Boyd (BYD) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended September 2025, Boyd Gaming (BYD) reported revenue of $1 billion, up 4.5% over the same period last year. EPS came in at $1.72, compared to $1.52 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $871.6 million, representing a surprise of +15.23%. The company delivered an EPS surprise of +9.55%, with the consensus EPS estimate being $1.57.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.

Here is how Boyd performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues by Segment- Managed & Other: $35.85 million compared to the $34.5 million average estimate based on five analysts. The reported number represents a change of +10.7% year over year.

  • Revenues- Online: $165.6 million versus $41.36 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +17.2% change.

  • Revenues by Segment- Downtown Las Vegas: $53.22 million versus $52.51 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.1% change.

  • Revenues by Segment- Midwest and South: $538.85 million compared to the $524.49 million average estimate based on five analysts. The reported number represents a change of +3.2% year over year.

  • Revenues by Segment- Las Vegas Locals: $210.84 million compared to the $210.25 million average estimate based on five analysts. The reported number represents a change of -0.5% year over year.

  • Adjusted EBITDAR- Online: $9.42 million compared to the $4.72 million average estimate based on five analysts.

  • Adjusted EBITDAR- Managed & Other: $26.27 million versus $23.94 million estimated by five analysts on average.

  • Adjusted EBITDAR- Corporate expense: $-23.78 million versus the five-analyst average estimate of $-23.47 million.

  • Adjusted EBITDAR- Downtown Las Vegas: $16.12 million versus the five-analyst average estimate of $15.82 million.

  • Adjusted EBITDAR- Midwest and South: $201.6 million versus $192.91 million estimated by five analysts on average.

  • Adjusted EBITDAR- Las Vegas Locals: $92.13 million compared to the $94.63 million average estimate based on five analysts.

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