Boyd Gaming 10-Q: Q3 EPS $1.71, $800.9M Debt Moved to Current
BYD is trading near its 52-week low of $65 (8.9% above the low).
Summary
Boyd Gaming's Q3 10-Q confirms $1.71 diluted EPS on $990.5 million of revenue and shows the full $800.9 million credit facility balance reclassified as current pending refinancing of the 2027 notes.
Key Events · Earnings and Guidance · BYD
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Q3 EPS $1.71 on $990.5M Revenue
Net income attributable to Boyd Gaming was $124.9 million, or $1.71 per diluted share, versus $1,440.0 million and $17.81 a year earlier, when a $1,748.0 million FanDuel gain inflated results.
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$800.9M Credit Facility Now Current
Because the $1.0 billion of 4.750% notes due 2027 were not retired or refinanced, the September 1, 2027 springing maturity applies, and all $800.9 million outstanding under the Credit Facility is classified as current maturities.
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Operating Cash Flow Halved to $313.4M
Nine-month operating cash flow fell from $701.4 million to $313.4 million, mainly on $364.2 million of payments for transferable federal energy tax credits purchased in 2025.
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$163.9M of Buybacks in Q3
Boyd repurchased 1,975,405 shares for $163.9 million at an average of $82.99, leaving $387.1 million of authorization; nine-month repurchases totaled $475.0 million.
Analysis · BYD · Real Estate & Construction
The headline numbers were already out on October 22, but the full 10-Q carries two things the press release did not. First, the entire $800.9 million drawn on the credit facility is now classified as a current liability because the 4.750% notes due 2027 have not been refinanced, tripping a September 1, 2027 springing maturity. Second, nine-month operating cash flow fell to $313.4 million from $701.4 million, largely because Boyd paid $364.2 million for transferable federal energy tax credits bought in 2025. Neither is a solvency problem — the company had $1,834.9 million of contractual availability and was in compliance with its covenants — but the working capital deficit widened to $962.7 million, and the refinancing of the 2027 notes is now the item that determines when that debt actually comes due.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BYD was trading at $70.77 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $5.1B. The 52-week trading range was $65.00 to $91.41. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.