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What To Expect From PENN Entertainment’s (PENN) Q1 Earnings

StockStory - StockStory - Tue Apr 21, 10:11PM CDT
PENN

PENN Cover Image

Casino, sports betting and entertainment operator PENN Entertainment (NASDAQ:PENN) will be announcing earnings results this Thursday before market open. Here’s what to look for.

PENN Entertainment beat analysts’ revenue expectations last quarter, reporting revenues of $1.81 billion, up 8.2% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates.

Is PENN Entertainment a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting PENN Entertainment’s revenue to grow 4.6% year on year, in line with the 4.1% increase it recorded in the same quarter last year.

PENN Entertainment Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PENN Entertainment has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at PENN Entertainment’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 8.9%, beating analysts’ expectations by 5.2%, and Levi's reported revenues up 14.1%, topping estimates by 5.6%. Levi's traded up 10.7% following the results.

Read our full analysis of Monarch’s results here and Levi’s results here.

There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 11.3% on average over the last month. PENN Entertainment is up 7.6% during the same time and is heading into earnings with an average analyst price target of $19.39 (compared to the current share price of $15.54).

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