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Golden Entertainment profit misses consensus by 66.2% in Q2

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Golden Entertainment profit misses consensus by 66.2% in Q2

Golden Entertainment Inc. said its normalized net income for the second quarter amounted to 7 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS fell 33.8% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.7 million, a decrease of 31.2% from $2.4 million in the prior-year period.

The normalized profit margin dropped to 1.5% from 2.3% in the year-earlier period.

Total revenue grew 7.7% on an annual basis to $110.5 million from $102.6 million, and total operating expenses grew 9.0% from the prior-year period to $105.8 million from $97.1 million.

Reported net income fell 39.4% year over year to $1.6 million, or 7 cents per share, from $2.7 million, or 12 cents per share.