PENN Entertainment (NASDAQ:PENN) First Quarter 2024 Results
Key Financial Results
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Revenue: US$1.61b (down 4.0% from 1Q 2023).
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Net loss: US$114.7m (down by 122% from US$512.8m profit in 1Q 2023).
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US$0.76 loss per share (down from US$3.35 profit in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
PENN Entertainment Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 30%.
Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US.
Performance of the American Hospitality industry.
The company’s shares are down 10% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company’s balance sheet. We have a graphic representation of PENN Entertainment’s balance sheet and an in-depth analysis of the company’s financial position.
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