Compared to Estimates, PENN Entertainment (PENN) Q2 Earnings: A Look at Key Metrics

PENN Entertainment (PENN) reported $1.67 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.9%. EPS of $0.48 for the same period compares to $0.15 a year ago.

The reported revenue represents a surprise of +1.19% over the Zacks Consensus Estimate of $1.66 billion. With the consensus EPS estimate being $0.39, the EPS surprise was +23.08%.

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.

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: $130 million versus $131.02 million estimated by five analysts on average.

• Revenues- Interactive segment: $257.50 million compared to the $192.02 million average estimate based on five analysts. The reported number represents a change of +66.2% year over year.

• Revenues- Midwest segment: $293.30 million versus $286.68 million estimated by five analysts on average.

• Revenues- Northeast segment: $688 million compared to the $687.63 million average estimate based on five analysts.

• Revenues- South segment: $308.30 million compared to the $323.13 million average estimate based on four analysts.

• Revenues- Intersegment eliminations: -$8.50 million versus the two-analyst average estimate of -$14.50 million. The reported number represents a year-over-year change of +13.3%.

• Revenues- Food, beverage, hotel and other: $382 million versus the two-analyst average estimate of $244.35 million. The reported number represents a year-over-year change of +26.8%.

• Revenues- Gaming: $1.29 billion compared to the $1.39 billion average estimate based on two analysts. The reported number represents a change of -2.5% year over year.

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

Shares of PENN Entertainment have returned -5% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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