PENN ENTERTAINMENT Reports Second Quarter Earnings for FY2023
August 20, 2023
☀️Earnings Overview
On June 30, 2023, PENN ENTERTAINMENT ($NASDAQ:PENN) reported their second quarter FY2023 earnings results, with total revenue coming in at USD 1674.8 million, a 2.9% increase from the same period in the prior year. Net income for the quarter was reported to be USD 78.4 million, compared to the 26.1 million reported in the same quarter of the previous year.
Stock Price
The company saw its stock open at $29.0 and close at $27.1, a rise of 9.1% from the previous closing price of 24.8. This increase in stock prices reflects investor confidence in the company’s ability to manage their finances and achieve their goals for the year. The company’s strong financial performance has been driven by investments in new technologies and innovation, as well as the development of new partnerships and collaborations.
This has allowed PENN ENTERTAINMENT to expand their reach and provide increased value to their existing and future customers. Going forward, PENN ENTERTAINMENT is focused on continuing to expand their services and offerings while maintaining a commitment to responsible financial management and providing a safe and enjoyable entertainment experience for their customers. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Penn Entertainment. More…
| Total Revenues | Net Income | Net Margin |
| 6.56k | 736.3 | 4.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Penn Entertainment. More…
| Operations | Investing | Financing |
| 765.5 | -607.8 | -589.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Penn Entertainment. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 17.03k | 12.82k | 27.9 |
Key Ratios Snapshot
Some of the financial key ratios for Penn Entertainment are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.8% | 52.5% | 21.6% |
| FCF Margin | ROE | ROA |
| 7.3% | 21.2% | 5.2% |
Analysis
At GoodWhale, we have done a thorough analysis of PENN ENTERTAINMENT‘s fundamentals to provide an accurate assessment. After our analysis, we have determined that PENN ENTERTAINMENT is a medium risk investment in terms of financial and business aspects. Our Risk Rating system provides an easy and straightforward way for users to evaluate investments. We have also detected two risk warnings in the income sheet and balance sheet. If you’re interested in learning more about these warnings, register on goodwhale.com and check out our detailed analysis of PENN ENTERTAINMENT. More…
Peers
The company has its headquarters in Wyomissing, Pennsylvania. Penn National Gaming Inc operates in the following segments: Gaming, Racing, and Hospitality. The company operates gaming facilities in Pennsylvania, Ohio, Louisiana, Illinois, Mississippi, and Maryland. The company was founded in 1969 and it employs around 26,000 people. Penn National Gaming Inc’s main competitors are DraftKings Inc, Caesars Entertainment Inc, and Boyd Gaming Corp. These companies are all gaming companies that operate in the United States.
– DraftKings Inc ($NASDAQ:DKNG)
DraftKings Inc is a digital sports entertainment and gaming company. It operates through two segments, Digital Sports and Gaming Platform, and Media Platform. The company was founded in 2012 and is headquartered in Boston, Massachusetts.
DraftKings Inc’s market cap is 5.93B as of 2022. The company has a Return on Equity of -105.71%.
DraftKings Inc operates a digital sports entertainment and gaming platform. The company offers daily fantasy sports, sports betting, and online gaming products. DraftKings Inc also operates a media platform that provides content and data products.
– Caesars Entertainment Inc ($NASDAQ:CZR)
Caesars Entertainment Inc is a gaming company that owns and operates casinos and resorts. As of 2022, the company has a market capitalization of 8.49 billion dollars and a return on equity of 19.66%. The company’s casinos are located in the United States, Canada, the United Kingdom, and Macau. The company’s resorts offer a variety of gaming, lodging, dining, entertainment, and retail options.
– Boyd Gaming Corp ($NYSE:BYD)
Boyd Gaming Corporation is an American gaming and hospitality company based in Las Vegas, Nevada. The company continues to be run by the Boyd family under the management of Sam Boyd, who founded the company in 1975. The company owns and operates 22 gaming properties in seven states. Boyd Gaming is the largest operator of casinos in Louisiana.
The company’s market cap is 5.71B as of 2022 and its ROE is 35.86%. The company operates 22 gaming properties in seven states and is the largest operator of casinos in Louisiana.
Summary
Investors in PENN ENTERTAINMENT tend to be pleased with the company’s latest earnings results for the second quarter of FY2023. Revenue increased by 2.9% year-on-year to USD 1674.8 million, while net income rose from USD 26.1 million to 78.4 million. These positive figures helped to push the stock price up on the same day, potentially signaling a bullish outlook for the company going forward. With strong financials and a growing presence in the entertainment industry, PENN ENTERTAINMENT looks set to remain a good investment opportunity.
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