PENN Entertainment Q2 Net Loss Narrows, Adj. EPS Beats View On Revenue Growth; Stock Up

(RTTNews) - PENN Entertainment, Inc. (PENN) reported Thursday narrower net loss in its second quarter with higher revenues. Adjusted earnings and top line beat market estimates.

On the Nasdaq, PENN shares are currently trading around 2.6% higher at $17.47.

In the second quarter, the company's net loss was $17.4 million or $0.12 per share, compared to prior year's loss of $26.8 million or $0.18 per share.

Adjusted earnings per share were $0.10, compared to loss of $0.18 a year ago.

The Wall Street analysts on average expected the company to report earnings of $0.01 per share. Analysts' estimates typically exclude special items.

Adjusted EBITDA grew to $236.1 million from last year's $212.1 million. Adjusted EBITDAR was $392.1 million, up from $367.0 million a year ago.

Revenues increased to $1.77 billion from $1.66 billion last year. The Street expected revenues of $1.73 billion for the quarter.

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