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Boyd Gaming (BYD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Boyd Gaming (BYD) Q3 2026 earnings results →
Q3 2026 Revenue down 1% year over year to $990M · 13¢ of every $1 of revenue kept as net profit · operating margin 19.7%
Boyd Gaming made $990M in Q3 2026 (-1% Y/Y): Casino $655M, Online Reimbusements $121M, Food and Beverage $73.7M. Operating margin 19.7%, net earnings $125M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
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Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $990.5M in Q3 2026, down 1% year over year and down 4% from the previous quarter. Casino was the largest line at 66% of revenue. Online Reimbusements lost $17.5M year over year (down 13%), 126% of the total change.
Operating profit was $194.9M, a 19.7% margin (up 5.8 points year over year). Total costs fell 8% while revenue fell 1%. Net earnings were $124.9M, down 91% year over year ($123.6M including minority interests, which bore $1.3M of losses). The effective tax rate was 23.8%.
Operating cash flow was $202.6M (down 16% year over year), 164% of net earnings. Non-cash charges added back $91.3M of depreciation and amortization and $8.6M of share-based compensation. Working capital and other items used $20.9M. Capital expenditures of $158.9M left free cash flow of $43.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $990M | -1% | 19.7% | $125M | $203M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $1.0B | 0% | 19.4% | $131M | −$23.5M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $997M | +0.6% | 16.4% | $106M | $134M |
| Q4 2025 | 10-K | Feb 20, 2026 | $1.1B | +2% | 15.7% | $140M | $275M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $1.0B | +4% | 13.9% | $1.4B | $240M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $1.0B | +7% | 23.4% | $151M | $205M |
| Q1 2025 | 10-Q | May 2, 2025 | $992M | +3% | 20.2% | $111M | $256M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Boyd Gaming
Boyd Gaming Corporation (the "Company," the "Registrant," "Boyd Gaming," "we" or "us") is a multi-jurisdictional gaming company that has been in operation since 1975. Headquartered in Las Vegas, we operate 27 brick-and-mortar gaming entertainment properties ("gaming entertainment properties") in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, Pennsylvania and Virginia. In addition, we own and operate Boyd Interactive, a business-to-business (“B2B”) and business-to-consumer (“B2C”) online casino gaming business in the United States and Canada. Through a management agreement with Wilton Rancheria, we also manage the Sky River Casino, which is located in California. On November 7, 2025, the Company, as developer and manager, opened a transitional casino in Norfolk, Virginia. The permanent casino resort is expected to open in late 2027.
In its own words, from its 10-K, filed Feb 20, 2026.
Boyd Gaming against its Hotels & Motels peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -1% against the peers' median -0.9%. Operating margin: 19.7% against the peers' median 15.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BYD Boyd Gaming | Q3 2026 | $990M | -1% | 19.7% |
| MAR Marriott International | Q3 2026 | $7.0B | +8% | 18.2% |
| MGM MGM Resorts International | Q3 2026 | $4.2B | -0.9% | 2.8% |
| HLT Hilton Worldwide Holdings | Q3 2026 | $3.3B | +7% | 27.3% |
| LVS Las Vegas Sands | Q3 2026 | $3.2B | -4% | 19.2% |
| CZR Caesars Entertainment | Q3 2026 | $2.9B | +2% | 15.5% |
| PENN Penn Entertainment | Q3 2026 | $1.8B | +7% | 6.9% |
| H Hyatt Hotels | Q3 2026 | $1.7B | -2% | 4.5% |
| WYNN Wynn Resorts | Q3 2026 | $1.7B | -8% | 10.6% |
Source: Boyd Gaming 10-Q on SEC EDGAR · CIK 906553 · Hotels & Motels
13F: who owns BYD and who is buying
More on BYD
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results