PENN Entertainment Second Quarter 2024 Earnings: EPS Beats Expectations

PENN Entertainment (NASDAQ:PENN) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$1.66b (flat on 2Q 2023).

• Net loss: US$26.8m (down by 134% from US$80.1m profit in 2Q 2023).

• US$0.18 loss per share (down from US$0.52 profit in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

PENN Entertainment EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US.

Performance of the American Hospitality industry.

The company’s shares are up 2.1% from a week ago.

Risk Analysis

We should say that we’ve discovered 1 warning sign for PENN Entertainment that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.