Filing Flows › Penn Entertainment (PENN) › Q3 2026 › vs Q2 2026
Penn Entertainment (PENN) Q3 2026 vs Q2 2026 (quarter over quarter)
Penn Entertainment's revenue fell $17.4M (-0.9%) from $1.9B in Q2 2026 to $1.8B in Q3 2026. The biggest changes: Gaming −$25.4M (-2%); Food, beverage, hotel, and other +$8.0M (+2%). Operating margin 6.9% against 7.1% (-0.2 pts).
Penn Entertainment, Q3 2026: revenue $1.8B (+7% year over year), operating margin 6.9%, net earnings $32.6M, operating cash flow $263M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 6.9% | 7.1% | -0.2 pts |
| Net margin | 1.8% | 1.8% | +0.0 pts |
| Free cash flow margin | 11.1% | 7.7% | +3.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Other | $270M | $271M | −$600K | -0.2% |
| Food and beverage | $119M | $117M | $1.8M | +2% |
| Hotel | $79.6M | $72.8M | $6.8M | +9% |
| Food, beverage, hotel, and other | $469M | $461M | $8.0M | +2% |
| Gaming | $1.4B | $1.4B | −$25.4M | -2% |
| Revenue | $1.8B | $1.9B | −$17.4M | -0.9% |
| Operating profit | $127M | $132M | −$4.4M | -3% |
| Costs & expenses | $1.7B | $1.7B | −$13.0M | -0.8% |
| Pre-tax earnings | $34.3M | $39.7M | −$5.4M | -14% |
| Other expense, net | $93.0M | $92.0M | $1.0M | +1% |
| Sales & marketing | $52.8M | $42.8M | $10.0M | +23% |
| General & admin | $420M | $441M | −$20.6M | -5% |
| Other operating costs | $1.2B | $1.2B | −$2.4M | -0.2% |
| Net earnings | $32.6M | $32.6M | $0 | 0% |
| Income tax | $1.7M | $7.1M | −$5.4M | -76% |
| Depreciation & amortization | $124M | $118M | $6.0M | +5% |
| Share-based compensation | $15.6M | $17.4M | −$1.8M | -10% |
| Working capital & other | $91.3M | $72.9M | $18.4M | +25% |
| Operating cash flow | $263M | $241M | $22.6M | +9% |
| Free cash flow (OCF − capex) | $204M | $143M | $60.8M | +42% |
| Capital expenditures | $59.2M | $97.4M | −$38.2M | -39% |
Questions
How much did Penn Entertainment's revenue grow quarter over quarter in Q3 2026?
Penn Entertainment's revenue fell $17.4M (-0.9%) from $1.9B in Q2 2026 to $1.8B in Q3 2026.
What drove Penn Entertainment's revenue change in Q3 2026?
Gaming −$25.4M (-2%); Food, beverage, hotel, and other +$8.0M (+2%).