, a further deceleration on the 0.8% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.46 per share.

PENN Entertainment Total Revenue

The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 2.1%.

Looking at PENN Entertainment's peers in the casinos and gaming segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. MGM Resorts delivered top-line growth of 21.8% year on year, beating analyst estimates by 5.8% and Boyd Gaming reported revenues up 3.4% year on year, exceeding estimates by 2.7%. MGM Resorts traded down 2.1% on the results, and Boyd Gaming was up 3.8%.

Read our full analysis of MGM Resorts's results here and Boyd Gaming's results here.

There has been positive sentiment among investors in the casinos and gaming segment, with the stocks up on average 3.2% over the last month. PENN Entertainment is down 1.8% during the same time, and is heading into the earnings with analyst price target of $29.7, compared to share price of $22.8.

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