PENN Entertainment Q2 Revenue Hits $1.86B, Adjusted EBITDA Jumps 32% to $312.6M
PENN sits 70% above its 52-week low of $11.65.
Summary
PENN Entertainment reported Q2 2026 revenue of $1.86 billion and Adjusted EBITDA of $312.6 million, a 32% increase year-over-year. Retail operations set a revenue record, while the Interactive segment loss narrowed significantly. The company also eliminated convertible note dilution and improved its leverage ratio.
Key Events · Earnings and Guidance · PENN
-
Q2 Revenue Meets Expectations
Revenue of $1.86 billion, in line with analyst estimates, driven by record Retail segment revenue of $1.5 billion.
-
Adjusted EBITDA Surges 32%
Consolidated Adjusted EBITDA reached $312.6 million, up from $236.1 million in Q2 2025, reflecting margin improvement and cost discipline.
-
Interactive Loss Narrows Sharply
Interactive segment Adjusted EBITDA loss improved to $9.5 million from $62.0 million a year ago, supported by iCasino growth and World Cup engagement.
-
Convertible Notes Fully Repaid
Repaid the remaining $106.7 million of 2.75% Convertible Notes due 2026, eliminating approximately 4.6 million potentially dilutive shares.
Analysis · PENN · Real Estate & Construction
A sharp improvement in profitability marked the quarter, with Adjusted EBITDA climbing $52.5 million year-over-year to $312.6 million, fueled by record retail performance and a significantly narrower Interactive loss. The balance sheet also strengthened: the remaining convertible notes were repaid, wiping out 4.6 million shares of potential dilution, while lease-adjusted leverage fell to 5.9x. With $1.9 billion in liquidity and new property openings contributing, PENN is executing on its deleveraging and growth strategy.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.1% of the 1612 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.53%. 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, PENN was trading at $19.85 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $11.65 to $22.36. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.