Penn National Gaming: 4Q Earnings Snapshot
WYOMISSING, Pa. (AP) _ Penn National Gaming Inc. (PENN) on Thursday reported a loss of $42 million in its fourth quarter.
The Wyomissing, Pennsylvania-based company said it had a loss of 37 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.
The casino operator posted revenue of $1.16 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.15 billion.
For the year, the company reported profit of $93.5 million, or 93 cents per share. Revenue was reported as $3.59 billion.
For the current quarter ending in April, Penn National Gaming expects its per-share earnings to be 40 cents.
The company said it expects revenue in the range of $1.3 billion for the fiscal first quarter.
Penn National Gaming expects full-year earnings to be $1.37 per share, with revenue expected to be $5.21 billion.
Penn National Gaming shares have climbed 37 percent since the beginning of the year. The stock has decreased 16 percent in the last 12 months.