Bally's Corp Down 15.02% To $7.75 After Earnings Miss

Wednesday, November 1, 2023 - Bally's Corp (BALY) reported downside earnings and revenues today.

Bally's Corp's earnings came in at an EPS loss of $1.15 per share, 1338% lower than estimates for an EPS loss of $0.08 per share. The firm's earnings are down 11600% since reporting $0.01 per share in the same period a year ago.

Analyst projections for Bally's Corp revenue came in at a consensus of $638 million. Third-Quarter revenues missed estimates for $632.5 million by $5.6 million (1%). The company achieved 9% growth year-over-year compared to the firm's revenue of $578.2 million from the year-ago quarter. The lower earnings growth relative to revenue signals Bally's Corp has not been able to improve its profit margin.

The stock is down 15.02% to $7.75 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Bally's Corp a Neutral Sentiment Rank from InvestorsObserver.

Bally's Corp has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 5, putting Bally's Corp in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $7.8 on October 26, 2023 and set a 52-week high on November 15, 2022 at $25.67.

Ballys Corp operates in the casino industry. The company owns gaming and racing facilities, including slot machines and various casinos. It operates in three reportable segments: Casinos and Resorts, North America Interactive, and International Interactive. The majority of the revenue is derived from Casinos and Resorts. Bally's Twin River, Bally's Tiverton, Bally's Dover, Bally's Atlantic City, and other Bally's Casinos & Resorts are just a few of the many Casinos & Resorts. Bally's Interactive, SportCaller, MKF, AVP, Telescope, Degree 53, Live at the Bike, Gamesys' North American business, and online and mobile sports betting operations are all part of the North America Interactive segment. Gamesys' Europe and Asia businesses make up the International Interactive segment.