Gaming, betting and entertainment company Bally's Corporation (NYSE: BALY) is expected to be announcing earnings results this Tuesday after market hours. Here’s what investors should know.
Bally's beat analysts’ revenue expectations last quarter, reporting revenues of $746.2 million, up 28.6% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.
Is Bally's 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 Bally’s revenue to grow 26.1% year on year, a reversal from the 1.2% decrease it recorded in the same quarter last year.
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. Bally's has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Bally’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Levi's delivered year-on-year revenue growth of 14.1%, beating analysts’ expectations by 5.6%, and Nike reported flat revenue, in line with consensus estimates. Levi's traded up 10.7% following the results while Nike was down 15.5%.
Read our full analysis of Levi’s results here and Nike’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 11.8% on average over the last month. Bally's is down 1.1% during the same time and is heading into earnings with an average analyst price target of $13 (compared to the current share price of $11.88).
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