PENN Entertainment Posts $32.6 Million Third-Quarter Profit

PENN Entertainment reported a third-quarter profit of $32.6 million as revenue rose 7.1% to $1.84 billion, with both results supported by a comparison with a year-earlier quarter that included a substantial impairment charge. The company said operating trends remained healthy through October.

Today, 15:52· Money Talk· 534 reads

PENN Entertainment Posts $32.6 Million Third-Quarter Profit

The Wyomissing, Pa.-based casino chain earned 24 cents a share, compared with a loss of $864.6 million, or $6.03 a share, in the same quarter a year earlier. Analysts surveyed by FactSet had expected earnings of 17 cents a share.

Excluding certain one-time items, adjusted earnings were 32 cents a share. Revenue of $1.84 billion matched the average Wall Street estimate.

“The healthy operating trends we experienced across both our Retail and Interactive segments continued through October,” President and Chief Executive Jay Snowden said in a statement.

PENN Entertainment Posts $32.6 Million Third-Quarter Profit

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