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PENN Entertainment (PENN) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

PENN Entertainment (PENN) reported $1.61 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 4%. EPS of -$0.79 for the same period compares to $0.31 a year ago.

The reported revenue represents a surprise of -1.59% over the Zacks Consensus Estimate of $1.63 billion. With the consensus EPS estimate being -$0.59, the EPS surprise was -33.90%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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.

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

  • Revenues- West segment: $128.80 million compared to the $127.13 million average estimate based on four analysts. The reported number represents a change of -0.7% year over year.

  • Revenues- Interactive segment: $207.70 million versus the four-analyst average estimate of $257.53 million. The reported number represents a year-over-year change of -11.1%.

  • Revenues- South segment: $298.50 million compared to the $305.58 million average estimate based on four analysts. The reported number represents a change of -5.2% year over year.

  • Revenues- Northeast segment: $684.70 million versus $682.47 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.3% change.

  • Revenues- Midwest segment: $291.20 million versus $283.70 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.4% change.

View all Key Company Metrics for PENN Entertainment here>>>

Shares of PENN Entertainment have returned -8.1% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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Zacks Investment Research