PENN Entertainment reported second-quarter results that beat earnings per share expectations but missed on adjusted EBITDA. Revenue came in at $1.86 billion, in line with analyst estimates and up 5.2% year over year, while adjusted EPS of $0.44 beat the $0.26 consensus by 66.9%. Adjusted EBITDA was $312.6 million, missing the $454.6 million estimate, and operating margin improved to 7.9% from 5.3% a year earlier. During the earnings call, analysts questioned management about Interactive segment guidance, iCasino growth, the Aurora property ramp, M&A appetite, and Ontario's contribution, with executives citing cost efficiencies and strong retail performance as key drivers.
Penn National Gaming IncEPS beat but EBITDA missed; mixed results with margin improvement and cost efficiencies.
CTO Realty Growth Inc